WEBVTT - Bloomberg Markets: Smarason on Genomic Data Platform

0:00:02.880 --> 0:00:07.240
<v Speaker 1>Broadcasting live to New York, Bloomberg Erio to Washington, d C,

0:00:07.400 --> 0:00:12.440
<v Speaker 1>Bloomberg to Boston, Bloomberg twelve hundred does San Francisco, Bloomberg

0:00:12.520 --> 0:00:16.040
<v Speaker 1>nine to the country, Sirius XM Chado one nine and

0:00:16.160 --> 0:00:19.200
<v Speaker 1>around the globe the Bloomberg Radio Plus app and Bloomberg

0:00:19.200 --> 0:00:22.960
<v Speaker 1>dot Com. This is Bloomberg Markets. All right, everybody who

0:00:22.960 --> 0:00:26.200
<v Speaker 1>are listening to Bloomberg Markets. Carol Masterlock, Corey Johnson. We

0:00:26.239 --> 0:00:30.440
<v Speaker 1>are live at the Museum of Science in Boston. Coming up,

0:00:30.440 --> 0:00:32.920
<v Speaker 1>we're gonna talk a little bit about gathering lots of

0:00:32.960 --> 0:00:36.680
<v Speaker 1>genomic data and how to put it to work. Yes,

0:00:37.159 --> 0:00:40.680
<v Speaker 1>really fascinating data approach to uh the world of genomas.

0:00:40.720 --> 0:00:42.279
<v Speaker 1>We're gonna take into that. But first us the very

0:00:42.320 --> 0:00:45.519
<v Speaker 1>latest in business news inline's from Charlie Pellis. All right,

0:00:45.520 --> 0:00:47.839
<v Speaker 1>thank you very much, Corey Johnson. Keep warm, guys. We

0:00:47.880 --> 0:00:50.560
<v Speaker 1>have got the dowin SMP. They are Laura nes Dak

0:00:50.640 --> 0:00:53.199
<v Speaker 1>trading at a record and this update is brought to

0:00:53.200 --> 0:00:56.120
<v Speaker 1>you by Upside. The smart new way to buy travel

0:00:56.240 --> 0:00:59.320
<v Speaker 1>is upside dot com. Save money and get a free

0:00:59.320 --> 0:01:03.600
<v Speaker 1>gift card re trip use code Business and you're guaranteed

0:01:03.600 --> 0:01:06.160
<v Speaker 1>at least a one hundred dollar gift card your first

0:01:06.160 --> 0:01:11.119
<v Speaker 1>time using upside dot Com. Minimum purchase required see side

0:01:11.160 --> 0:01:15.760
<v Speaker 1>for complete details. SMP five hundred index down two points

0:01:15.760 --> 0:01:18.679
<v Speaker 1>a little changed at twenty three ninety six, down one

0:01:18.720 --> 0:01:21.240
<v Speaker 1>tenth of one percent. Twenty eight minutes to go ahead

0:01:21.240 --> 0:01:23.600
<v Speaker 1>of the close, the down down thirty five, down two

0:01:23.640 --> 0:01:26.480
<v Speaker 1>tenths of one percent. Again, Nestack at a record up

0:01:26.560 --> 0:01:28.959
<v Speaker 1>sixteen a gain there of three tenths of one percent.

0:01:29.400 --> 0:01:32.360
<v Speaker 1>Gold down nine fifty ounce down eight tenths of one percent.

0:01:32.440 --> 0:01:35.720
<v Speaker 1>West Texas Intermediate Crude forty six oh two for a

0:01:35.760 --> 0:01:38.600
<v Speaker 1>barrel of w t I crude down nine tenths of

0:01:38.680 --> 0:01:42.319
<v Speaker 1>one percent. The Walt Disney Company reports after the closing

0:01:42.360 --> 0:01:45.920
<v Speaker 1>bell the focus will be on ESPN as well as

0:01:45.959 --> 0:01:49.800
<v Speaker 1>its theme park business, but Paul Sweeney Bloomberg Intelligence, Director

0:01:49.840 --> 0:01:52.920
<v Speaker 1>of North American Research, as investors will also be keeping

0:01:52.920 --> 0:01:56.040
<v Speaker 1>an eye on the film part of the Disney's business.

