July 21 Quick Takes: Turnstone’s $80M round to advance oncolytic virus, TIL programs
Plus: Vedanta, bluebird, Cytokinetics and more
Six months after Turnstone Biologics Corp. acquired Myst Therapeutics Inc. to gain tumor-infiltrating lymphocyte technologies that complement its existing pipeline of oncolytic viruses, the biotech has raised $80 million in a series D round led by PFM Health Sciences and Point72. Also participating are Eventide Asset Management, Citadel-backed Surveyor Capital, Ridgeback Capital Investments, Takeda Ventures Inc., CaaS Capital, JM Family Enterprises Inc., Northleaf Capital Partners and 404 Bio, as well as prior investors Versant Ventures, OrbiMed, F-Prime Capital, Sectoral Asset Management, Sixty Degree Capital, Brace Pharma Capital and Teralys Capital.
Microbiome company Vedanta Biosciences Inc. has completed a $68 million series D round as it prepares to advance lead candidate VE303 into a Phase III trial to treat Clostridioides difficile infection, due to begin in mid-2022. The round includes a $25 million contribution from Pfizer Inc. (NYSE:PFE) that was announced in January. Vedanta also expects to start a Phase II study this half of another therapy, VE202, to treat ulcerative colitis. Magnetar Capital led the new round alongside Verition Fund Management, Fosun Health Capital, co-founder PureTech Health plc (LSE:PRTC; NASDAQ:PRTC), Rock Springs Capital, Skyviews Life Science, JSR Corp., SymBiosis, Shumway Capital, and Seventure Partners’ Health for Life Capital...