I think anyone could answer this question -- fundraising is extremely time consuming, which means less time for actual product development. YC is the fundraising strategy since the demo day blasts lots of investors with the same chunk of information which is more efficient than individually pitching to each investor through typical fundraising processes. Investors are typically picky on who can pitch them, so unless you have an intro, it's hard to do a cold-call pitch. YC is a fast way to get an intro to everyone in the valley.
Howdy! I definitely understand your comment and the reason why I ask is bc typically biotech firms don't fit the early stage model, so I was just trying to get more info on why he chose the early stage model (past his stated reasons of not having a long time to market)