0:01:56.160 --> 0:01:58.680
<v Speaker 1>Every single year they've seen to turn out three or

0:01:58.840 --> 0:02:03.120
<v Speaker 1>four or five huge franchise tent pole pictures that are

0:02:03.160 --> 0:02:05.960
<v Speaker 1>out of a billion dollars in global box office. So

0:02:06.320 --> 0:02:08.880
<v Speaker 1>you know the acquisitions they made of Pixar and of

0:02:09.000 --> 0:02:12.079
<v Speaker 1>Marvel and of Lucasfilms have really paid off for Bob

0:02:12.080 --> 0:02:14.920
<v Speaker 1>Iger in the company. That business which historically has been

0:02:14.960 --> 0:02:17.440
<v Speaker 1>a very hit driven business, hit or miss for most

0:02:17.480 --> 0:02:19.720
<v Speaker 1>of the studios. Not for Disney. It's been a very

0:02:19.760 --> 0:02:22.240
<v Speaker 1>consistent growth story for them. And according to the earnings

0:02:22.320 --> 0:02:25.640
<v Speaker 1>Estimates function on the Bloomberg Disney looking for our investors

0:02:25.680 --> 0:02:28.639
<v Speaker 1>looking for a dollar forty one adjusted EPs out of

0:02:28.680 --> 0:02:32.919
<v Speaker 1>Disney on revenue of thirteen point four five five billion dollars.

0:02:33.280 --> 0:02:36.639
<v Speaker 1>Again recapping equities mixed her SMP down two points to

0:02:36.720 --> 0:02:39.720
<v Speaker 1>drop there of one tenth of one percent. I'm Charlie Kello.

0:02:39.960 --> 0:02:43.680
<v Speaker 1>That's a Bloomberg business flash. Alright, Charlie, thank you very much.

0:02:43.680 --> 0:02:45.360
<v Speaker 1>We are counting you down at the closing bell, just

0:02:45.440 --> 0:02:48.120
<v Speaker 1>twenty seven minutes to go. Brought to you by Sector

0:02:48.160 --> 0:02:50.560
<v Speaker 1>Spider E t S. Why by a single stock when

0:02:50.600 --> 0:02:53.520
<v Speaker 1>you can invest in the entire sector. Visit Sector spd

0:02:53.639 --> 0:02:56.880
<v Speaker 1>rs dot com or call Sector e t S. This

0:02:57.000 --> 0:03:10.080
<v Speaker 1>is Bloomberg part the evolution of the business and the

0:03:10.200 --> 0:03:13.760
<v Speaker 1>science of genomics is an amazing thing in Boston, certainly

0:03:13.800 --> 0:03:16.480
<v Speaker 1>at the at the leading edge of that. John's right now,

0:03:16.520 --> 0:03:19.519
<v Speaker 1>as Hans Modison, who is the CEO of a company

0:03:19.520 --> 0:03:22.720
<v Speaker 1>called Wooshi Next Code, which is trying to create a

0:03:22.760 --> 0:03:24.799
<v Speaker 1>sort of platform for using genomic data. What is the

0:03:24.840 --> 0:03:27.320
<v Speaker 1>problem that you guys are trying to solve. So we're

0:03:27.320 --> 0:03:30.280
<v Speaker 1>really trying to gather together in one place UM as

0:03:30.360 --> 0:03:33.160
<v Speaker 1>much of the world's genomic data as possible and make

0:03:33.200 --> 0:03:35.880
<v Speaker 1>it easily clearable by those who try to use it

0:03:36.000 --> 0:03:40.160
<v Speaker 1>for better you know, diagnosis or to develop novel drugs.

0:03:40.560 --> 0:03:42.760
<v Speaker 1>Is the is the collection or there? There are many

0:03:42.880 --> 0:03:47.960
<v Speaker 1>large depositories of genomic data are handful, probably, uh, but

0:03:48.200 --> 0:03:50.720
<v Speaker 1>I wonder if they're kept in very different data formats

0:03:50.760 --> 0:03:53.400
<v Speaker 1>that makes it tough for them to sort of work together. Yeah.

0:03:53.480 --> 0:03:55.200
<v Speaker 1>One of the key things you have to do is

0:03:55.240 --> 0:03:58.440
<v Speaker 1>really to harmonize all of the public available data UM,

0:03:58.600 --> 0:04:00.400
<v Speaker 1>make it in a form so that, know, you can

0:04:00.440 --> 0:04:02.960
<v Speaker 1>cross compare it and so forth. So in many ways,

0:04:03.320 --> 0:04:05.440
<v Speaker 1>what we try to do is similar to what Bloomberg

0:04:05.440 --> 0:04:07.960
<v Speaker 1>did in the financial industry. So bring together and create

0:04:08.200 --> 0:04:11.440
<v Speaker 1>a single data platform that allows you to access the data,

0:04:11.560 --> 0:04:14.560
<v Speaker 1>queriod understand it and makes sense of it. Do people

0:04:14.640 --> 0:04:16.719
<v Speaker 1>understand that that's kind of important to do to really

0:04:16.760 --> 0:04:19.800
<v Speaker 1>kind of get the most out of all that UM

0:04:19.960 --> 0:04:22.440
<v Speaker 1>gene data if you will. Oh yeah, because you have

0:04:22.480 --> 0:04:26.160
<v Speaker 1>to have kind of a common platform, do you not, absolutely?

