Turnstone Biologics raises $41.4mm through Series B round

Turnstone Biologics Inc. (cancer therapies) raised $41.4mm through its Series B round from new investors OrbiMed and F-Prime (which both take board seats), along with returning backers FACIT and Versant Ventures. Funds will support completion (in 2017) of an ongoing Phase I/II trial with Turnstone's lead oncolytic Maraba virus candidate for melanoma. The company plans to expand indications for that therapy (in combination with a checkpoint inhibitor) to include non-small cell lung cancer later this year, and will also continue work on two additional preclinical Maraba virus-based therapies for other cancers.