LA JOLLA – Calidi Biotherapeutics, a UTC-based biotech company specializing in developing cell-based therapies, has secured fresh capital and spin off a new commercial subsidiary called Nova Cell.
The firm received a $3 million investment led by Dr. Ronald Rigor. The new funds will be used to further Calidi’s oncology pipeline of assets and support the launch of its new subsidiary, said Allan Camaisa, who is the chairman and chief executive of Calidi Bio.
CEO and Chairman
Calidi Biotherapeutics
“Our proprietary cell expansion method and specialized media, developed by Calidi’s scientists and process development team, will offer significant scalability advantages over other mesenchymal stem cell lines,” said Camaisa. “Nova Cell enables Calidi to unlock a valuable asset in AAA stem cells, generating current and future value. Establishing Nova Cell as a new subsidiary will also enhance the strategic focus and resource allocation efficiency for both Calidi, which is dedicated to cancer therapies, and Nova Cell, which concentrates on innovative regenerative treatments and other conditions utilizing stem cells.”
Universal Cancer Treatment
Founded in 2014, the 40-person Calidi Bio aims to bring a universal cancer treatment to a broad patient population who need access to new treatment options.
Calidi is developing stem cell-based platforms for the delivery and potentiation of oncolytic viruses to treat cancer.
“During my father’s illness, I searched for a solution, a clinical trial, anything. Unfortunately, there was nothing at the time that could help my father,” said Camaisa. “Our patented technology has the ability to teach a patient’s immune system to recognize, fight and kill cancer cells.”
Advisory Board Member
Calidi Biotherapeutics
Its sole clinical-stage asset is CLD-101, which uses its NeuroNova platform.
This therapy consists of allogeneic neural stem cells loaded with an oncolytic adenovirus and has already completed a phase 1 study in patients with newly diagnosed high-grade gliomas.
New Subsidiary
Nova Cell aims to expand beyond oncology which includes cosmetics, orthopedics, auto-immune diseases, among other verticals.
“As the founder of one of the largest and fastest growing stem cell centers in the Philippines, I am delighted to partner with and invest in Nova Cell. This is a fantastic opportunity to provide best-in-class stem cell therapy treatments which could meet a huge unmet need in the Philippines,” said Rigor.
The global stem cell therapy market is estimated to hit $31 billion in the next six years, up from $14 billion in 2024, according to Precedence Research.
It anticipates generating revenue by supplying AAA stem cells to patients as earlier as next year.
“Our proprietary cell expansion method and specialized media, developed by Calidi’s scientists and process development team, will offer significant scalability advantages over other mesenchymal stem cell lines, said Camaisa.
Looking Ahead
In 2023, the San Diego-based company went public via SPAC in September, it raised roughly $70 million to push allogeneic cancer therapies into clinic.
It debuted on the NYSE American stock exchange and partnered with First Light Acquisition Group. That public fundraise helped add cash to the balance sheet, according to the company, which will its operations going into 2025.
In 2024, the local biotech kicked-off a phase 1/2 study assessing CLD-201 in advanced metastatic solid tumors including triple-negative breast cancer, unresectable melanoma and squamous cell head and neck carcinoma.
As part of the strategic investment, Dr. Rigor will join the company’s scientific and medical advisory board and gains exclusive rights for AAA stem cell use in the Philippines.
“We look forward to bringing Nova Cell’s extensive experience in stem cell therapy production to provide innovative therapies to patients and to elevate the health and wellness industry in the Philippines,” said Rigor.
Calidi Biotherapeutics
FOUNDED: 2014
CEO: Allan Camaisa
Headquarters: University Towne Center, La Jolla
Business: Stem cell-based oncolytic virus delivery platform
Employees: 40
Website: www.calidibio.com
Notable: Calidi’s master stem cell bank was derived using liposuction of adipose-derived mesenchymal stem cells (lower back fat) from healthy adults