0:04:26.200 --> 0:04:28.560
<v Speaker 1>I mean, if you want to use and make precision

0:04:28.600 --> 0:04:32.200
<v Speaker 1>medicine reality, you have to come up with an industrial

0:04:32.240 --> 0:04:34.680
<v Speaker 1>scale infrastructure that allows you to do this, you know,

0:04:34.760 --> 0:04:37.320
<v Speaker 1>not for just a handful of people, but for millions

0:04:37.320 --> 0:04:39.599
<v Speaker 1>of people. Um. So in order to do that, you

0:04:39.640 --> 0:04:42.600
<v Speaker 1>have to have these large, robust, big data systems, which

0:04:42.680 --> 0:04:45.360
<v Speaker 1>is what we're building. Well, how is the data different

0:04:45.400 --> 0:04:47.800
<v Speaker 1>than other large piles of data, because certain there's a

0:04:47.800 --> 0:04:49.320
<v Speaker 1>lot of data out there that's being manipulated by all

0:04:49.320 --> 0:04:53.280
<v Speaker 1>sorts of organizations and businesses already. Yeah, so, I mean

0:04:53.320 --> 0:04:56.480
<v Speaker 1>genomic data, of course, is very specific. Um each one

0:04:56.520 --> 0:04:59.560
<v Speaker 1>of us carries around three point two billion bases of

0:04:59.600 --> 0:05:02.599
<v Speaker 1>informay nation, which is encoded in our DNA. So the

0:05:02.640 --> 0:05:05.240
<v Speaker 1>sequence I have a single person, the whole genome sequences

0:05:05.240 --> 0:05:08.400
<v Speaker 1>about a hundred and twenty gigabytes, So it's awfully large.

0:05:09.040 --> 0:05:11.320
<v Speaker 1>So you multiply that times you know, a million people,

0:05:11.440 --> 0:05:14.360
<v Speaker 1>you get to some really really large numbers. Where are

0:05:14.400 --> 0:05:16.719
<v Speaker 1>you in the process of building this platform. Well, we've

0:05:17.320 --> 0:05:19.040
<v Speaker 1>actually been doing it for the you know, on and

0:05:19.040 --> 0:05:21.880
<v Speaker 1>off for the past twenty years. So we started UM

0:05:21.920 --> 0:05:23.960
<v Speaker 1>as a spin out from a company called Deco Genetics,

0:05:24.240 --> 0:05:26.560
<v Speaker 1>which is where a lot of this technology was developed

0:05:26.960 --> 0:05:31.800
<v Speaker 1>and UM that's right, and UM in the process was

0:05:31.880 --> 0:05:34.760
<v Speaker 1>being used you know, to sort of organize, mine and

0:05:34.800 --> 0:05:37.680
<v Speaker 1>manage arguably one of the biggest data repositories of you

0:05:37.760 --> 0:05:39.960
<v Speaker 1>know what, make information in the world. So we do

0:05:40.040 --> 0:05:42.520
<v Speaker 1>have a little bit of legacy and history of working

0:05:42.560 --> 0:05:45.200
<v Speaker 1>with with big data like this, and and and and

0:05:45.240 --> 0:05:47.720
<v Speaker 1>now we've been able to deploy it in various areas.

0:05:47.760 --> 0:05:49.520
<v Speaker 1>We worked a lot with BC for instance. That's what

0:05:49.560 --> 0:05:51.760
<v Speaker 1>I want to hear, how you de Yeah, So we

0:05:51.839 --> 0:05:55.760
<v Speaker 1>worked with a number of both pharma companies and large

0:05:55.800 --> 0:05:58.520
<v Speaker 1>hospitals in particular, so here in the Boston area, for example,

0:05:58.560 --> 0:06:00.720
<v Speaker 1>we work a lot with the Boston Shield Dren's Hospital,

0:06:01.200 --> 0:06:04.960
<v Speaker 1>UM helping them to diagnose children with rare disorders. UM.

