Reed Jobs's Yosemite Raises $350M Fund to Build Cancer-Curing Biotech Startups

Executive Briefing

• Targets $350 million for second fund, with roughly one-third allocated to building companies from scratch alongside academic researchers
• Credits AI with expanding druggable genome targets from 15% to new frontiers, accelerating drug discovery and clinical trial design
• Highlights Revolution Medicines' KRAS breakthrough doubling pancreatic cancer survival rates from 12 to 24 months as a recent landmark win
• Warns NIH faces its largest proposed budget cut in history at 12%, though expects bipartisan congressional rejection as in prior year
• Sees pharma patent cliff and record cash reserves driving an acquisitions spree, citing Eli Lilly's $7 billion purchase of Kelonia