Innovation Pharmaceuticals Inc (IPIX)

[frrol]

The B enema did not show "enormous efficacy". It showed more promising signal. This is why a deal took a while, was small, was confined to UP, and was with a lower tier pharma.

It's unlikely we'll be seeing another term sheet until a successful outcome of the next UP trial. But we're still in business and still in the game.

Should be added that any other pharma will be less inclined to do a deal for B-IBD (or OM) since a GI indication is 'taken'. Drugs are not commonly split that way. If the UP trial is successful, a pharma might offer to take the whole thing; AS or a BP buyout of AS's UP license. AS has options; it's investment is safe.

IPIX is proceeding with developing the IBD pill with the limited capital we got from AS and from our MFO share sales.