fuzzy, I am not a securities lawyer but I am 100% convinced there exists no Right of First Refusal agreement for RVX to buy Hepa's stake when they want to sell.  This would be a material matter and would have to be publicly disclosed.

I cannot fathom Hepa shedding their RVX stake in any way given the FDA BTD in a major indication and all the other science validating our drugs' amazing potenital and relative proximity to an FDA approval.   Could some entity gobble up Hepa, yes perhaps but there is a significant chill on Chinese companies lately because of gov't interventions and control, geo-political risks etc.  Some are calling Chinese companies as a whole uninvestable.   Besides, despite the depressed Hepa SP, I don't see them as a company under financial strain or in any way desperate.

Maybe a big Chinese Pharma could gobble-up Hepa.  Would that be a positive for us, or a negative?  Hepa has at least in the past been a good friend of RVX, even providing major funding at higher-than-market share prices.  Though I do worry that Don's never-materializing forward-looking statements has set that bridge ablaze.  At first glance I wouldn't feel comfortable with an announcement of a take-over of Hepa, not unless the acquirer specifically laid out favorable RVX trial funding plans.
Just my two cents.