Interesting AH news about Celgene's Crohns drug failing PIII. They paid $700M upfront to a small private firm from Ireland for the drug and indicated that it had striking PII results. This could be an opportunity for other BPs to jump into the IB space (perhaps by partnering with IPIX) or it could make some more cautious. However, IPIX has touted the endoscopy videos which apparently are not typically done and provide significant proof of efficacy. Originally, I was not sure why that was so important, but now in hindsight it appears to have been a brilliant move.....we'll see.