Orbimed Advisors Llc - Jul 20, 2023 Form 3 Insider Report for Turnstone Biologics Corp. (TSBX)

Role: Director, 10%+ Owner
Signature: OrbiMed Advisors LLC, By /s/ Douglas Coon, Chief Compliance Officer
Stock symbol: TSBX
Transactions as of: Jul 20, 2023
Transactions value $: $0
Form type: 3
Date filed: 7/20/2023, 09:45 PM
Previous filing: Jul 19, 2023
Next filing: Jul 27, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	TSBX	Series B-1 Preferred Stock							Jul 20, 2023	Common Stock	937K		See footnotes	F1, F2, F3
holding	TSBX	Series B-2 Preferred Stock							Jul 20, 2023	Common Stock	1.25M		See footnotes	F1, F2, F3
holding	TSBX	Series C Preferred Stock							Jul 20, 2023	Common Stock	266K		See footnotes	F1, F2, F3
holding	TSBX	Series D Preferred Stock							Jul 20, 2023	Common Stock	229K		See footnotes	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of Series B-1 Preferred Stock, Series, Series B-2 Preferred Stock, Series C Preferred Stock and Series D Preferred Stock will automatically convert into shares of Common Stock on a 7.9872 for 1 basis immediately prior to the closing of the Issuer's initial public offering and have no expiration date.
F2	These securities are held of record by OrbiMed Private Investments VI, LP ("OPI VI"). OrbiMed Capital GP VI LLC ("GP VI") is the general partner of OPI VI and OrbiMed Advisors LLC ("OrbiMed Advisors") is the managing member of GP VI. By virtue of such relationships, OrbiMed Advisors and GP VI may be deemed to have voting power and investment power over the securities held by OPI VI and, as a result, may be deemed to have beneficial ownership over such securities. OrbiMed Advisors exercises voting and investment power through a management committee comprised of Carl L. Gordon, Sven H. Borho, and W. Carter Neild, each of whom disclaims beneficial ownership of the securities held by OPI VI.
F3	Each of OrbiMed Advisors and GP VI disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), except to the extent of its pecuniary interest therein, if any. OrbiMed Advisors and GP VI have designated a representative, Rishi Gupta, an employee of OrbiMed Advisors, to serve on the Issuer's board of directors. This report shall not be deemed an admission that any such person or entity is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.