Development of medicines made a significant contribution to the dramatic increase of life expectancy within last 150 years. These days we are witnessing a rapid progress of pharmaceutical science. Targeted small-molecule drugs, monoclonal antibodies, gene and cell therapies save lives of patients with diseases that were previously thought to be incurable. The lecture will provide a brief overview of these novel drug classes and approaches for their discovery. We’ll talk briefly about phases of drug development and regulation of medicines – how it evolves and how it is adapting to the new reality.