From GlobeNewswire: 2024-08-13 17:37:00

Calidi Biotherapeutics Inc. launched its Nova Cell subsidiary with a $2 million investment from Dr. Ronald Rigor to advance its stem cell programs. Dr. George E. Peoples and Dr. Mark Gilbert joined the company’s team. Calidi also received a new U.S. patent for their SuperNova technology, enhancing their cancer treatment capabilities.

In the second quarter of 2024, Calidi reported a net loss of $5.8 million, a decrease from the previous year. The company received a $2 million strategic investment from Dr. Ronald Rigor for its stem cell programs. Dr. Rigor also joined Calidi’s Scientific and Medical Advisory Board. Additionally, the company appointed Dr. George Peoples and Dr. Mark Gilbert to key positions on their team.

Calidi received a patent for their novel SuperNova technology platform, allowing for a unique cancer treatment that combines stem cells and a smallpox vaccine. The technology has shown promise in shielding the viral payload from the immune system. The company also received $2.5 million in gross proceeds from warrant exercises in July and August 2024.

The company’s financial results for the second quarter showed a net loss of $5.8 million, with research and development expenses at $2.2 million. Calidi had approximately $0.8 million in cash and $0.2 million in restricted cash as of June 30, 2024. Calidi Biotherapeutics is a clinical-stage immuno-oncology company headquartered in San Diego, California, with a focus on developing novel stem cell-based therapies for cancer.



Read more at GlobeNewswire:: Calidi Biotherapeutics Reports Second Quarter 2024