My main... concern? is that big pharmaceutical companies would use all the work done here pro-bono to create medicines that then will sell for huge amounts of moneys to poor people.

Am I too paranoid / ignorant ?

The raw results can only be accessed by folks in the bakerlab, though the key results are made available with the publication of a paper.

The University of Washington patents everything that could potentially benefit pharmaceutical companies, before publication. If the companies do decide to use any of the data, they would give money to UW, which would then go back towards research!

To add what Krypton stated. Sure a drug company could try to charge a lot of money, but since University of Washington owns the patents, they would license it to more than one drug company. So you get competition and if they colluded to fix the price, they would be in deep trouble.