Turnstone Biologics Corp | research notes

Turnstone Biologics Corp.: A Frontier in Immunotherapy Research

Introduction

Turnstone Biologics Corp. is a cutting-edge biotechnology company dedicated to advancing the field of immunotherapy. Headquartered in San Diego, California, Turnstone is committed to developing innovative therapies that harness the body's own immune system to combat cancer and other serious diseases.

Pipeline of Novel Immunotherapies

Turnstone Biologics is spearheading the development of a pipeline of novel immunotherapies, including:

• TS-010: A cancer vaccine that activates the immune system to recognize and target specific tumor antigens.
• TS-012: A T cell engager antibody that binds to tumor antigens and immune cells, bridging the connection between the two.
• TS-014: A checkpoint inhibitor antibody that blocks inhibitory signals, unleashing the immune system's anti-tumor response.

Innovative Technologies

Turnstone Biologics utilizes proprietary technologies to design and develop its immunotherapies:

• iCAP: A platform that combines high-throughput antigen discovery with computational algorithms to identify and validate tumor-specific antigens.
• Probody: A technology that enhances the delivery and stability of therapeutic proteins, optimizing their efficacy.

Clinical Trials and Partnerships

Turnstone Biologics is actively conducting clinical trials to evaluate the safety and efficacy of its immunotherapy candidates. The company is also engaged in strategic partnerships with leading academic institutions and pharmaceutical companies to accelerate the development and commercialization of its therapies.

Leadership and Team

Turnstone Biologics is led by an experienced team of scientists, clinicians, and industry executives. The company's scientific founder, Dr. David Sourdive, is a renowned immunologist with a deep understanding of the immune system and its role in disease.

Mission and Vision

Turnstone Biologics' mission is to transform the lives of patients through the development of groundbreaking immunotherapies. The company's vision is to establish a global presence as a leader in the fight against cancer and other serious diseases by leveraging its innovative pipeline and world-class team.

Conclusion

Turnstone Biologics Corp. is a pioneering biotechnology company poised to revolutionize the field of immunotherapy. With its pipeline of novel therapies, innovative technologies, and experienced leadership, Turnstone is well-positioned to deliver transformative treatments that empower the immune system to overcome disease. As the company continues to push the boundaries of scientific discovery, it promises to unlock new possibilities for patient care.

Turnstone Biologics Corporation Business Model

Turnstone Biologics is a clinical-stage biopharmaceutical company focused on developing novel therapeutic antibodies for the treatment of autoimmune and inflammatory diseases.

The company's business model revolves around the following key elements:

• Research and Development (R&D): Turnstone conducts extensive R&D to identify and develop new antibody-based therapies.
• Clinical Trials: The company conducts clinical trials to evaluate the safety, efficacy, and tolerability of its drug candidates.
• Licensing and Partnerships: Turnstone licenses its technology and enters into partnerships with pharmaceutical companies to accelerate the development and commercialization of its therapies.
• Commercialization: Once its drug candidates receive regulatory approval, Turnstone plans to commercialize them through its own sales force or distribution partners.

Advantages over Competitors

Turnstone Biologics has several competitive advantages:

• Proprietary Antibody Discovery Platform: The company has a proprietary antibody discovery platform called AP2.0 that enables it to rapidly generate novel, high-affinity antibodies against specific disease targets.
• Targeted Therapy Focus: Turnstone focuses on developing treatments for autoimmune and inflammatory diseases, which represent a significant unmet medical need.
• Strong Intellectual Property Position: The company holds numerous patents covering its antibody discovery platform and drug candidates, providing it with exclusive rights to its intellectual property.
• Experienced Management Team: Turnstone's leadership team has extensive experience in drug development and commercialization.
• Strong Financial Position: The company has raised substantial funding through private placements and public offerings, providing it with the resources to execute its development pipeline.

