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Calidi Biotherapeutics Announces Appointment of Dr. George Peoples, a Prominent Immuno-Oncology Expert, to its Scientific and Medical Advisory Board

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Calidi Biotherapeutics, Inc. ("Calidi"), a clinical‐stage biotechnology company at the forefront of oncolytic virus-based immunotherapies for cancer, today announced the appointment of COL (retired) George E. Peoples, MD, FACS to its Scientific and Medical Advisory Board. Dr. Peoples has served his country for over three decades as a surgeon and research scientist in the military. He is also the Founder of the military Cancer Vaccine Development Program (CVDP) and the oncology-focused clinical research organization, Cancer Insight, LLC.

"We are continuing to add leading experts to our Scientific and Medical Advisory Board who understand the complexity of pioneering breakthrough innovations in immuno-oncology to support the next phase of Calidi's growth," said Allan Camaisa, CEO of Calidi Biotherapeutics. "Dr. Peoples is a passionate leader with significant experience in cancer vaccines and a recognized authority on early oncology therapeutic development."

"I am excited to join this incredibly focused and dedicated group of advisors," said Dr. George Peoples, MD, FACS. "Developing an off-the-shelf allogeneic stem cell-based platform to deliver and potentiate oncolytic viruses makes sense on many levels. This novel approach may unlock the potential for oncolytic viral therapy in multiple cancer types. I look forward to working with the Calidi's team and their distinguished advisors on the optimization and clinical development of their platform technology."

"We are honored to collaborate with Dr. Peoples, a key opinion leader in cancer immunotherapy, and especially in immunotherapy of breast cancer – a key target of Calidi's approach," said Boris Minev, MD, President, Medical and Scientific Affairs, Calidi Biotherapeutics. "His contributions to our preclinical and clinical programs focused on Calidi's novel cell-based oncolytic immunotherapy platforms will be instrumental to their success."

Dr. Peoples is a Professor of Surgery at Uniformed Services University of the Health Sciences (USUHS) and a Professor (adjunct) of Surgical Oncology at MD Anderson Cancer Center (MDACC). He is the past Chair of the Cancer Program, San Antonio Military Medical Center (SAMMC) and the past Deputy Director of the United States Military Cancer Institute. Dr. Peoples previously served as the Chief of Surgical Oncology at Walter Reed Army Medical Center and at SAMMC. He is a graduate of the United States Military Academy, West Point and the Johns Hopkins School of Medicine. He completed his surgical training at Harvard's Brigham and Women's Hospital and also completed a postdoctoral fellowship at the Laboratory of Biologic Cancer Therapy at Harvard Medical School. He then completed a surgical oncology fellowship at MDACC prior to becoming the Chief of Surgical Oncology at WRAMC. He has published over 300 peer-reviewed manuscripts, abstracts, and book chapters on immuno-oncology and cancer vaccine development.

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 is developing an off-the shelf universal cell-based delivery platform designed to protect, amplify and potentiate oncolytic viruses 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 wide range of tumor cells as 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. To protect the vaccinia virus from the complement system, Calidi utilizes AD-MSC to protect the viral payload from the patients' 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, and 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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