0:06:05.000 --> 0:06:08.160
<v Speaker 1>We also work with some pharmaceutical companies like a v

0:06:08.640 --> 0:06:11.640
<v Speaker 1>Is is a partner of ours, doing large scale discovery

0:06:12.040 --> 0:06:15.640
<v Speaker 1>in partnership with with another company in Ireland. UM. We

0:06:15.760 --> 0:06:18.799
<v Speaker 1>also work with a number of precision medicine programs around

0:06:18.800 --> 0:06:21.839
<v Speaker 1>the world. So we're assisting Geno England in the UK

0:06:22.320 --> 0:06:25.479
<v Speaker 1>with our initiative. UM. We also work with the Guitaris

0:06:25.520 --> 0:06:28.279
<v Speaker 1>and the Qutari Genio project and and so forth. So

0:06:28.760 --> 0:06:32.360
<v Speaker 1>we're active around the world in many different instances. Where

0:06:32.400 --> 0:06:35.800
<v Speaker 1>are the largest depositories of uh, if that's right, were

0:06:35.360 --> 0:06:38.920
<v Speaker 1>the deposits of data generic data? And how were those?

0:06:39.520 --> 0:06:42.480
<v Speaker 1>How is the data acquired? Well, I mean I think,

0:06:42.680 --> 0:06:45.280
<v Speaker 1>for example, twenty three and me company that that part

0:06:45.279 --> 0:06:48.400
<v Speaker 1>of the ANJIK is based a concept of the business is,

0:06:48.680 --> 0:06:51.560
<v Speaker 1>let's create a great database that can be used anonymously

0:06:51.600 --> 0:06:54.520
<v Speaker 1>just to do the specific drugs and so on. Right. Yeah,

0:06:54.560 --> 0:06:57.400
<v Speaker 1>So obviously some of the some of large collections of

0:06:57.400 --> 0:06:59.760
<v Speaker 1>of of DNA and some early molecular data are with

0:06:59.839 --> 0:07:02.080
<v Speaker 1>some these consumer companies like twenty three and me and

0:07:02.400 --> 0:07:06.720
<v Speaker 1>Ancestry dot com is another one, um color yeah, and

0:07:06.760 --> 0:07:09.680
<v Speaker 1>then um uh and then the other big sources of

0:07:09.680 --> 0:07:13.040
<v Speaker 1>course of these large national programs. So what do you anticipate,

0:07:13.160 --> 0:07:15.160
<v Speaker 1>you know, like you said, there's so much data out there,

0:07:15.200 --> 0:07:16.840
<v Speaker 1>but then being able to put it to work for

0:07:16.880 --> 0:07:22.120
<v Speaker 1>either treatments, treatment modalities. Um, what do you see kind

0:07:22.120 --> 0:07:25.440
<v Speaker 1>of using this data? What will it do? Yeah? So

0:07:25.480 --> 0:07:28.560
<v Speaker 1>it's gonna basically allow you to come up with a

0:07:28.680 --> 0:07:32.760
<v Speaker 1>much quicker and more accurate diagnosis of different diseases. Um,

0:07:32.760 --> 0:07:34.880
<v Speaker 1>it's going to allow you to develop therapies that are

0:07:35.560 --> 0:07:38.080
<v Speaker 1>effective for you, for you as a person. So it's

0:07:38.160 --> 0:07:40.920
<v Speaker 1>kind of personalized medicine exactly. So it's going from one

0:07:40.960 --> 0:07:44.480
<v Speaker 1>size fits all to to really being bespoken custom to

0:07:44.600 --> 0:07:47.440
<v Speaker 1>the genomic makeup of each one of us and therefore

0:07:47.560 --> 0:07:50.320
<v Speaker 1>much more effective and fewer side effects. Remember we talked

0:07:50.320 --> 0:07:53.280
<v Speaker 1>with Bob right about UH when he was with Autism

0:07:53.280 --> 0:07:55.120
<v Speaker 1>speaks about I think they were working with with at

0:07:55.120 --> 0:07:58.280
<v Speaker 1>Google in terms of because each case of autism is different,

0:07:58.560 --> 0:08:02.360
<v Speaker 1>and so you can create that are forms of treatment exactly. Yeah,

0:08:02.560 --> 0:08:05.520
<v Speaker 1>it's all about trying to personalize the experience, you know,

0:08:05.680 --> 0:08:08.000
<v Speaker 1>put the resources in and the technology to work so

0:08:08.080 --> 0:08:10.840
<v Speaker 1>that it benefits the patient in the most effective mannering.

0:08:11.000 --> 0:08:17.440
<v Speaker 1>Someday medicine will be just like all my suits included.

