Fenix

A sale to BP seems to be the best option under the current circumstances. Will BP embrace this new science and carry it forward? Is it ready for them?  Deep pockets are needed to get RVX-208 - the first epigenetic therapy approved - and subsequently develop the many compounds in waiting.

Hepalink is a conundrum - essentially Hepa(and Eastern) paid for the BetonMace trial - they are in at ~ 2.67 USD  per share and Hepa owns almost half and has a seat on the board.  They will not be rolling over on this one - they have licensed RVX for sale in China, Taiwan, Hong Kong and Macau. They seem to have the strongest negotiating position. One issue I am not sure they anticipated was the U.S.-China trade war waged by the Trump Admin. Most of the prior agreements were signed under the Obama Admin which encouraged open trade with China. The Royalty Preferred Shares were a brilliant move by RVX mgmt but also have created a difficult negotiation.

JMO

Chicagoest