Reed Jobs raises $350m to make cancer non-lethal

Not a cure, but a goal

Reed Jobs, Steve Jobs's son and a venture investor, aims to make cancer non-lethal rather than curable. He argues that curing cancer entirely is impossible because human cells can always become cancerous.

“I don't think you'll cure cancer because we're human. Any human cell could become cancerous, right?”

The AIDS model

Jobs points to AIDS as a template. Though no vaccine exists, it became far less scary in the United States because drugs prevent mortality. He calls this victory over death the most essential victory possible.

“With a cocktail of drugs, you can actually prevent mortality. In many ways, I think that's a massive victory.”

A lifelong mission

Jobs started working in cancer labs as a teenager when his father got sick.Steve Jobs died in two thousand eleven.

Yosemite's second fund closes

Yosemite closed its second fund at three hundred fifty million dollars, a significant jump from the first close at two hundred million dollars in January.

A hybrid model

Yosemite operates as both a traditional venture firm investing in startups for venture-scale returns and a philanthropic grant-maker funding university scientists. Jobs says grants allow testing new ideas quickly and cheaply before committing major resources.

“With philanthropy, we can fail really cheaply. That's the real wisdom behind this.”

First fund portfolio

Yosemite's first fund, closed in two thousand twenty-four at two hundred sixty-three million dollars, invested in AI drug discovery startup Chai Discovery, cervical cancer screening company Teal Health, epi-therapeutic medicine maker Tune Therapeutics, and care…

A consortium approach

Jobs believes no single company will make cancer non-lethal. Instead, he expects a consortium of approaches working together, likely progressing cancer by cancer. This reflects how he sees healthcare and science ultimately evolving.

“I don't think a company alone is going to make cancer non-lethal. I think it's going to be a consortium of things.”

Recent scientific breakthroughs

When Jobs started Yosemite in two thousand twenty-three, biotech was in a slump that has since recovered substantially.He credits major scientific advancements over the last three years in GLP-ones, immunotherapy, and vaccines against pancreatic cancer.

“You couldn't have told me four years ago that we'd be sitting here today and we would have the advancements in GLP-1s, in immunotherapy, in vaccines now, and against pancreatic cancer that we've achieved.”

A long-term play

Jobs says his father would advise him to stay on the path because they share a talent for long-term building.Yosemite will not reach its peak success in the next year or two.

“Yosemite is not going to, as you know, reach its zenith of success in the next year or two. This is a long-term play that's going to take my whole life.”