Turnstone Biologics Corp. Enters into Agreement to Be Acquired by XOMA Royalty Corporation

XOMA Royalty Corporation (“XOMA Royalty”) (Nasdaq: XOMA) and Turnstone Biologics Corp. (“Turnstone” or the “Company”) (Nasdaq-CM: TSBX) announce that they have entered into a definitive merger agreement (“the Merger Agreement”), whereby XOMA Royalty will acquire Turnstone for $0.34 in cash per share of Turnstone common stock (“Turnstone common stock”) plus one non-transferable contingent value right (“CVR”). Turnstone Biologics is a biotechnology company historically focused on the development of a differentiated approach to treat and cure patients with solid tumors by pioneering selected tumor-infiltrating lymphocyte (“Selected TIL”) therapy.

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Source: https://www.globenewswire.com/news-release/2025/06/27/3106487/7281/en/Turnstone-Biologics-Corp-Enters-into-Agreement-to-be-Acquired-by-XOMA-Royalty-Corporation-for-0-34-in-Cash-Per-Share-Plus-a-Contingent-Value-Right.html