Press Release

Calidi Biotherapeutics Announces Appointment of Cancer Immunotherapy Pioneer Dr. George Peoples to Board of Directors

Calidi Biotherapeutics, Inc. (NYSE American: CLDI or "Calidi") has appointed Dr. George E. Peoples, MD, FACS, to the company's Board of Directors, effective July 1, 2024. Calidi is a clinical-stage biotechnology company that is developing a new generation of targeted antitumor virotherapies.

Calidi Biotherapeutics

SAN DIEGO, CALIF. — June 27, 2024 – Calidi Biotherapeutics, Inc. (NYSE American: CLDI or “Calidi”), a clinical-stage biotechnology company developing a new generation of targeted antitumor virotherapies, today announced the appointment of Dr. George E. Peoples, MD, FACS, to the company’s Board of Directors, effective July 1, 2024.

“Dr. Peoples is a highly esteemed figure in the field of cancer immunotherapy, bringing decades of experience in cancer vaccine development and clinical research to our Board,” said Allan Camaisa, CEO and Chairman of the Board of Calidi Biotherapeutics. “Dr. Peoples’ pioneering work in cancer immunotherapy and his extensive experience in both clinical and military settings will be invaluable as we advance our portfolio of cancer immunotherapies into later-stage clinical trials.”

Dr. Peoples is the Founder and Director of the Cancer Vaccine Development Program (CVDP), with over 20 years of experience in discovering, developing, and clinically testing cancer vaccines, four of which have been licensed for commercial development. He also founded LumaBridge (formerly Cancer Insight), an oncology-focused Contract Research Organization (CRO) and development partner currently engaged with over 25 pre-clinical and clinical trial sponsors.

In addition to his roles at CVDP and LumaBridge, Dr. Peoples serves as a Professor of Surgery at the Uniformed Services University of the Health Sciences (USUHS) and an adjunct Professor of Surgical Oncology at MD Anderson Cancer Center. He has held significant positions such as Chair of the Cancer Care Program at San Antonio Military Medical Center and Military Director of the United States Military Cancer Institute. Dr. Peoples is a graduate of the United States Military Academy at West Point and the Johns Hopkins School of Medicine, and he completed his surgical training at Harvard’s Brigham and Women’s Hospital and a surgical oncology fellowship at MD Anderson Cancer Center. He has authored over 350 peer-reviewed manuscripts, abstracts, and book chapters.

“Calidi Biotherapeutics has made remarkable strides in the development of allogeneic stem cell therapies and oncolytic virus delivery systems,” said Dr. Peoples. “I am excited to join the Board and contribute to the company’s innovative approach to cancer treatment. I look forward to working with the Calidi team to advance these promising therapies through clinical development and towards commercialization.”

About Calidi Biotherapeutics:

Calidi Biotherapeutics (NYSE American: CLDI) is a clinical-stage immuno-oncology company with proprietary technology designed to arm the immune system to fight cancer. Calidi’s novel stem cell-based platforms are utilizing potent allogeneic stem cells capable of carrying payloads of oncolytic viruses for use in multiple oncology indications, including high-grade gliomas and solid tumors. Calidi’s clinical stage off-the-shelf, universal cell-based delivery platforms are designed to protect, amplify, and potentiate oncolytic viruses leading to enhanced efficacy and improved patient safety. Calidi’s preclinical off-the-shelf enveloped virotherapies are designed to target disseminated solid tumors. This dual approach can potentially treat, or even prevent, metastatic disease. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit www.calidibio.com.

Forward-Looking Statements

This press release may contain forward-looking statements for purposes of the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995. Terms such as “anticipates,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predicts,” “project,” “should,” “towards,” “would” as well as similar terms, are forward-looking in nature, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements concerning upcoming key milestones (including the reporting of interim clinical results and the dosing of patients), planned clinical trials, and statements relating to the safety and efficacy of Calidi’s therapeutic candidates in development. Any forward-looking statements contained in this discussion are based on Calidi’s current expectations and beliefs concerning future developments and their potential effects and are subject to multiple risks and uncertainties that could cause actual results to differ materially and adversely from those set forth or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that Calidi is not able to raise sufficient capital to support its current and anticipated clinical trials, the risk that early results of clinical trials do not necessarily predict final results and that one or more of the clinical outcomes may materially change following more comprehensive review of the data, and as more patient data becomes available, the risk that Calidi may not receive FDA approval for some or all of its therapeutic candidates. Other risks and uncertainties are set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Registration Statements filed with the SEC on Form S-4 filed on August 2, 2023, on Form S-1 filed on October 6, 2023, on Form S-1 filed on January 29, 2024, as amended on February 7, 2024, on Form 10-K filed on March 15, 2024, and Final Prospectus filed on April 17, 2024.

For Investors and Media:

Stephen Thesing

IR@Calidibio.com

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