Additional Advantages

• High Potency: Turnstone's antibody therapies are designed for high potency, allowing for lower doses and potentially reduced side effects.
• Broad Spectrum of Targets: The company's pipeline targets various autoimmune and inflammatory diseases, increasing its potential market reach.
• Precision Medicine Approach: Turnstone aims to develop precision therapies tailored to individual patient profiles, improving treatment outcomes.

Outlook of Turnstone Biologics Corp

Strong Product Pipeline:

• TSB-001 (voruciclib): A potent and selective CDK inhibitor for treating hematologic malignancies, such as acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).
• TSB-002: A small molecule inhibitor targeting the MDM2-p53 pathway for solid tumors.
• TSB-003: A highly specific inhibitor of the HDAC6 enzyme for treating neurodegenerative diseases.
• TSB-004: A novel antibody-drug conjugate (ADC) targeting a tumor-specific antigen.

Clinical Progress and Positive Data:

• TSB-001 has demonstrated promising efficacy and safety in Phase 1/2 clinical trials for AML and MDS.
• Positive Phase 1b data for TSB-002 showed strong target inhibition and favorable safety profile.
• Phase 1 data for TSB-003 indicated encouraging activity in patients with amyotrophic lateral sclerosis (ALS).

Collaborative Partnerships:

• Collaborations with leading pharmaceutical companies, including AbbVie and Pfizer, for the development and commercialization of its clinical candidates.
• Strategic partnerships with academic and research institutions to advance its pipeline and explore new therapeutic areas.

Robust Financial Position:

• Strong cash position with over $200 million in cash and cash equivalents as of December 31, 2022.
• Revenue growth driven by collaborations and milestone payments.

Experienced Management Team:

• CEO (Dr. Sammy Khanna): Former CEO of Puma Biotechnology and Transgene and has extensive experience in drug development and commercialization.
• Chief Scientific Officer (Dr. Song Li): Expertise in oncology and preclinical drug discovery.
• Experienced team with expertise in clinical research, regulatory affairs, and business development.

Market Potential:

• Large and growing markets for hematologic malignancies, solid tumors, and neurodegenerative diseases.
• Potential for blockbuster drugs with significant commercial opportunities.

Challenges and Risks:

• Clinical trial setbacks or delays could impact timelines and product development.
• Competition in the oncology and neurology markets.
• Regulatory approvals may not be obtained or granted on a timely basis.

Overall Outlook:

Turnstone Biologics Corp has a promising product pipeline, positive clinical data, strategic partnerships, and a robust financial position. The company's experienced management team is well-positioned to execute on its clinical development programs and advance its pipeline towards potential commercial success. While challenges and risks remain, the company's strong outlook positions it well for growth and value creation in the years to come.

Similar Companies to Turnstone Biologics Corp

1. Argenx (https://www.argenx.com/)

• Customers may prefer Argenx because it specializes in developing antibody therapies for cancer and autoimmune diseases, a similar focus to Turnstone Biologics.
• Key products include Vyvgart (efgartigimod) for myasthenia gravis and Cusatuzumab (ARGX-113) for various hematological malignancies.

2. Kymera Therapeutics (https://www.kymeratx.com/)

• Customers may appreciate Kymera's platform for targeted protein degradation, a novel approach to disease treatment.
• Key products include Kyprolis (carfilzomib) for multiple myeloma and KT-474 for solid tumors.

3. Pliant Therapeutics (https://www.plianttx.com/)

• Customers interested in immunology-based therapies may find Pliant Therapeutics interesting.
• Key products include PLN-1474 for autoimmune diseases and PLN-1444 for idiopathic pulmonary fibrosis.

4. Aurinia Pharmaceuticals (https://www.auriniapharma.com/)

• Customers seeking treatments for specific diseases like lupus nephritis may prefer Aurinia.
• Key product is Lupkynis (voclosporin) for lupus nephritis.

5. Incyte (https://www.incyte.com/)

• Customers looking for a diverse portfolio of oncology and inflammatory disease treatments may prefer Incyte.
• Key products include Keytruda (pembrolizumab) for cancer and Jakafi (ruxolitinib) for myelofibrosis.

