# Turnstone Biologics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/turnstone-biologics

- Industry: Biotechnology
- Headquarters: La Jolla, US
- Website: www.turnstonebio.com
- Total disclosed funding: $133M
- Latest round: Series D (Jun 29, 2021)
- Investors on record: 17

## About

Turnstone Biologics Corp. is a US-based biotechnology company focused on developing innovative immunotherapies for cancer treatment, particularly utilizing tumor infiltrating lymphocyte (TIL) therapies to enhance patient outcomes.Founded in 2018 in La Jolla, US, Turnstone Biologics Corp. specializes in advanced cancer therapies. The company has raised a total of USD 80.00 mn through its recent IPO on July 20, 2023, selling 6.6 million shares at USD 12 per share on NASDAQ under the ticker symbol 'TSBX'. David Stojdl is the founder of the company, which has completed 5 deals to date.Turnstone Biologics develops advanced cancer immunotherapies, focusing on tumor infiltrating lymphocyte (TIL) therapies. Its core offering, Selected TILs, targets the most effective tumor-reactive T cells for personalized treatment, addressing challenges in solid tumor therapies. The company operates primarily in North America, Europe, and parts of Asia, collaborating with cancer centers and academic institutions to advance its therapies.In 2022, Turnstone Biologics reported a revenue of USD 73.30 mn. The company's EBITDA for the same year was -USD 72,494.Following its IPO in July 2023, Turnstone Biologics Corp. plans to leverage the USD 80.00 mn raised to support its pipeline of oncolytic virus and TIL treatment candidates. The company aims to expand into new markets, including Europe and parts of Asia, by targeting strategic partnerships and collaborations with leading cancer treatment centers. Turnstone is focused on advancing its flagship product, TIDAL-01, while also introducing additional innovative products to its portfolio.

## Funding rounds

- Series D, Jun 29, 2021, $80M — OrbiMed Advisors, Northleaf Capital Partners, Versant Ventures, F-Prime Capital, Teralys Capital, Sectoral Asset Management, Takeda Ventures, JM Family Enterprises, Ridgeback Capital Management, Eventide Asset Management, Brace Pharma Capital, Point72 Asset Management, Surveyor Capital, Sixty Degree Capital, CaaS Capital Management, PFM Health Sciences
- Series B, Nov 2, 2016, $41M — OrbiMed Advisors, Versant Ventures, F-Prime Capital, Tjänstebilen
- Series A, Oct 28, 2015, $11M — Versant Ventures, Tjänstebilen

## Investors

- Versant Ventures (https://capitalatlas.ai/funds/versant-ventures) — Series A, Series B, Series D
- Tjänstebilen — Series A, Series B
- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series B, Series D
- F-Prime Capital (https://capitalatlas.ai/funds/f-prime-capital) — Series B, Series D
- Northleaf Capital Partners (https://capitalatlas.ai/funds/northleaf-capital-partners) — Series D
- Teralys Capital (https://capitalatlas.ai/funds/teralys-capital) — Series D
- Sectoral Asset Management (https://capitalatlas.ai/funds/sectoral-asset-management) — Series D
- Takeda Ventures (https://capitalatlas.ai/funds/takeda-ventures) — Series D
- JM Family Enterprises — Series D
- Ridgeback Capital Management — Series D
- Eventide Asset Management (https://capitalatlas.ai/funds/eventide-asset-management) — Series D
- Brace Pharma Capital (https://capitalatlas.ai/funds/brace-pharma-capital) — Series D
- Point72 Asset Management — Series D
- Surveyor Capital — Series D
- Sixty Degree Capital (https://capitalatlas.ai/funds/sixty-degree-capital) — Series D
- CaaS Capital Management (https://capitalatlas.ai/funds/caas-capital-management) — Series D
- PFM Health Sciences (https://capitalatlas.ai/funds/pfm-health-sciences) — Series D