Nov-2016
Start-up Turnstone Biologics Closes USD $41M Financing
Turnstone Biologics Inc. (“Turnstone”), an Ontario-based developer of novel oncolytic viral immunotherapies, announced the closing of a USD $41.4 million Series B financing. Founded in 2015, Turnstone is the result of a unique collaboration between the Ontario Institute for Cancer Research (“OICR”), McMaster University and other Ontario hospitals and institutes.
This financing is one of the largest recent Series B rounds for an Ontario biotechnology company and provides validation of not only the quality of the innovative science in the province.
Proceeds from the financing will support an ongoing Phase I/II clinical trial in patients with advanced or metastatic solid tumours as well as accelerate and expand Turnstone’s pipeline, funding the development of three additional programs into the clinic.
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