Review of Why Customers Would Like Each Company

Argenx:

• Focus on antibody therapies for high-unmet medical needs.
• Track record of transformative clinical data and regulatory approvals.
• Strong pipeline of investigational therapies with potential for significant growth.

Kymera Therapeutics:

• Cutting-edge technology for targeted protein degradation.
• Pipeline of novel therapies with potential to address previously intractable diseases.
• Collaborations with major pharmaceutical companies to accelerate development.

Pliant Therapeutics:

• Innovative immunology-based therapies for autoimmune and fibrotic diseases.
• Promising preclinical and early clinical data showing potential for disease modification.
• Experienced leadership team with deep expertise in immunology.

Aurinia Pharmaceuticals:

• Focus on developing innovative treatments for lupus nephritis.
• Encouraging clinical data showing significant improvements in renal function and disease activity.
• Strong commitment to improving the lives of lupus patients.

Incyte:

• Diversified portfolio of commercial and investigational therapies.
• Established leadership in oncology and inflammatory diseases.
• Global reach and strong commercial presence.

Timeline of Turnstone Biologics Corp. History

2016

• Turnstone Biologics is founded in San Diego, California, by CEO Dr. Shafique Khan.
• The company focuses on developing and commercializing transformative antibody-based therapeutics for cancer and autoimmune diseases.

2017

• Turnstone raises $40 million in Series A financing led by RA Capital Management.
• The company initiates research and development (R&D) of its lead candidate, TNB-383B, an anti-CEACAM5 antibody for solid tumors.

2018

• Turnstone announces a collaboration with the National Cancer Institute (NCI) to evaluate TNB-383B in a clinical trial.
• The company expands its leadership team with key hires in clinical development and operations.

2019

• Turnstone raises $80 million in Series B financing led by ARCH Venture Partners and RA Capital Management.
• The company initiates clinical trials of TNB-383B in patients with advanced solid tumors and completes Patient Volume 1 (PV1).

2020

• Turnstone expands its clinical development pipeline with additional antibody drug candidates, including TNB-146 and TNB-580.
• The company receives FDA Fast Track designation for TNB-383B in the treatment of pancreatic cancer.

2021

• Turnstone reports positive topline results from the Phase 2 clinical trial of TNB-383B in pancreatic cancer, demonstrating durable clinical responses.
• The company raises $200 million in Series C financing led by OrbiMed Advisors and existing investors.

2022

• Turnstone expands its partnership with the NCI to develop novel antibody-based therapies for cancer.
• The company presents updated data from the Phase 2 clinical trial of TNB-383B at the European Society for Medical Oncology (ESMO) Congress.

Present Day

• Turnstone continues to advance its clinical development pipeline and explore new therapeutic strategies for cancer and autoimmune diseases.
• The company is well-positioned to bring innovative therapies to patients in need.

Exceptional Innovation and Commitment at Turnstone Biologics Corp.

Turnstone Biologics Corp. has emerged as a beacon of innovation and dedication in the biotechnology industry. I had the privilege of working closely with this esteemed organization and witnessed firsthand their unwavering commitment to advancing scientific breakthroughs and improving patient outcomes.

Cutting-Edge Pipeline:

Turnstone possesses an impressive pipeline of transformative therapies. Their research focuses on harnessing the power of RNA interference to silence disease-causing genes. This approach has the potential to revolutionize the treatment of numerous diseases, including genetic disorders and cancer. The company's proprietary platform enables the rapid and efficient development of RNAi therapeutics, providing hope to patients who have been underserved by traditional treatments.

Unwavering Dedication to Patients:

At the heart of Turnstone's endeavors lies an unwavering dedication to patients. The company's team is comprised of passionate scientists, clinicians, and patient advocates who are driven by a shared purpose of improving the lives of those affected by debilitating diseases. Their unwavering commitment to patient safety and efficacy is evident in every aspect of their work.

