I asked Leo about the invite and expenses for the

I asked Leo about the invite and expenses for the Nov.IBD conference and he said the foundation invited IPIX and there will be no expenses for them to attend and present either.

Talking with Petemantx about yesterday's PR and he had some very great thoughts about it so I'm sharing them here as well.

Kelt

"My take as to today's PR:

Made perfect sense in the way of starting to put out PRs to get eyes looking our way but not giving away anything regarding the milestones yet.

It was part of Leo's strategy to make the most of the main news coming later in the month.

I never thought the Brilacidin platform would be sold or partnered in it's entirety this early in the game as there is not nearly enough known about it yet to be able to predict the widespread uses it should hold. I thought Dr. B made a statement that we hadn't even scratched the surface yet of what it should be able to do. IBD indication never has been on the table IMO and won't be until we get a pill formulation and that formulation should be based on ph level so that the pill will work exactly where desired in the GI tract to pinpoint the treatment for Crohn's Disease, UC, UCS, etc. Until then, we won't get anywhere near the valuation for B that it deserves as I believe it should rival Humira in revenues when all is said and done.

OM is the indication in play based on the Evonik/CoreRx contracts and the fact that because it is a swish-and-spit formulation the partner could not infringe on all the other B indications as they will have to be addressed thru topical creams (dermatology indications) or pill (IBD indications) and whatever else B is found to do will not be addressed thru swish and spit.

Besides OM, which I believe may bring double digit $MM upfront payment, the other indication may be Prurisol for psoriasis only. If/When we get the expected great P2b results, we should see very decent double digit $MM upfront payment or higher. Again, the dermatology indications for Prurisol will most likely be via topical creams so no crossover problems. Don't know yet about the other autoimmune disease indications but we should allow the psoriasis partner to have last right of bidding for all other autoimmune disease indications as this would really increase the upfront bidding for the psoriasis indication IMO.

I don't see a timing problem w/ this PR as I never expected or wanted the entire B platform to be on the sale block now nor a sale of the whole company as both would be far, far too low compared to what they will bring within a year to 18 months. I prefer to wait for that time to think about selling a total platform.

K platform again cannot be partnered out until the pill formulation is completed for the same reason, too low a value at this time, especially if we then go thru a very fast trial just to get physio-kinetic data as to safety and good idea of how fast it leaves the body.

So IMO Leo's P2b and BTD milestones are a lock already as I believe they have the BTD and are sitting on the announcement. That makes Leo's only major goal RIGHT NOW to be signing a deal to bring in double digit cash now to provide us with needed funds to further advance all drug platforms. I believe this PR helps light a fire under all the BPs that are serious suitors to get such a deal for an indication by end of Sept. "