Keith Elliston, Genestruct
"What is the significance of Systems Biology and Regulatory Genomics to industry?"
Its clear from vioxx etc that drug companies dont know the molecular action of their drugs, this is where sys biology can help
There is a 'cognitive barrier' that so much is known that people cant get their head around it. SYstems biology is to filter al that is known to 'actionable' items that can be directly addressed.
For drug companies, novel target identification is the hardest task, but the least interesting for drug companies. It takes between 800 million and a billion dollars to make a blockbuster drug. So have to recoup costs before patent runs out..
Agrees with Lee Hood that SBs biggest effect is on biomarkers (personalized medicine). There is some talk that companies are afraid of personalized medicine because it lowers their revenue since they would get the right drug the first time. This was confirmed to some extent, that only the really visionary companies will support this. This will need a change in paradigm at the FDA since drugs will work great for a small percentage of the population and will get rejected even though they are more appropriate for that small fraction.