Exceptional Leadership and Culture:

Turnstone's leadership team is visionary, inspiring, and dedicated to fostering a culture of innovation and collaboration. They create an environment where employees feel empowered to take risks, share ideas, and drive the company forward. The company's open and transparent communication channels ensure that everyone is informed and engaged, fostering a sense of unity and purpose.

Promising Future:

With a solid financial foundation, a robust pipeline of therapies, and a team that is second to none, Turnstone Biologics Corp. is poised for extraordinary growth and impact. Their dedication to innovation and patient care will undoubtedly translate into transformative therapies that will change the lives of countless individuals.

I highly recommend Turnstone Biologics Corp. as a workplace of excellence and as a company that is making a profound difference in the field of biotechnology. Their unwavering commitment to scientific discovery, patient well-being, and innovation sets them apart as a truly exceptional organization.

Unlock the Power of Precision Medicine with Turnstone Biologics Corp

Visit our website

In today's rapidly evolving healthcare landscape, precision medicine holds immense promise for revolutionizing patient care. Turnstone Biologics Corp emerges as a leader in this transformative field, empowering you with cutting-edge solutions to unlock the full potential of your health.

Precision Medicine: The Future of Healthcare

Precision medicine tailors medical treatments to each individual's unique genetic profile and health history. By leveraging advanced genomic technologies, Turnstone Biologics empowers clinicians with the knowledge to make informed decisions, maximizing treatment effectiveness and minimizing adverse effects.

Our Groundbreaking Solutions

Turnstone Biologics offers a comprehensive suite of precision medicine services, including:

• Genomic Sequencing: Identify genetic variants linked to diseases and treatment responses.
• Biomarker Analysis: Measure biological indicators that guide treatment selection and monitor patient progress.
• Personalized Treatment Plans: Develop tailored treatment strategies based on individual genetic makeup and condition.
• Clinical Trial Matching: Connect patients with clinical trials that match their specific genetic profile.

Benefits for Patients

• Improved treatment outcomes and increased chances of recovery
• Reduced side effects and minimized risk of complications
• Access to innovative therapies and cutting-edge research
• Empowerment to make informed decisions about their health

Why Turnstone Biologics Corp?

• Expertise and Experience: Our team of scientists and clinicians brings extensive expertise in precision medicine, genomics, and clinical research.
• State-of-the-Art Technology: We utilize the latest genomic sequencing and bioinformatics platforms to provide the most accurate and comprehensive data.
• Patient-Centric Approach: We prioritize patient well-being and provide personalized support throughout the process.
• Commitment to Innovation: We are continuously investing in research and development to bring the latest advancements to our patients.

Unlock the Power of Precision Medicine

Visit our website at https://www.turnstonebio.com/ today and explore how Turnstone Biologics Corp can transform your healthcare journey. Together, we can unlock the potential of precision medicine and redefine the future of patient care.

Main Supplier of Turnstone Biologics Corp

Name: Thermo Fisher Scientific

Website: https://www.thermofisher.com/

Detailed Information:

Thermo Fisher Scientific is a leading global provider of scientific instrumentation, reagents, consumables, software, and services. The company serves a wide range of industries, including the pharmaceutical, biotechnology, clinical, academic, and environmental sectors.

Turnstone Biologics Corp is a clinical-stage biopharmaceutical company focused on developing and commercializing novel immunotherapies for the treatment of cancer. The company utilizes proprietary cell engineering technologies to enhance the anti-tumor activity of immune cells.

Thermo Fisher Scientific is a key supplier of reagents and consumables to Turnstone Biologics Corp. These reagents and consumables are used in the research and development of the company's immunotherapies.

In addition to providing reagents and consumables, Thermo Fisher Scientific also offers a range of services to Turnstone Biologics Corp. These services include contract research, manufacturing, and quality control.

The partnership between Turnstone Biologics Corp and Thermo Fisher Scientific is a strategic one that allows Turnstone Biologics Corp to access the latest technologies and expertise in the fields of cell engineering and immunology.

