Calidi Biotherapeutics Announces Appointment of Seasoned Biotech Executive George Ng to Board of Directors

SAN DIEGO--(BUSINESS WIRE)-- Calidi Biotherapeutics, Inc. (“Calidi”), a clinical‐stage biotechnology company at the forefront of oncolytic virus-based immunotherapies for cancer, today announced the appointment of seasoned biotech executive, George Ng, Partner of PENG Life Science Ventures. His extensive background includes co-founding and leading the efforts of a pharmaceutical company from pre-clinical to clinical to New Drug Application (NDA) submission to commercialization and subsequent sale of the company. In the process, he raised more than $140 million in non-dilutive funding to commercialize its FDA-approved pain medication. Calidi believes Mr. Ng’s experience will help to accelerate the growth of the company and its proprietary and novel cell-based oncolytic virus delivery platform.

“We are honored to have George Ng join our board of directors. He is a recognized leader in the development, operation, and growth of biotech organizations worldwide. His contributions have played a significant role in the development and commercialization of multiple drugs across several therapeutic areas,” said Allan J. Camaisa, CEO and Chairman of Calidi Biotherapeutics. “We look forward to fully utilizing his experience as we head into Phase 2 clinical trials. We think his sincere approach to leading organizations will be a fantastic fit for the Calidi Biotherapeutics team.”

Calidi Biotherapeutics’s proprietary technology platform has shown to significantly potentiate oncolytic virotherapy through a cell-based delivery system. In their first-in-human study in 26 patients with advanced metastatic cancer, Calidi demonstrated excellent safety and initial signals of efficacy after a single treatment administration. Following discussions with the Food and Drug Administration (FDA) Calidi is preparing an Investigational New Drug (IND) application to commence new Phase 1b/2 clinical trials for their leading product candidate in patients with melanoma and other solid tumors.

“I am excited to join Calidi Biotherapeutics on their mission to treat, and hopefully cure difficult-to-treat cancer types,” said George Ng, newly appointed board member of Calidi Biotherapeutics. “Calidi is primed and ready to take the industry by storm. It is exciting to see the advances they have made in overcoming the hurdle of oncolytic viruses being eliminated by the patient’s immune system.”

Previously Mr. Ng was the President, Managing Director, Chief Administrative Officer, Corporate Secretary, Chief Legal Officer, General Counsel, Chief Compliance Officer and Chief Intellectual Property Counsel, with multiple publicly-traded and private, global biotechnology and pharmaceutical companies, including BioDelivery Sciences International, Inc. (NASDAQ: BDSI), Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) and Alpharma, Inc. (now, a part of Pfizer Inc.). In these roles, Mr. Ng helped lead the commercialization efforts and launches of multiple pharmaceutical drug products. During his early years, Mr. Ng was in private practice, as a partner in two AMLAW-200 law firms, where he held various leadership roles and helped establish a life science practice group for one of these firms.

Among his multiple awards and commendations, Mr. Ng was a recipient of the 2015 Outstanding 50 Asian Americans in Business Award, past recipient of M&A Advisor’s Top 40 Under 40 Award (in 2012) and nominee for the Orange County Business Journal’s Inaugural General Counsel Awards (in 2010); and, in 2010, MDB Capital recognized Mr. Ng (and the company where he led the intellectual property efforts) for its Best and Brightest Award and as an Astrum Award nominee for a pharmaceutical patent portfolio that he managed and developed. Mr. Ng earned a Juris Doctor (J.D.) degree in law from the University of Notre Dame School of Law and a Bachelor of Arts and Sciences (B.A.S.) dual degree in Biochemistry & Economics from the University of California, Davis.

About Calidi Biotherapeutics
Calidi Biotherapeutics is a clinical-stage immuno-oncology company with proprietary technology that is revolutionizing the effective delivery of oncolytic viruses for targeted therapy against difficult to treat cancers. Calidi Biotherapeutics is advancing a potent allogeneic stem cell and oncolytic virus combination for use in multiple oncology indications. In addition, our team is developing a universal cell delivery system to house, protect, and potentiate any oncolytic viruses currently in development which can potentially enhance efficacy and improve patient safety. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit www.calidibio.com.

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http://www.calidibio.com

Forward Looking Statement:
Some of the statements in this press release may be forward-looking statements that involve risks and uncertainties. Such forward-looking statements include the expectations, plans and prospects for the Company, including potential clinical successes, anticipated regulatory approvals and future product launches, and projected revenues, margins, earnings and market shares. The statements made by the Company are based upon management’s current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include market conditions and other factors beyond the Company’s control. Calidi Biotherapeutics does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will Calidi Biotherapetucs and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

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