Turnstone Biologics (“Turnstone”), a privately held clinical stage biotech company, is developing breakthrough cancer immunotherapies by advancing two leading and complementary platforms that drive innate and adaptive tumor immunity, to provide benefit to the millions of cancer patients underserved by current treatment options. Turnstone’s proprietary vaccinia virus platform is engineered to drive coordinated immune activation, potent viral activity, and local expression of encoded therapeutics. The innovative TIL cell therapy platform leverages clinically validated treatment protocols and has been specifically designed to extend beyond the use of bulk TILs to enrich for the most relevant T-cells for tumor eradication, preserving broad antigen diversity and minimizing time to treatment for patients. The Company has an ongoing Phase 1/2a trial in solid tumors (RAPTOR) for its leading oncolytic virus candidate, RIVAL-01, and is expecting to file an IND for the lead TIL therapy candidate, TIDAL-01, in 2021.
Overview of Position:
Reporting to the Chief Financial Officer, this role will be responsible for managing the global accounting and finance function of Turnstone Biologics Corp. The Controller will oversee general and technical accounting, budget and forecasting management, tax operations and planning, equity administration, and, in the event the company undertakes an initial public offering of its securities, SEC reporting and compliance. The position will be directly involved with some or all the following.
Accounting and Controls
· Develop accounting and reporting systems and policies to ensure compliance with generally accepted accounting principles. Oversee timely and efficient monthly and quarterly closing and reporting process. On transition to a public company, ensure accurate and timely SEC filings (10-K, 10-Q, 8-K)
· Lead the annual audit process, prepare all supporting information for the annual audit. Develop strong partnership with external auditors to ensure clean audit sign offs and efficient quarterly reviews
· Consult with appropriate resources to ensure that new accounting guidance are analyzed and understood from an accounting standpoint. Communicate impact of technical accounting matters to executive management as necessary.
· Own and drive efficient and effective delivery of accounting services across Turnstone, to include general accounting, account receivables, payables and payroll. Collaborate with IT to drive development of appropriate financial systems to support accounting operations.
· Partner with legal and business development on contractual terms to assess financial and accounting impact and oversee financial compliance with all significant contractual obligations
· Help lead fundraising and financing efforts, working closely with the executive team. Help manage ongoing relationships with financial institutions.
· Prepare and present financials to the company, Board Audit Committee and key stakeholders.
· Develop, implement and monitor internal controls and financial policies and procedures to ensure that the organization’s day-to-day operational activities are efficient and effective, and investments are in-line with budgets.
Financial Planning & Analysis
· Lead all aspects of financial planning, budgeting and forecasting. Work closely with business partners and the executive team to plan for key revenue and cost drivers.
· Develop annual budgets for the review and approval of Management and the Board of Directors; ensure that input is provided by Project Managers in the development of budgets and forecasts.
· Prepare and provide quarterly detailed financial reporting packages (budget/cash flow forecasting/variance analysis) to Management, the Board of Directors and Investors of the organization
· Develop the financial reporting infrastructure (e.g., program and function P&Ls) to enable strategic decisions, ongoing analysis and performance tracking by the executive team
Tax and Treasury
· Manage global tax compliance with all required federal, state, local, payroll, property and other applicable taxes. Ensure that the organization makes all required government remittances and remits applicable taxes in which it operates
· Oversee cash management and act as the company’s treasurer
· Manage stock plan administration activities
· Assist with the management of business insurance requirements
Experience & Qualifications
· Undergraduate degree in business administration, accounting, finance, economics or related field is required; CPA required
· 15 years or more experience with progressively increasing responsibilities and leadership roles with significant experience in Accounting function
· Life science experience is required