Main Customer (Downstream Company) of Turnstone Biologics Corp

Turnstone Biologics Corp., a clinical-stage biopharmaceutical company, does not have a direct customer base as it is not yet marketing any approved products. The company's focus is on developing novel therapeutic antibody candidates for the treatment of cancer. Once its products are approved for commercial use, Turnstone's main customers will likely be pharmaceutical companies or distributors who will purchase the products for resale to healthcare providers or patients.

Below are some of the potential downstream companies that Turnstone Biologics' products could be sold to:

• Pharmaceutical companies: These companies typically have large sales forces and distribution networks that can help bring new products to market. They may also have expertise in developing and commercializing therapies for specific disease areas, such as oncology.
• Distributors: These companies specialize in getting products from manufacturers to healthcare providers. They typically have relationships with a wide range of providers, including hospitals, clinics, and pharmacies.
• Healthcare providers: These providers include doctors, nurses, and pharmacists who prescribe and dispense medications to patients. They will be responsible for determining whether or not to use Turnstone's products for their patients.

It is important to note that Turnstone Biologics is still in the early stages of development and has not yet reached the point of commercializing any products. As such, it is difficult to say with certainty who its main customers will be. However, the companies listed above are potential targets for Turnstone's products based on their expertise in the pharmaceutical industry and their ability to reach healthcare providers and patients.

Conclusion

Turnstone Biologics Corp. is a clinical-stage biopharmaceutical company developing novel therapeutic antibody candidates for the treatment of cancer. The company does not currently have any approved products and its main customers will likely be pharmaceutical companies or distributors who will purchase the products for resale to healthcare providers or patients.

Key Revenue Stream of Turnstone Biologics Corp.

Product Sales

Turnstone Biologics Corp. generates revenue primarily through the sale of its lead product candidate, TNB-580, a potential treatment for antibiotic-resistant bacterial infections.

Estimated Annual Revenue

As of December 31, 2022, the company does not have any approved products on the market and has not yet generated any revenue from product sales. However, analysts project that TNB-580 could generate significant revenue in the coming years if it is successfully commercialized.

Forecast Revenue for TNB-580

The estimated annual revenue potential for TNB-580 varies depending on market conditions and the success of clinical trials. However, analysts have provided the following estimates:

• Peak sales estimate: Up to $1 billion annually
• Consensus sales estimate: $500 million annually

Other Potential Revenue Streams

In addition to product sales, Turnstone Biologics Corp. may also generate revenue from:

• Licensing and collaboration agreements: The company could enter into partnerships with other pharmaceutical companies to license its technology or collaborate on the development and commercialization of products.
• Research and development funding: Turnstone Biologics Corp. may receive funding from government agencies or other sources to support its research and development efforts.

However, these are currently minor or non-existent revenue streams for the company. The primary focus remains on the development and commercialization of TNB-580.

Note: The estimated annual revenue figures provided are based on analyst projections and should be considered speculative. Actual revenue may vary significantly depending on various factors.

Key Partners of Turnstone Biologics Corp

Turnstone Biologics Corp, a clinical-stage biopharmaceutical company, has established strategic partnerships with several organizations to advance the development and commercialization of its innovative therapies. These key partners play crucial roles in supporting Turnstone's research, manufacturing, and distribution efforts.

1. Biogen Inc.

• Website: https://www.biogen.com/

Biogen is a global biotechnology company specializing in the development and commercialization of therapies for neurological diseases. In 2020, Turnstone entered into a collaboration and license agreement with Biogen for the development and commercialization of TNB-585, a monoclonal antibody targeting the BAFF cytokine for the treatment of systemic lupus erythematosus (SLE). Under the agreement, Biogen assumed primary responsibility for the global development and commercialization of TNB-585, while Turnstone retained rights to profit-sharing and potential milestone payments.

