I have a reactive stomach and use Carafate when I'm having problems. I discussed Carafate uses with my GI doc some years ago, and he said that it was used with good results in treating bile reflux as well. From what he described, it coats the esophagus and stomach both, protecting them from the damaging effects of bile. He said that when he does an endoscopy after someone has taken it, the coating is visible almost immediately. I understood that within ten minutes after taking the Carafate it is attached to the esophagus and at that point it is okay to drink water.
Carafate was developed to protect healing ulcers. I guess some GI docs aren't impressed with its results, but as someone who uses it regularly for sensitive stomach/wrap, I can vouch for its ability to make the stomach and wrap feel better. At least that's my experience!
I really can't tell you about the binding with bile. Sorry!
Words of wisdom by Eckhart Tolle:
"Whatever you fight, you strengthen, and what you resist, persists.”
“Worry pretends to be necessary but serves no useful purpose”
“Accept - then act. Whatever the present moment contains, accept it as if you had chosen it. Always work with it, not against it.”