Reed Jobs is steering Yosemite, the oncology-focused venture firm he launched in 2023, to tackle cancer cures with cutting-edge biotechnology and AI advancements.
Yosemite's Unique Venture Approach
Yosemite stands out in the venture capital landscape due to its exclusive focus on oncology, representing 40% of biotech, and its strategy of building companies from scratch. Reed Jobs emphasizes that the cures for cancer aren't sitting in pharma but need to be developed using new knowledge. Yosemite's unique approach includes utilizing no-strings-attached philanthropy to de-risk early ideas emerging from university labs.
Among Yosemite's portfolio, Jobs highlights Azalea, a company originating from a grant to Jennifer Doudna's lab, and Quarry, developed with Craig Crews, focusing on a novel therapeutic approach called induced proximity.
AI's Role in Drug Discovery
AI plays a critical role in Yosemite's operations, significantly impacting drug discovery and clinical trial design. Jobs notes that AI accelerates a lot of the grunt work, enabling faster, reproducible outcomes. It has aided in targeting previously undruggable proteins, such as KRAS, a gene long considered difficult to target.
AI's potential extends to clinical trials, where it could streamline processes and reduce costs by creating synthetic control arms, a method the FDA is currently exploring.
Funding and Partnerships
Yosemite's second fund targets $350 million, with about a third earmarked for companies they create, often in collaboration with academic institutions like Yale, Berkeley, and Stanford. The rest supports existing companies that align with Yosemite's goals. A portion of the fund is dedicated to a donor-advised fund for no-strings-attached grants, emphasizing Yosemite's philanthropic ethos.
Jobs acknowledges shifts in the biotech investment landscape, with improved interest rates and pharmaceutical companies navigating patent cliffs, likening the current environment to an acquisitive spree.
Challenges and Opportunities
Despite challenges, such as NIH budget cut proposals, Jobs remains optimistic about bipartisan support for research funding. He advocates for increased NIH funding, noting its critical role in advancing scientific research.
Yosemite's portfolio includes close to 25 companies, with two failing due to scientific challenges. Jobs emphasizes the importance of understanding pharma as a moving target, advising founders to remain aware of active players in their fields.
Storytelling also plays a crucial role in biotech success, with Jobs highlighting the need for effective communication from CEOs to secure funding and support.
Future Prospects
Looking ahead, Jobs is excited about the potential of GLP-1s, which may offer protective benefits against neurodegenerative diseases and cancer. He is optimistic about targeting genes like KRAS and p53, which have long eluded researchers.
Regarding the longevity industry, Jobs expresses interest but remains cautious, pointing out the complexity and individual nature of aging. He sees potential in healthcare optimizing longevity on a personalized basis.
Source: https://techcrunch.com/2026/07/11/reed-jobs-would-rather-talk-about-curing-cancer-than-his-last-name/