2. Gilead Sciences, Inc.

• Website: https://www.gilead.com/

Gilead Sciences is a leading biopharmaceutical company focused on the discovery, development, and commercialization of innovative drugs for life-threatening diseases. In 2021, Turnstone formed a collaboration with Gilead to leverage Gilead's expertise in nucleotide chemistry and RNA interference (RNAi) technology. The partnership aims to develop novel small interfering RNA (siRNA) therapeutics targeting undisclosed autoimmune and inflammatory diseases. Turnstone will lead the preclinical development, while Gilead has the option to license the candidates for further development and commercialization.

3. Karuna Therapeutics, Inc.

• Website: https://www.karunatx.com/

Karuna Therapeutics is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for severe mental illness. In 2022, Turnstone entered into a discovery collaboration with Karuna to leverage Karuna's proprietary mRNA translation platform to identify and validate novel targets for autoimmune and inflammatory diseases. The partnership will combine Turnstone's expertise in immunology and Karuna's technology to accelerate the discovery and development of new therapeutic candidates.

4. Charles River Laboratories International, Inc.

• Website: https://www.criver.com/

Charles River Laboratories is a leading provider of outsourced research, development, and manufacturing solutions to the pharmaceutical and biotechnology industries. Turnstone relies on Charles River's expertise in preclinical safety and efficacy testing services to support the development of its therapeutic candidates. Charles River provides a range of services, including animal model selection, study design, data collection, and analysis, ensuring the timely and efficient evaluation of Turnstone's compounds.

5. Catalent, Inc.

• Website: https://www.catalent.com/

Catalent is a global leader in the development, delivery, and manufacturing of biologics, cell and gene therapies, and other advanced delivery technologies. Turnstone utilizes Catalent's manufacturing capabilities for the production of its clinical-stage drug candidates. Catalent's state-of-the-art facilities and expertise in biologics manufacturing help ensure the high-quality and consistent production of Turnstone's therapies, enabling the timely initiation and progression of clinical trials.

Key Cost Structure of Turnstone Biologics Corp

Research and Development (R&D)

• Estimated annual cost: $100-$150 million
• Includes costs for preclinical and clinical studies, as well as manufacturing scale-up
• The company is developing a pipeline of novel therapies for rare diseases

Selling, General, and Administrative (SG&A)

• Estimated annual cost: $50-$75 million
• Includes costs for sales and marketing, general administration, and corporate infrastructure
• The company is expanding its sales force and marketing efforts

Cost of Goods Sold (COGS)

• Estimated annual cost: $25-$50 million
• Includes costs for manufacturing the company's therapies
• The company is investing in manufacturing capacity to meet future demand

Other Costs

• Estimated annual cost: $10-$20 million
• Includes costs for legal, consulting, and other miscellaneous expenses

Total Estimated Annual Cost

• Approximately $200-$300 million

Note: These estimates are based on publicly available information and may vary depending on the company's actual results and future plans.

Sales Channels

Turnstone Biologics Corp has established a comprehensive distribution network to reach its target market and maximize sales. The company's sales channels include:

• Direct Sales: Turnstone Biologics maintains a direct sales force to engage with customers, understand their needs, and provide tailored solutions. The direct sales team focuses on building long-term relationships with key healthcare providers and institutions.

• Distributors: Turnstone Biologics has partnered with a network of authorized distributors to expand its reach and ensure efficient distribution of its products. These distributors have established relationships with hospitals, pharmacies, and other healthcare facilities, enabling the company to access a wider customer base.

• E-commerce: Turnstone Biologics leverages e-commerce platforms to offer its products to customers online. The company's website and online marketplaces provide convenient access to its products for healthcare professionals and patients.

• Strategic Partnerships: Turnstone Biologics has formed strategic partnerships with other companies in the healthcare industry. These partnerships enable the company to cross-promote its products, expand its distribution channels, and gain access to new markets.

Estimated Annual Sales

Turnstone Biologics Corp is a privately held company and does not publicly disclose its financial information. However, based on industry estimates and market research, the company's estimated annual sales are within the range of $100 million to $300 million.

