Take two: Ottawa’s Turnstone Biologics raises US$80-million in second try to develop cancer drugs [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Take two: Ottawa’s Turnstone Biologics raises US$80-million in second try to develop cancer drugs A drug developer founded by Canadian researchers has raised US$80-million from leading U.S. life sciences investors to fund its second attempt to develop innovative cancer-fighting drugs. Turnstone Biologics Inc. said the investment was co-led by PFM Health Sciences and Point72, key “crossover investors” that typically invest in private life sciences companies heading toward public offerings. Other backers include Eventide Asset Management, Citadel company Surveyor Capital, Ridgeback Capital Investments, Takeda Ventures, Versant Ventures, OrbiMed, F-Prime Capital, Canada’s Northleaf Capital Partners and Teralys Capital. Versant and OrbiMed have been two of the most active foreign investors in Canada’s ascendant biotechnology sector. Versant managing director Jerel Davis said Turnstone, which has raised US$170-million in venture capital to date and secured even more from partnership agreem
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