Calidi Biotherapeutics – a clinical-stage biotechnology company that is pioneering the development of allogeneic cell-based delivery of oncolytic viruses – recently announced the commitment of $25 million in Series B funding led by Jackson Investment Group (JIG) – which has funded an initial investment of $5 million and participation from Calidi Cure, LLC, a consortium of new and existing investors led by Allan Camaisa, CEO and Chairman of Calidi.
The remaining commitment is conditioned upon the consummation of the previously announced business combination between First Light Acquisition Group (NYSEAMERICAN: FLAG) and Calidi. And FLAG’s Sponsor and Metric Finance Holdings will contribute sponsor economics to the Series B investors as part of the transaction. The financing will enable Calidi to continue the advancement of its pipeline including CLD-101, CLD-201, and CLD-202, which utilize a potent allogeneic stem cell and oncolytic virus combination for use in multiple oncology indications.
KEY QUOTES:
“Calidi’s technology utilizing stem cells to deliver and potentiate oncolytic viruses is a novel and differentiated approach to fighting cancer. 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.”
— Allan Camaisa, CEO and Chairman of the Board of Calidi Biotherapeutics
“Jackson Investment Group invests in companies and people who we believe have the potential to make significant impacts in areas of great unmet need. We believe in the promise of Calidi’s cell-based delivery platform and are excited to support the company through this next chapter in their continued pursuit of improving outcomes for patients living with cancer.” JIG, an existing investor in FLAG, is an Atlanta-based private investment firm with over $3 billion of assets under management and businesses in the energy, healthcare, real estate, technology, and bioscience industries.”
— Rick Jackson, Chief Executive Officer of Jackson Investment Group