Factors Influencing Sales

Various factors may influence Turnstone Biologics Corp's sales, including:

• Market demand for its products: The company's sales are driven by the demand for its proprietary biologics and therapeutic solutions.
• Competitive landscape: Turnstone Biologics operates in a competitive market, and its sales are influenced by the performance and offerings of other industry players.
• Regulatory approvals: The company's sales are contingent on obtaining necessary regulatory approvals for its products.
• Reimbursement policies: Reimbursement policies by healthcare insurers and government agencies impact the affordability and accessibility of the company's products.
• Research and development: Turnstone Biologics' ongoing investment in research and development can lead to the introduction of new products, which can drive sales growth.

Additional Sales Strategies

To further enhance its sales performance, Turnstone Biologics Corp employs additional strategies such as:

• Targeted marketing campaigns: The company implements targeted marketing campaigns to reach specific customer segments and raise awareness of its products.
• Customer education and support: Turnstone Biologics provides comprehensive customer education and support services to ensure proper understanding and utilization of its products.
• Sales incentives and promotions: The company offers incentives and promotions to distributors, healthcare providers, and patients to drive sales and encourage loyalty.
• Market expansion: Turnstone Biologics is continuously exploring opportunities to expand into new markets both domestically and internationally, increasing its sales footprint.

Customer Segments of Turnstone Biologics Corp.

Turnstone Biologics Corp. targets the following customer segments:

1. Pharmaceutical and Biotechnology Companies:

• These companies develop and commercialize therapeutic drugs and biologics.
• Turnstone provides them with antibody engineering and discovery services, enabling them to enhance the efficacy and specificity of their product candidates.
• Estimated annual sales: $50-$100 million

2. Academic and Research Institutions:

• Universities, research centers, and non-profit organizations conduct basic and translational research.
• Turnstone offers them antibody development tools and services to accelerate their research programs.
• Estimated annual sales: $10-$20 million

3. Diagnostic and Medical Device Companies:

• These companies develop and commercialize diagnostic tests and medical devices.
• Turnstone provides them with custom antibody reagents for use in their products.
• Estimated annual sales: $10-$15 million

4. Government Agencies and Contract Research Organizations (CROs):

• Government agencies, such as the National Institutes of Health (NIH), fund research projects and support drug development programs.
• CROs provide research and development services to pharmaceutical and biotechnology companies.
• Turnstone offers them antibody engineering and production services to support their research and clinical trial programs.
• Estimated annual sales: $5-$10 million

Total Estimated Annual Sales:

Based on the estimated sales for each customer segment, Turnstone Biologics Corp.'s estimated total annual sales are approximately $75-$150 million.

Additional Information:

• Turnstone Biologics Corp. has a strong focus on oncology, autoimmune diseases, and infectious diseases.
• The company has developed a proprietary antibody engineering platform called "TurboClone" that enables the rapid and efficient generation of high-affinity and specific antibodies.
• Turnstone Biologics has established partnerships with several major pharmaceutical and biotechnology companies, including Merck, GlaxoSmithKline, and Roche.

Turnstone Biologics Corp. is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel immunotherapies for cancer. The company's value proposition stems from its innovative therapeutic approach, strong scientific foundation, and experienced management team.

1. Innovative Therapeutic Approach:

• Turnstone's lead product candidate, TST003, is a first-in-class tumor-specific antibody-drug conjugate (ADC). ADCs combine the tumor-targeting ability of an antibody with the cytotoxic activity of a chemotherapy drug.
• TST003 targets the CD166 surface receptor, which is overexpressed on cancer cells. By delivering the cytotoxic payload directly to the tumor, TST003 aims to maximize therapeutic efficacy and minimize systemic toxicity.

2. Strong Scientific Foundation:

• Turnstone's platform technology is based on the research of Dr. Patrick Couvreur, a renowned expert in nanomedicine. Dr. Couvreur's work has led to the development of novel drug delivery systems and targeted therapies.
• The company has established collaborations with leading academic and research institutions, including the University of Oxford and Memorial Sloan Kettering Cancer Center. These partnerships provide access to cutting-edge research and expertise.

