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Calidi Biotherapeutics, Inc. (NYSE:CLDI), a clinical-stage biotechnology company developing a new generation of targeted antitumor virotherapies, announced a $2 million strategic investment by Dr. Ronald Rigor into its new subsidiary, Nova Cell, Inc. ("Nova Cell"), to advance Calidi's Adult Adipose Allogeneic (AAA) stem cell innovative programs. Dr Rigor also invested an additional $1 million into Calidi to further its oncology pipeline of assets.
Dr. Ronald Rigor, an accomplished Board-Certified Dermatologist, Internal Medicine, and Stem Cell Therapy expert with offices in Los Angeles, CA USA and Metro Manila, Philippines (BGC), has taken a significant step to advance regenerative medicine by investing in Calidi's new Nova Cell subsidiary. The investment comprises of (i) a $1 million dollar subscription agreement to purchase a combination of CLDI common stock at a 10% discount to the closing price on July 22, 2024 and warrants to purchase 600,000 shares of common stock at a 20% premium to the closing price on July 22, 2024; and (ii) a $2 million dollar investment to purchase common stock of Nova Cell. Based on Calidi's advanced cellular manufacturing process, this investment will unlock the potential of off-the-shelf AAA stem cells. Furthermore, in connection with Dr. Rigor's investment, Calidi is proud to announce his appointment as a member of its Scientific and Medical Advisory Board.
Posted In: CLDI
