The Biotech Startups Podcast

In this episode of The Biotech Startups Podcast, co-founder and CEO of Abalone Bio, Richard Yu reflects on how processing grief after losing his co-founder, Gustavo Pesce, brought clarity and renewed focus — stripping away the inessential and driving him forward at Abalone Bio. He unpacks the strategic thinking behind the pipeline, from developing CB2 agonist antibodies that reverse fibrosis and reduce neuropathy, to deciding which programs to partner versus develop internally based on value inflection points. Richard also reflects on hitting his 400th VC rejection, why the West Coast's frontier mentality fuels entrepreneurial resilience, how the rise of China's biotech ecosystem is pushing US startups toward novel targets as a competitive moat, and how AI has transformed once-impossible problems — from protein folding to natural language — into solved challenges that are fundamentally reshaping drug discovery.

In this episode of The Biotech Startups Podcast, Richard Yu, co-founder and CEO of Abalone Bio, reflects on building a company around a bold scientific vision — and the personal moments that shaped his leadership along the way. He unpacks the core insight behind Abalone Bio's yeast-based screening platform: that conventional antibody discovery optimizes for binding over function, like grabbing scissors by the blades. Richard also opens up about the devastating loss of co-founder Gustavo Pesce in a 2021 skiing accident, how the team and investors rallied with unwavering support, and how that crisis ultimately sharpened his sense of purpose and focus. From weathering hundreds of investor rejections to landing partnerships with Pfizer and Sichuan Pharma, Richard offers an honest look at running a biotech startup with a platform-driven, portfolio-management mindset.

In this episode of The Biotech Startups Podcast, we continue our conversation with Richard Yu, CEO and co-founder of Abalone Bio, as he traces his path from academic scientist to entrepreneur—starting with the 2008 alternative energy boom that led him to co-found algae biofuel startup Green Pacific Biologicals and deliver a two-slide, science-only VC pitch that sparked a new sense of purpose. He reflects on shutting the company down in 2013 and realizing that scientific feasibility alone doesn’t build a business, then describes how joining QB3’s incubator immersed him in hundreds of therapeutics startups, taught him the business side of company building, and ultimately set the stage for founding Abalone Bio and entering Y Combinator’s March 2020 batch just as COVID-19 began disrupting the world.

"The magic is always at the intersections." In this episode of The Biotech Startups Podcast, we explore CEO & co-founder of Abalone Bio, Richard Yu’s journey from his Midwestern and New Jersey upbringing as the son of Chinese immigrants to UC Berkeley and Yale, tracing how living at the intersection of cultures and disciplines shaped his identity as a scientist and founder. He shares how a friend's pitch about “engineering proteins to eat dirt” pulled him from physics into biophysics, igniting a passion for treating biology as an engineering discipline. Along the way, Richard contrasts Berkeley’s sink-or-swim entrepreneurial energy with Yale’s rigorous East Coast culture, reflects on mentors who sharpened his scientific thinking, and explains how his early interest in systems biology and an unconventional postdoc path ultimately laid the foundation for Abalone Bio.

In this episode of The Biotech Startups Podcast, Sujal Patel recounts his transition from enterprise data storage to co-founding Nautilus Biotechnology — sparked by a 2016 email from scientist Parag Mallick declaring "I think I've come up with something important." Sujal breaks down why proteomics is one of science's most urgent unsolved challenges, explaining that while 95% of FDA-approved drugs target proteins, current mass spectrometry methods produce incomplete and irreproducible data. He details how Nautilus tackles this by simultaneously analyzing billions of molecules using iterative antibody binding on a chip-based system, and reflects candidly on his journey to becoming a biotech CEO — from YouTube chemistry lectures at 2x speed to learning how to lead PhD scientists who think very differently than software engineers.

In this episode of The Biotech Startups Podcast, we dive into part three of Founder and CEO at Nautilus Biotechnology, Sujal Patel’s story—zooming in on the high-stakes path to Isilon’s acquisition by EMC and what it really feels like to negotiate while your company, your board, and the market clock are all in motion. Sujal walks through how the “strategic partnership” conversations revealed themselves as acquisition positioning, why EMC’s approach felt unusually aggressive and old-school, and how a deal can appear to die on the finish line—only to roar back to life under intense time pressure. Sujal also shares the tactical and emotional reality of price negotiation, from holding the line when an acquirer tries to anchor you, to staying disciplined in your responses, to making decisions fast when the range tightens and leaks force a deadline. From there, the conversation expands into what happens after the announcement: the commitments he made to EMC about scaling the business, the organizational decisions that protected long-term value, and the personal calculus behind eventually leaving—even when bigger roles were on the table.

In this episode of The Biotech Startups Podcast, we dive into Sujal Patel's bold decision to leave RealNetworks and co-found Isilon Systems, a distributed storage company built to solve a problem he witnessed firsthand — enterprise customers spending millions on storage systems that simply couldn't handle media files. Sujal shares how a pair of scissors on his desk became the unlikely symbol that pushed him and co-founder Paul Mikesell to finally take the leap. Sujal recounts the harrowing experience of launching a company at the peak of the dot-com collapse, watching his RealNetworks stock fall from $100 to $8, and still managing to close an $8.4 million Series A as the only such deal in Seattle that year. He walks through Isilon's early growth, landing marquee customers like Kodak by overdelivering on impossible timelines, and the painful but necessary decision to fire both the CEO and CFO of a public company — all while his wife was pregnant with twins — on the same day Lehman Brothers collapsed.