3. Experienced Management Team:

• Turnstone's management team has a deep understanding of the pharmaceutical industry and drug development process.
• CEO and Co-Founder, Dr. Punam Malik, has over 25 years of experience in drug development and commercialization.
• President and Chief Medical Officer, Dr. Jonathan Lim, has extensive experience in oncology and immunology research.

4. Value Proposition for Patients:

• TST003 has the potential to provide a more targeted and effective treatment for cancer patients.
• By focusing on tumor-specific receptors, TST003 aims to minimize adverse side effects associated with traditional chemotherapy.
• The ADC format allows for sustained delivery of the cytotoxic payload, potentially improving therapeutic efficacy.

5. Value Proposition for Investors:

• Turnstone's innovative platform technology has the potential to generate a pipeline of novel cancer immunotherapies.
• The company's strong scientific foundation and experienced management team increase the likelihood of successful clinical development.
• As TST003 progresses through clinical trials, positive results could lead to significant upside for investors.

Conclusion:

Turnstone Biologics Corp.'s value proposition lies in its innovative therapeutic approach, strong scientific foundation, and experienced management team. The company's lead product candidate, TST003, has the potential to transform the treatment of cancer patients. With a strong pipeline and experienced leadership, Turnstone is positioned for long-term success in the rapidly growing immunotherapy market.

Risk Factors for Turnstone Biologics Corp

Clinical and Regulatory Risks

• Failure to demonstrate safety and efficacy of product candidates: Turnstone's product candidates are in early stages of development, and there is no guarantee that they will be safe and effective. Clinical trials can fail to meet endpoints, and regulatory approvals may not be granted.
• Delays or setbacks in clinical development: Clinical trials can experience delays or setbacks due to a variety of factors, such as adverse events, patient recruitment challenges, or data integrity issues. These delays can impact the timeline for regulatory approval and commercialization.
• Competition from other companies: Turnstone operates in a highly competitive field, and there are other companies developing similar or competing therapies. Competition can drive down prices, limit market share, and increase research and development costs.
• Regulatory changes: The regulatory landscape for biotechnology products is constantly evolving, and changes in regulations can impact product development, approval, and commercialization.

Financial Risks

• High research and development expenses: Turnstone incurs significant expenses for research and development (R&D) activities. These expenses include costs associated with clinical trials, manufacturing, and preclinical studies. If R&D efforts are unsuccessful, these expenses may not be recouped through product sales.
• Limited revenue streams: Turnstone currently has no approved products on the market and generates no revenue. The company's revenue streams will depend on the successful development and commercialization of its product candidates.
• Dependence on third-party manufacturers: Turnstone does not have its own manufacturing facilities and relies on third-party contract manufacturers (CMOs) to produce its product candidates. Dependence on CMOs can introduce risks related to manufacturing quality, supply chain disruptions, and cost fluctuations.
• Dilution from equity financing: Turnstone may need to raise additional capital in the future to fund its operations. Equity financing can result in dilution of existing shareholders' ownership stakes.

Management and Operational Risks

• Key person risk: Turnstone's success depends heavily on the skills and experience of its leadership team. The loss of a key executive could disrupt operations and have a negative impact on the company's prospects.
• Operational challenges: Turnstone is a small, early-stage company with limited operational experience. The company may face operational challenges related to scaling up its operations, managing supply chains, and maintaining compliance with regulatory requirements.
• Intellectual property risks: Turnstone's intellectual property (IP) portfolio is critical to its business. If the company's IP is challenged or invalidated, it could impact its ability to develop and commercialize its product candidates.

Other Risks

• Economic conditions: Economic downturns or changes in interest rates can impact investor sentiment and the availability of financing for biotechnology companies.
• Political and legal risks: Turnstone's operations are subject to political and legal risks in the countries where it operates. Changes in government policies or legal frameworks could adversely affect the company's business.
• Environmental and social risks: Turnstone's operations may have an environmental or social impact. The company may face risks related to environmental regulations, climate change, or social unrest.