Turnstone Biologics Corp. Announces Pricing of Upsized Initial Public Offering

SAN DIEGO, July 20, 2023 (GLOBE NEWSWIRE) — Turnstone Biologics Corp. (“Turnstone” or the “Company”) (Nasdaq: TSBX), a clinical-stage biotechnology company developing new medicines to treat and cure solid tumors by pioneering a differentiated approach to tumor-infiltrating lymphocyte (TIL) therapy, today announced the pricing of its upsized initial public offering of 6,666,667 shares of common stock at a price to the public of $12.00 per share. All shares of common stock are being offered by Turnstone. The gross proceeds to Turnstone from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Turnstone, are expected to be $80.0 million. In addition, Turnstone has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on the Nasdaq Global Select Market on July 21, 2023 under the symbol “TSBX”. The offering is expected to close on July 25, 2023, subject to the satisfaction or waiver of customary closing conditions.

BofA Securities, Leerink Partners and Piper Sandler & Co. are acting as joint book-running managers for the offering.

Registration statements relating to the securities being offered and sold in this offering have been filed with the U.S. Securities and Exchange Commission (SEC) and became effective on July 20, 2023. Copies of the registration statements can be accessed through the SEC’s website at www.sec.gov. This offering is being made only by means of a prospectus forming part of the registration statements relating to these securities. When available, a copy of the final prospectus relating to this offering may be obtained from: BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 201 North Tryon, Charlotte, NC 28255, Mail Code NC1-022-02-25, dg.prospectus_requests@bofa.com; Leerink Partners, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; or Piper Sandler & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attn: Prospectus Department, by telephone at (800) 747-3924, or by e-mail at prospectus@psc.com.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Turnstone

Turnstone Biologics is a clinical-stage biotechnology company developing new medicines to treat and cure solid tumors by pioneering a differentiated approach to TIL therapy. Turnstone’s innovative TIL therapy is based upon the identification, selection, and expansion of the most potent tumor-reactive T cells, known as Selected TILs, and is designed to overcome the limitations of first-generation bulk TILs that have demonstrated objective responses only in limited tumor types. Turnstone’s most advanced program, TIDAL-01, is currently being evaluated in two Phase 1 studies in patients with melanoma, breast cancer, and colorectal cancer, and the Company is also actively advancing its preclinical pipeline programs including TIDAL-02, its next Selected TIL program, and its TIDAL-01 and viral immunotherapy combination program.

Contact:
Turnstone Biologics Corp.
Ahmed Aneizi
Investor Relations
ahmed.aneizi@turnstonebio.com
+1 (347) 897-5988

GlobeNewswire Distribution ID 8878457

Only 10% Indonesians are members of cooperatives: Ministry

Jakarta (ANTARA) – Secretary of the Coordinating Ministry for Economic AffairsSusiwijono Moegiarsohas said that currently, only 10 percent of Indonesian citizens are members of cooperatives.”About 73 percent of millennials have never been members of cooperatives, and only 6 percent have become members of cooperatives,” he noted, according to an official statement issued here on Thursday. Moegiarso made the remarks at the National Cooperative Summit 2023 held at Muhammadiyah 1 Yogyakarta High School, Yogyakarta, on Thursday. On that occasion, he appealed to the community to participate in efforts to advance Indonesian cooperatives. The government has made several efforts to do this, which have included encouraging the modernization of cooperatives, as stated in the 20202024 Medium-Term National Development Plan (RPJMN). Under the RPJMN, 500 modern cooperatives will be developed by 2024. The government is also aiming to rebrand cooperatives so that they are up-to-date, innovative, and adaptive through the passage of Law Number 6 of 2023, which replaces Government Regulation in Lieu of Law Number 2 of 2022 on Job Creation. In line with efforts to strengthen cooperatives’ institutional aspect, the government is also seeking to improve cooperative literacy. Based on Presidential Instruction Number 12 of 2016 on the National Mental Revolution Movement, there are five movements, and one of them is coordinating the Independent Indonesia Movement (GIMa). “Us, the rank of the Coordinating Ministry for Economic Affairs, together with the Coordinating Ministry for Human Development and Culture and other ministries/institutions, will continue to encourage through GIMa, through various efforts, including empowering the people’s economic system through cooperatives,” Moegiarso said. The National Cooperative Summit 2023 includes an expo of selected students’ cooperatives and a school cooperative coaching clinic managed by the Cooperatives and Small and Medium Enterprises Ministry, which are aimed at providing education and revitalizing the Proud of Joining Cooperative Movement through student cooperatives. He expressed the hope that the event would become an essential step in promoting cooperatives, especially among millennials, adolescents, and students.

