On­colyt­ic con­tender Turn­stone bags a $41M B round to push a suc­ces­sor for Im­ly­g­ic

Ever since Am­gen made it to the mar­ket with a pi­o­neer­ing on­colyt­ic virus can­cer ther­a­py called Im­ly­g­ic (T-Vec), which it bagged in a bil­lion-dol­lar deal to ac­quire BioVex, you could see a wave of biotech com­peti­tors form­ing — look­ing to do the same ther­a­peu­tic job bet­ter.

To­day, Cana­da’s Turn­stone Bi­o­log­ics takes an­oth­er big step in that march, bag­ging a $41.4 mil­lion Se­ries B that will go a long way to demon­strat­ing whether it has a re­al con­tender for that mar­ket, while fu­el­ing ad­di­tion­al work in build­ing the pipeline.

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