Can someone give me some information on what all is involved for new drug research? I'm only interested in new molecular entities (not the retarded "me too" drugs). I'm thinking first a target for a drug needs to be discovered/isolated and studied for structure and function, like a new protein. Then, I guess a new drug can be chemically built that will modify or change the function of this target. How do clinical trials work? I've heard of Phase I, II, III. Thank you for your help.