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Calidi Biotherapeutics Announces Appointment of Jim Schoeneck, Accomplished Biotech Executive, to Board of Directors

SAN DIEGO–()–Calidi Biotherapeutics, Inc., a clinical-stage biotechnology company at the forefront of oncolytic virus-based immunotherapies for cancer, announced today the appointment of veteran biotech executive and Chairman of FibroGen, Inc., Jim Schoeneck, to its Board of Directors. Throughout his career in the biotech and pharmaceutical industry, Schoeneck has served as CEO of five biotechnology and specialty pharmaceutical companies, including 10 years of service on the FibroGen board of directors. At Centocor, he launched the first anti-TNF antibody, Remicade, which became the third-largest selling drug in the world. Calidi believes that Schoeneck’s extensive expertise will provide significant support for the company’s advancement.

“Jim Schoeneck has 40 years of experience serving in various capacities of high-growth biotechs, including being CEO of publicly traded companies. His diverse experience and demonstrated success across a spectrum of novel therapeutic areas make his appointment to our Board extremely complementary,” said Allan Camaisa, CEO of Calidi Biotherapeutics. “As Calidi positions for commercialization activities, Mr. Schoeneck will be instrumental in helping the company navigate accompanying milestones.”

Calidi’s proprietary technology platform has been shown to effectively potentiate oncolytic viruses, using both autologous and scalable allogeneic stem cell-based delivery technology.

“I’m thrilled to join Calidi’s talented Board of Directors and provide support as the company further develops its novel platform and products,” said Schoeneck. “They’ve made remarkable progress in their mission to bring these innovative approaches to market and I’m eager to collaborate on the next chapter of Calidi’s growth.”

Prior to joining the FibroGen board in 2010, Schoeneck served as CEO and sat on the board of directors at Depomed, Inc. Schoeneck has separately held the title of CEO at BrainCells, Inc., ActivX BioSciences, and Prometheus Laboratories, Inc. Before joining Prometheus, he also spent three years as Vice President and General Manager, Immunology, at Centocor, Inc.—now Janssen Biotech, Inc.—where he led the development of the company’s commercial capabilities and oversaw the launch of one of the largest pharmaceutical brands in the world: Remicade. Schoeneck holds a B.S. in Education from Jacksonville State University.

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. Calidi’s off-the-shelf, universal cell-based delivery platform is designed to protect, amplify, and potentiate oncolytic viruses currently in development, leading to enhanced efficacy and improved patient safety. Calidi Biotherapeutics is headquartered in San Diego, California. For more information, please visit www.calidibio.com.

About SNV1

Supernova 1 (SNV1) is CAL1 tumor-selective vaccinia virus combined with allogeneic adipose-derived mesenchymal stem cells (AD-MSC). Vaccinia virus is not a human pathogen and has been extensively used as a vaccine in hundreds of millions of people for smallpox. CAL1 has naturally occurring attenuations/truncations linked to tumor selectivity and can infect a wide range of tumor cells as the vaccinia virus does not require a cell receptor. In addition, CAL1 offers a large insertion capacity of therapeutic genes for next-generation, gene-modified vaccinia viruses. Calidi utilizes AD-MSC to protect the viral payload of the vaccinia virus from the patient’s immune system, thus allowing effective delivery to the tumor sites.

Forward-Looking Statement

Some of the statements in this press release may be forward-looking statements that involve risks and uncertainties inherent in research and development. Such forward-looking statements include the expectations, plans, and prospects for the Company, including potential clinical successes, anticipated regulatory approvals and future product launches, projected revenues, margins, earnings, and market shares. No forward-looking statement can be guaranteed. 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 expressed or implied 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 completeness or updated status of such statements.

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