Source: Antara News Agency

Children are most important assets that should be protected: VP

Jakarta (ANTARA) – Vice President Ma’ruf Amin affirmed that Indonesian children are the nation’s most valuable assets whose rights to grow and be free from violence and discrimination should be assured.”Child protection should be our collective concern, as children are the nation’s most valuable asset,” Amin stated by online means for the 2023 Indonesian Child Protection Commission (KPAI) Awards here on Thursday (July 20). lthough a law on child protection has been in force, he highlighted that complaints about child violence remain an urgent issue to address. The vice president expressed concern that most reported cases of child violence occurred in the children’s family and alternative foster care. “Hence, we should ensure family and alternative foster care will be a safe and comfortable environment for the child’s growth. The education sphere and school should also be a place to support children in their academics and social character development and talents’ studies,” Amin emphasized. He also highlighted a 2020 research conducted by the World Health Organisation (WHO) and the United Nations Children’s Fund (UNICEF) indicating that Indonesia was placed at the 117th rank in the Children Flourishing Index out of 180 countries, lagging behind Singapore, Malaysia, Vietnam, and Thailand. “This means that families, as a miniature of society, and the nation, in (terms of) child rearing, are not developing as we expect. We should catch up to (address) this lacking by bolstering the commitment to synergize and collaborate between all national elements to ensure the fulfilment of rights and protection of Indonesian children,” the vice president affirmed. min then called on the KPAI to optimize its role in child protection and address child-related issues, such as stunting, violence, sexual violence, and child marriage, including legal advocacy and victims’ recovery. The KPAI should also raise public awareness of children’s rights and optimize its digital channel to bolster public campaigns as well as encourage parents to play a greater role in their children’s growth, including preventing violence, sexual violence, and harassment. The vice president expressed hope that the 2023 KPAI Awards could be a medium to evaluate and assess the progress in child protection in Indonesia and encourage the nation to protect its children.

Source: Antara News Agency

South Korean Ambassador supports development of IKN Nusantara

Jakarta (ANTARA) – South Korean Ambassador to Indonesia Lee Sang-deok stated that South Korea supports the development of IKN Nusantara (Nusantara Capital City) in East Kalimantan.”South Korea supports the development of Nusantara Capital City. We hope that the construction would run successfully,” Lee noted in a statement in Jakarta, Friday. Lee expressed optimism that the development of Nusantara Capital City would run smoothly and successfully. Indonesia and South Korea already have a memorandum of understanding (MoU) on Technical Cooperation in the Relocation and Development of IKN that will become the basis for a bilateral mechanism as well as the basis for South Korean companies to actively contribute in working together to build IKN. Head of the Implementation Division for Regional Arrangement of the IKN Infrastructure Development Task Force of the Ministry of Public Works and Housing (PUPR) Didiet Arief Akhdiat stated that one of the developments to be conducted was the construction of a clean water supply system for IKN, with a capacity of 350 liters per second. “We have started to cooperate with South Korea in the clean water sector, wherein the financing is from the state budget but the design is from South Korea,” Akhdiat revealed. He expressed optimism that in future, technical assistance would be provided related to waste water and solid waste and it could also be related to roads. South Korean Ambassador to Indonesia, Lee Sang-deok, accompanied by Head of the Implementation Division for Regional Arrangement of the IKN Infrastructure Development Task Force of the Ministry of PUPR, Didiet Arief Akhdiat, visited the area of Nusantara Capital City. Lee was present along with seven delegates comprising the embassy team, K-Water delegates, and business delegates from South Korea. On this occasion, Akhdiat stated that the South Korean ambassador’s visit is a form of readiness to establish cooperation in the development at IKN. “(They) want to see how far the development of Nusantara Capital City has reached, so that later, when there is a further visit from the South Korean leaders, they will have a big picture of IKN and its (developmental) progress,” Akhdiat stated. The group had the opportunity to visit the Sepaku Semoi Dam and review the development progress that had reached 92.77 percent as well as see the IPA land funded by a grant from the South Korean government that is currently in the DED process and is expected to be completed in December 2023. The group then headed to Point Zero and the View Tower of West Axis National Street to witness the progress in construction of the Presidential Palace, Ceremony Field, and the Office of the Coordinating Ministries.

