LA JOLLA Stem cell science is at last moving into clinical trials. But delivering its results to patients will require huge investments by drug and biotech companies, and health insurers must decide on how to reimburse for such therapy.
Just how thats going to happen is part of the Stem Cell Meeting on the Mesa, which begins Monday and ends Wednesday. The annual conference, which began as a scientific symposium, has extended into business matters as research get closer to patient treatments.
The meeting in La Jolla includes scientific updates on stem cell research and presentations from more than 50 companies and research institutes, seeking investment or offering their science skills.
The business push into whats called regenerative medicine takes place as the United States is adopting a new health care system. Biotech executives speaking at the conference said their job is to document the benefits in restoring patient health and replacing less effective and more costly alternatives.
Regenerative medicine aims to do what until very recently has been impossible: regrow lost tissues or organs and reverse degenerative diseases such as Parkinsons. The need for such treatments is becoming greater as baby boomers reach retirement age, and thousands of young veterans struggle with disabling injuries.
The field faces the same business challenges as any new area of medicine, said Perry Karsen, executive vice president of Celgene Corp. The biotech giant is based in Summit, N.J., and has an office in San Diego.
Its a new area of science. Its very similar to what we saw with monoclonal antibodies 20-25 years ago, Karsen said.
Monoclonal antibody drugs represent one of biotechs biggest success stories. They include drugs such as Humira, for autoimmune diseases, which brought in $9.3 billion in 2012. But many early attempts to develop monoclonal drugs failed spectacularly. Making these drugs work well took years of persistence.
Regenerative medicine is that next wave of innovation in the industry, and it has the same inherent risks as any new technology, Karsen said.
Celgene is investing in regenerative medicine because it will transform how health care is practiced, Karsen said, declining to say how much the company is spending.
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Stem cell meeting focuses on business