Yosemite is targeting $350 million to make cures for cancer, says founder Reed Jobs

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He didn't want to talk about his dad.

He wanted to talk about p53.

Meet Reed Jobs — yes, that Jobs — and the venture firm he's built to go after cancer's most unkillable targets.

Three years ago, Yosemite was a brand-new idea born into a crashed biotech market.

Today?

It's chasing $350 million for its second fund, running 25 portfolio companies, and moving faster than even its founder expected.


🧬 Why oncology, and why "build it yourself"?

Most VCs wait for hot deals to walk in the door.

Yosemite goes the other way.

  • 🎯 Only works in oncology — 40% of all biotech
  • 🏗️ About a third of the fund builds companies from scratch, out of raw academic research
  • 💰 A slice of every fund goes into no-strings philanthropy — grants, no equity, no catch

Two of their companies came directly out of a grant.

That's not typical venture math. That's a different bet entirely.


🤯 The "undruggable" targets are suddenly drug-able

For decades, KRAS was nicknamed the Death Star.

Smooth. No handle. No way in.

Then AI helped scientists find a crack.

👉 Revolution Medicines' KRAS drug just doubled survival in the deadliest pancreatic cancer — from 12 months to 24.

That happened in the last year alone.

Now Yosemite has three companies chasing an even bigger prize: p53, the gene almost every cancer has to disable to survive.

Fun fact hiding in plain sight — elephants barely get cancer because they carry dozens of backup copies of p53. Humans get just one.

Turn it back on, and you may have found cancer's actual Achilles' heel.


💸 The money is finally showing up

  • 🏦 Pharma is entering its biggest patent cliff ever, sitting on record cash
  • 📈 Eli Lilly just bought Kelonia for $7 billion
  • 🧪 A Phase 3 cancer trial costs $260 million — and only 1 in 3 succeeds
  • 🤖 AI-built "synthetic control arms" could cut required patients in half

Even the NIH threat cooled — a proposed 40% budget cut got rejected outright last year, bipartisan and unanimous.

Jobs isn't chasing headlines with a famous surname.

He's chasing the genes nobody else could touch.

And for the first time in decades, they're starting to move.

That's all for now!