0:08:18.680 --> 0:08:22.960
<v Speaker 1>That's my cost a little extra, really fascinating stuff. Hans Smartison,

0:08:23.120 --> 0:08:26.560
<v Speaker 1>Uh for the CEO of Yeah, Honnest Smartson, I was

0:08:26.600 --> 0:08:29.640
<v Speaker 1>so excited to rule my rs UH from Wushi next Go.

0:08:29.760 --> 0:08:31.000
<v Speaker 1>Thank you very much for joining U out here in

0:08:31.000 --> 0:08:32.959
<v Speaker 1>the cold. We appreciate it. Thank you for the look

0:08:33.000 --> 0:08:35.400
<v Speaker 1>of world of national news headlines with Nathan Hagar, who

0:08:35.440 --> 0:08:38.760
<v Speaker 1>was in the nation's capital for President Trump is putting

0:08:38.760 --> 0:08:41.120
<v Speaker 1>off a decision Corey on whether to keep the US

0:08:41.320 --> 0:08:44.840
<v Speaker 1>in the Paris Climate Accord. White House spokesman Sean Spicer

0:08:44.960 --> 0:08:47.520
<v Speaker 1>had said the President would make up his mind before

0:08:47.640 --> 0:08:50.360
<v Speaker 1>the G seven summit later this month, but now he

0:08:50.440 --> 0:08:53.000
<v Speaker 1>says the President wants the opportunity to meet with his

0:08:53.080 --> 0:08:56.040
<v Speaker 1>team to create the best strategy. This move could also

0:08:56.080 --> 0:08:59.560
<v Speaker 1>allow President Trump to press world leaders for concessions. Now

0:08:59.600 --> 0:09:01.760
<v Speaker 1>all the pres us that it waits. A new study

0:09:01.760 --> 0:09:04.720
<v Speaker 1>from the u N's Climate Change Arms says global temperatures

0:09:04.720 --> 0:09:07.280
<v Speaker 1>could top one and a half degree celsius above pre

0:09:07.320 --> 0:09:10.320
<v Speaker 1>industrial levels within the next fifteen years. That is the

0:09:10.360 --> 0:09:13.120
<v Speaker 1>first threshold under the Paris Deal. A co author of

0:09:13.160 --> 0:09:15.840
<v Speaker 1>this study tells The Washington Post there is increased urgency

0:09:15.880 --> 0:09:19.000
<v Speaker 1>to do something about minimizing global warming. The White House

0:09:19.040 --> 0:09:22.320
<v Speaker 1>is defending President Trump's timetable for firing Michael Flynn as

0:09:22.400 --> 0:09:26.559
<v Speaker 1>National Security Advisor, eighteen days after then Deputy Attorney General

0:09:26.559 --> 0:09:29.400
<v Speaker 1>Sally Yates warned that Flynn may have been compromised by

0:09:29.440 --> 0:09:33.040
<v Speaker 1>the Russians. I think he did have an honorable career.

0:09:33.040 --> 0:09:36.600
<v Speaker 1>He served with distinction in uniform for over thirty years,

0:09:36.600 --> 0:09:38.640
<v Speaker 1>and the President does not want to smear a good man.

0:09:38.679 --> 0:09:41.840
<v Speaker 1>Spokesmen Sean Spicer says the President was informed right away

0:09:41.880 --> 0:09:44.720
<v Speaker 1>when Yates aired her concerns. He calls Yates an opponent

0:09:44.800 --> 0:09:47.120
<v Speaker 1>of the president. He says it was widely rumored she

0:09:47.120 --> 0:09:49.800
<v Speaker 1>would have taken a role in a Hillary Clinton administration.

0:09:50.520 --> 0:09:53.840
<v Speaker 1>The Department of Homeland Securities thinking of expanding restrictions on

0:09:53.880 --> 0:09:57.320
<v Speaker 1>electronic devices and airport cabins. You may call back. In March,

0:09:57.440 --> 0:10:00.559
<v Speaker 1>DHS banned devices larger than cell phones on flights from

0:10:00.600 --> 0:10:04.360
<v Speaker 1>ten Middle Eastern airports. A DHS spokesman says the agency's

0:10:04.400 --> 0:10:07.559
<v Speaker 1>talking with airlines and others and hasn't yet determined how

0:10:07.559 --> 0:10:10.040
<v Speaker 1>to proceed. Global News powered by more than twenty six

0:10:10.120 --> 0:10:13.000
<v Speaker 1>hundred journalists and analysts in more than one hundred twenty countries.

0:10:13.000 --> 0:10:14.400
<v Speaker 1>This is Bloomberg