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May 7, 2008
We are at the beginning stages of a health care evolution to a more preventive, personalized system. As biomedical science advances, it is becoming increasingly understood that one size does not fit all regarding therapies for complex diseases. The benefits and risks of different treatments are not equally shared by all patients. However, scientific advances in genomics and proteomics are making it possible to diagnose and treat a growing number of diseases based on an individual patient’s molecular characteristics. In this way physicians can define a treatment course, for the right patient, at the right dose, at the right time.
As baby boomers age, more and more people are suffering from chronic health conditions, and it’s becoming clear that without development of new health care solutions, health care costs will continue to rise.
Personalized medicine will improve healthcare by providing preventative and more effective healthcare solutions, potentially contributing to a reduction in health care costs.
Personalized medicine involves technologies for determining susceptibility to particular health conditions and identifying potential preventative strategies. Once symptoms appear, personalized medicine provides the clinician with the tools and techniques to diagnose diseases more effectively, giving clinicians enhanced ability to select appropriate therapies and/or dosages to maximize clinical benefit and reduce side effects.
Because of this, health care interventions will occur much earlier and with greater precision than ever before, as doctors will have an expanded capability to customize therapy.
Despite all of the promise of personalized medicine, however, progress has been slow and uneven. The actual science is ahead of the field. To advance personalized medicine, industry needs to be proactive in working with legislators and federal agencies to develop clear, transparent regulatory oversight and reimbursement mechanisms that encourage innovation.
Industry must also strengthen their support of basic and translational research. Biomedical advances are dependent upon the research and development that occurs within the biotechnology and pharmaceutical industries as well as the publicly-funded biomedical research enterprise centered at the National Institutes of Health (NIH).
Personalized medicine will be a major focus at the BIO International Convention in San Diego on June 17-20. There will be several sessions focused on the challenges and opportunities presented by personalized medicine and will include examples of the research and development of pioneer technologies. Edward Abrahams of the Personalized Medicine Coalition and Dr. Jonca Bull of Genentech will be among the featured speakers.
Other sessions will focus on investment in personalized medicine technologies, and will focus on the major issues effecting market development of personalized medicine and targeted therapeutics from a corporate and venture capitalist perspective. Successful business models and key factors in attracting institutional investors will be shared.
For more information and to register, visit ww.bio2008.org
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