OrbiMed, Versant-led round continues commercialization success for Turnstone's cancer therapies TORONTO, Nov. 2, 2016 /PRNewswire/ - 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 led by OrbiMed Advisors LLC ("OrbiMed") and Versant Ventures ("Versant"), which led Turnstone's Series A round in October 2015. New investor F-Prime Capital Partners ("F-Prime") and existing founding investor FACIT also participated. 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. In connection with the financing Orbimed's Rishi Gupta, JD and F-Prime's Ben Auspitz will join Turnstone's board of directors alongside Versant's Brad Bolzon, PhD and Jerel Davis, PhD as well as FACIT's Jeff Courtney. Founded in 2015, Turnstone is the result of a unique collaboration between the Ontario Institute for Cancer Research ("OICR"), McMaster University, Children's Hospital of Eastern Ontario and the Ottawa Hospital Research Institute, with FACIT providing the initial financing and management to support the formation of Turnstone. Since beginning operations, Turnstone has raised over CAD $65 million including this latest round, built out the management team and initiated clinical trials with its lead product.