Calidi Biotherapeutics Secures $25 Million in Series B Funding.
Funding will be Used to Propel the Development of Stem Cell-Based Cancer Treatments Using Oncolytic Viruses.
Funding Round Info:
Calidi Biotherapeutics, a pioneering biotech company at the forefront of stem cell-based therapies, has announced a significant milestone in their growth journey. They have successfully secured a commitment of $25 million in a Series B funding round. This substantial financial injection will be instrumental in accelerating the company's innovative approach to cancer treatment. Calidi's unique therapeutic strategy involves the use of stem cell-based platforms for the delivery and potentiation of oncolytic viruses. Oncolytic viruses are a promising new class of therapeutic agents that selectively replicate and kill cancer cells while leaving normal cells unharmed. By harnessing the power of these viruses, Calidi aims to develop more effective and potentially less harmful treatments for cancer. The funds from this Series B round will be channeled towards advancing the research and development of these platforms, with the ultimate goal of bringing them closer to clinical application. This could potentially revolutionize the way cancer is treated and provide new hope for patients worldwide. In addition to bolstering their R&D efforts, the funding will also enable Calidi to expand their team, invest in new technologies, and forge strategic partnerships. This will further strengthen their position in the biotech industry and pave the way for future breakthroughs in cancer treatment.
About Calidi Biotherapeutics:
Calidi Biotherapeutics is a clinical-stage biotechnology company that is pioneering the development of allogeneic cell-based delivery of oncolytic viruses. Their mission is to eradicate cancer using their innovative oncolytic platforms. The company's research into the therapeutic effects of stem cells has led to groundbreaking implications for the treatment of cancer and other therapy-resistant diseases. Their primary product, SNV1, has shown promising pre-clinical data. It shields the oncolytic virus from a patient’s immune system, supporting efficient delivery to tumor sites and effectively potentiating the viral payload. This approach could revolutionize oncolytic virotherapies and offer new hope for patients with cancer. The team at Calidi Biotherapeutics is a talented and seasoned group of world-class executives, doctors, and scientists who are committed to producing revolutionary work in the field of cancer treatment. The company is based in San Diego, California, with a subsidiary, StemVac GmbH, located in Germany.
About Jackson Investment Group (JIG):
Jackson Investment Group, LLC (JIG) is an investment firm based in Alpharetta, Georgia, United States. The company's primary business involves investing and originating loans for its own account, as well as acting as a holding company for a number of operating companies engaged in healthcare staffing and related businesses. JIG has been involved in various transactions, including the acquisition of shares in different companies. For instance, it acquired shares of Staffing 360 Solutions, Inc., a Nevada corporation, and also entered into a financing transaction with the same company, acquiring a $7,400,000 subordinated secured note of the Issuer. The company is led by Richard L. Jackson, who serves as the Chairman, Chief Executive Officer, President, and sole manager. Under his leadership, JIG continues to explore investment opportunities and expand its portfolio.