Source: Antara News Agency

E Java governor welcomes rail cooperation plan with Czech Republic

Surabaya, East Java (ANTARA) – East Java Governor Khofifah Indar Parawansa welcomed a plan for cooperation with the Czech Republic for rail transportation development in the province.”I see there were very substantive things that we discussed this afternoon. Hopefully, later it can be even more concrete after a team from the Czech Republic comes to Indonesia, which, inshallah (if God wills), will also visit East Java,” Parawansa told reporters here on Thursday, She made the statement after receiving a visit from the Czech Republic Ambassador to Indonesia, Jaroslav Dolecek, at Grahadi State Building in Surabaya, East Java, in the day. Dolecek said that he had earlier met with representatives of the East Java provincial government to explore opportunities for cooperation. He informed that for his current visit to East Java, he had brought concrete proposals, including one for cooperation in rail transportation development.

Source: Antara News Agency

Rain can speed up spread of anthrax spores: BRIN

Jakarta (ANTARA) – The National Research and Innovation Agency (BRIN) has stressed that rain can quicken the pace at which anthrax spreads by carrying spores to other areas and contaminating the environment.”(From) the location of animal slaughter, which have yet to be decontaminated, and then rain allows spores to flow to other places,” a researcher from BRIN’s Veterinary Research Center, Rahmat Setya Adji, said during a discussion here on Thursday. There was one incident involving massive anthrax spread in Gorontalo after some locals slaughtered an anthrax-infected animal in a paddy field, he informed. The animal’s blood flowed into the river, triggering anthrax infections in 11 sub-districts in the region, he said. “From one sub-district, it spread to 11 sub-districts because anthrax bacteria flowed into the river, and then the spores got attached to the grass by the river, and then were carried by farmers (with the grass) to be fed to the animals,” he recalled. nthrax is a bacterial disease caused by Bacillus anthracis, and it is found among domestic and wild animals, particularly herbivores, he explained.

Source: Antara News Agency

New corporate registrations hike in Thailand

New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry’s Business Development Department.

The department said on July 20 that in the first half of this year, the number of new business registrations increased by 17.3% to 47,286 year-on-year, a record in the past decade. Registered capital amounted to roughly 429 billion THB (over 12 billion USD), up 53%.

The top three sectors with the highest number of new registrations were general building construction, real estate, and the hotel/restaurant business.

In contrast, there were 7,097 business closures during the same period, up 18% annually and down 15% in registered capital, which amounted to 49.6 billion THB.

The top three industries with the highest number of business closures were also general building construction, real estate, and the hotel/restaurant business.

Given the positive growth trend, the department has adjusted its estimate, with the number of new corporate registrations in the second half projected at 36,000-43,000, raising the total number for the entire year to around 83,000-90,000, up from 76,488 registered in 2022./.

Source: Vietnam News Agency

Malaysia expands Internet service in remote areas

Malaysia has issued a license to Starlink, the satellite communications service started by Elon Musk, to provide internet services in the country, particularly in remote areas.

Malaysian Communications Minister Fahmi Fadzil said on July 20 that Starlink, which is operated by Musk’s SpaceX, would begin by providing its services to schools and higher education institutions.

The Malaysian government also prepared to work with satellite communications firms, including Starlink, to ensure 100% internet coverage in populated areas, Fahmi said, adding that around 3% of populated areas in Malaysia face issues with internet access, due to geographical and infrastructure challenges.

The announcement comes a week after PM Anwar Ibrahim held a phone call with Musk to discuss his companies investing in Malaysia.

The Malaysian government earlier this year announced that his electric vehicle (EV) maker Tesla would open an office in Malaysia. It also approved the company’s application to import battery-run EVs into the country, as part of a wider government effort to promote sustainable mobility./.

Source: Vietnam News Agency