LA JOLLA, