Turnstone Biologics Restructures to Focus Portfolio and Extend Finances

Turnstone Biologics Corp. announced a strategic shift in its operations on October 11, 2024, aimed at streamlining resources and prioritizing the clinical advancement of its selected tumor-infiltrating lymphocyte (Selected TIL) therapy. This decision includes a significant workforce reduction of approximately 60% and changes to the leadership team. The company’s main focus will now be on the ongoing Phase 1 program, TIDAL-01, which is a promising treatment for solid tumors.

Turnstone's restructuring is expected to result in substantial cost savings, which will extend its cash runway into the second quarter of 2026. This move is aligned with the company's goal to maximize shareholder value and ensure sustained growth. Turnstone's President and CEO, Sammy Farah, emphasized that the focus on TIDAL-01 follows a thorough assessment of the company's business operations. By prioritizing this program, the company aims to optimize its resources and cost structure, building on the encouraging initial data from the Phase 1 trials. These trials have demonstrated the potential of the Selected TILs to target high unmet need solid tumors effectively.

Dr. Farah expressed his appreciation for the contributions of the employees affected by the workforce reduction, acknowledging their dedication to the company's mission to treat patients with solid tumors.

The decision to prioritize TIDAL-01 over other preclinical pipeline assets marks a significant shift in Turnstone's strategy. The Selected TIL process involves isolating and expanding the most potent tumor-reactive TILs from a patient's tumor cells before reintroducing them to target and kill cancer cells more effectively. The recent STARLING trial provided initial positive data supporting the biological rationale for this approach, showcasing a complete response in a patient with microsatellite stable colorectal cancer (MSS-CRC) who had previously undergone extensive treatment. This patient has shown progression-free survival extending beyond one year.

TIDAL-01 is being evaluated in multiple Phase 1 trials involving patients with colorectal cancer, head and neck cancer, and uveal melanoma. Turnstone plans to provide a clinical update in the first half of 2025.

In terms of leadership changes, there have been several key promotions and transitions. Ines Verdon, M.D., has taken over as Senior Vice President of Clinical Development, leading all clinical activities. Michael Burgess, MBChB, Ph.D., is retiring as Interim Chief Medical Officer but will remain on the Board of Directors. Michael Fitch, Ph.D., has been promoted to Senior Vice President of Manufacturing, bringing nearly two decades of experience in biotechnology and pharmaceutical industries. Vijay Chiruvolu, Ph.D., will transition to a strategic advisory role after completing his term as Interim Chief Technology Officer. Wendy Worcester, CPA, assumes the role of Principal Financial and Accounting Officer, and Saryah Azmat has been promoted to Chief Operating Officer.

Turnstone Biologics focuses on developing innovative therapies for patients with solid tumors through its next-generation TIL therapy. This approach aims to overcome the limitations of first-generation TILs, which have shown limited effectiveness in certain tumor types. TIDAL-01, the company’s lead clinical program, is currently being tested in various Phase 1 trials for its potential in treating colorectal cancer, head and neck cancer, and uveal melanoma.