Turnstone raises $80 million for cancer treatments

Published: 23 July 2021

Immunotherapy-focused biotech Turnstone Biologics has snagged £80M in series D financing to take tumor infiltrating lymphocyte (TIL) and oncolytic virus platforms through the clinic. 

Turnstone’s oncolytic virus candidate, RIVAL-01, is based on a vaccinia virus platform, and is currently in a phase I/IIa study. 

“Turnstone is developing next-generation medicines in two of the most clinically validated fields of immunotherapy for solid tumors,” said Sammy Farah, President and CEO at Turnstone, in a press release. “This oversubscribed financing will allow us to advance our vision to benefit millions of cancer patients underserved by current treatment options. We are delighted to welcome PFM Health Sciences, Point72 and additional new investors to Turnstone, and we are grateful for the steadfast support of our existing syndicate.”

Meanwhil,e lead TIL therapy, TIDAL-01, is planned to enter clinical development early next year. "The addition of the TIL therapy platform to Turnstone’s existing viral immunotherapy creates a significant strategic advantage for the Company,“ scommented Santhosh Palani, who will be joining the company’s board of directors. “Turnstone’s TIL programs represent the most direct approach to advance the field as there is strong clinical evidence that selection of tumor reactive T-cells can drive better patient outcomes. The enhanced benefit and curative potential that Turnstone can uniquely bring by combining viral immunotherapy with TILs to solve challenges associated with solid tumors, drives yet another layer of excitement.”