San Diego-based Calidi Biotherapeutics raises USD 25 million in Series B funding

SAN DIEGO – Jackson Investment Group (“JIG”), which has contributed an initial investment of USD 5 million, and Calidi Cure, LLC, a group of new and existing investors led by Allan Camaisa, CEO and Chairman of Calidi, have both committed USD 25 million in Series B funding to Calidi Biotherapeutics, Inc. (“Calidi”), a clinical-stage biotechnology company that is developing allogeneic cell-based delivery of oncolytic viruses. Completing the previously announced business merger between First Light Acquisition Group (NYSEAMERICAN: FLAG) and Calidi is a requirement for the remaining commitment. As part of the deal, Metric Finance Holdings and FLAG’s Sponsor will provide sponsor economics to the Series B investors. 

“Calidi’s technology, which uses stem cells to deliver and potentiate oncolytic viruses, is a fresh and distinctive method of combating cancer. Allan Camaisa, CEO and Chairman of the Board of Calidi Biotherapeutics said, “I am grateful to our new and existing investors for their support of our mission and look forward to using this funding to continue pushing the frontiers of stem cells and oncolytic viral therapies and making a difference in the lives of patients.”

“Jackson Investment Group invests in companies and people who we believe have the potential to make significant impacts in areas of great unmet need,” stated Rick Jackson, Jackson Investment Group’s chief executive. We are enthusiastic about supporting Calidi through this new phase in their ongoing effort to improve outcomes for cancer patients because we believe in the potential of their cell-based delivery platform. JIG, a current FLAG investor, is a private investment company with offices in Atlanta that manages over $3 billion in assets and operates in the energy, healthcare, real estate, technology, and bioscience sectors.

An immuno-oncology firm in the clinical stages called Calidi Biotherapeutics is revolutionizing the efficient administration and potentiation of oncolytic viruses for targeted therapy against tumors that are challenging to treat. A potent allogeneic stem cell and oncolytic virus combination for application in several cancer indications is being developed clinically by Calidi Biotherapeutics. Calidi’s global, off-the-shelf cell-based delivery platforms are made to safeguard, amplify, and potentiate oncolytic viruses currently under development, increasing their effectiveness and patient safety. The headquarters of Calidi Biotherapeutics is in San Diego, California. 

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