I am under the impression that if IPIX signs a partnership with a BP for a specific definition, then the BP takes over the running of the trials up to and including commercialization. IPIX simply takes the money and makes sure they get paid all the back end royalties (if any).

If this is wrong and IPIX would continue to be the lead dog on the trials, I would like to know.

I am sure there would be some contractual agreement on who would have the last word on any matter (and money talks) so I expect that to be the BP.