Aug. 8 at 1:57 AM
$HEPA HEPA shareholders may want to take a closer look at the May 2025 sale of Rencofilstat to Panetta Partners.
Rencofilstat had been Hepion’s lead drug asset, yet the company transferred the patents, know-how, clinical-trial data and drug product for nominal upfront consideration.
Shareholders received CVRs with maximum aggregate milestone payments of
$4.5 million if the drug eventually achieves FDA approval and major sales milestones.
Panetta is associated with Gabriele Cerrone, who has been described as a co-founder of Hepion.
I am not alleging wrongdoing, but I think shareholders should ask whether there was an independent valuation, market check, competing bids or a fairness review.
It would also be useful to know how the Board evaluated any potential conflicts of interest.
A Delaware Section 220 books-and-records request could potentially provide answers.
Are any U.S. HEPA shareholders or attorneys looking into this transaction?