Thanks for the great notes! I think B-UP could land our first partner. Sounds like management has identified a BP with the technology to deliver B in pill form. That's going to address a huge market since 50% of IBD are Crohn's disease. It'll also save years trying to develop the oral formulation on their own.

Here's Dr. B from the CC,

"So, it could treat throughout the GI tract and the technology for those kinds of deliveries have really gotten quite impressive in recent years that you can actually target certain areas of the GI tract where you can get pills to provide the active pharmaceutical ingredient to come out of the pill housing.

So, I think it would not be reinventing the wheel on how to do that. A lot of big pharms right now understand that themselves. Some actually have the technology available, but maybe lacking in terms of the right drug candidate with enough horsepower to treat the disease.

So that really just sets us up as Leo mentioned again toward a partnership. If that's appreciated, I think we could be in very good shape to move that in that direction without having to reinvent the wheel and really coming across the finish line effectively."