Successfully closed upsized IPO, raising $88 million in gross proceeds to continue advancing pipeline of Selected TIL Therapy programsCash position expected to fund operations into second quarter of.
Clinical-stage biotechnology company Turnstone Biologics Corp has filed for an $86 million IPO on the Nasdaq. The San Diego-based firm, which is developing.
One of Ottawa’s most highly-touted biotech startups has secured the city’s largest venture capital deal in nearly three years.
Turnstone Biologics was cofounded by three Ontario physicians including Dr. John Bell of the Ottawa Hospital and is developing cancer-fighting viruses. On Wednesday, the firm said it had completed a US$80-million series-D funding round led by PFM Health Sciences and Point72.
“This oversubscribed financing will allow us to advance our vision to benefit millions of cancer patients underserved by current treatment options,” said Turnstone president and CEO Sammy Farah in a statement.
Turnstone, which also maintains offices in New York, where Farah is based, and San Diego, has already raised more than $50 million as it develops groundbreaking treatments that use the body’s own immune system to battle cancer. The firm is widely regarded as a leader in the emerging field of immunotherapy, in which viruses that attack malignant tumours are administered
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