Calidi Biotherapeutics(US:CLDI) Newsfilterยท2024-07-29 13:00Core Insights - Calidi Biotherapeutics, Inc. announced a $2 million strategic investment by Dr. Ronald Rigor into its new subsidiary, Nova Cell, to advance its Adult Adipose Allogeneic (AAA) stem cell programs [1][7] - Dr. Rigor also invested an additional $1 million into Calidi to support its oncology pipeline [1] - The global stem cell therapy market is projected to grow from $14.5 billion in 2024 to $31.4 billion by 2030, with Calidi's AAA stem cell technology positioned to lead this market [3] Company Developments - Nova Cell will serve as an exclusive technology service provider for Dr. Rigor to develop innovative stem cell-based products, including anti-aging creams and lotions for the Philippines [2] - Calidi's AAA stem cell technology is expected to generate revenue by supplying stem cells to Dr. Rigor's patients starting in 2025 [3] - The establishment of Nova Cell enhances strategic focus and resource allocation for both Calidi and Nova Cell, with Calidi concentrating on cancer therapies and Nova Cell on regenerative treatments [3] Investment Details - Dr. Rigor's investment includes a $1 million subscription agreement for Calidi common stock at a 10% discount and warrants for 600,000 shares at a 20% premium [7] - The investment aims to unlock the potential of off-the-shelf AAA stem cells through Calidi's advanced cellular manufacturing process [7] Market Position - Calidi Biotherapeutics is a clinical-stage immuno-oncology company utilizing proprietary technology to enhance the immune system's ability to fight cancer [4] - The company has been harvesting AAA stem cells from healthy adult donors for five years, adhering to FDA guidelines, and is now expanding applications beyond oncology to fields like cosmetics and orthopedics [8] - Dr. Rigor, as a leading figure in stem cell therapy in the Philippines, aims to elevate the health and wellness industry through this partnership with Nova Cell [9]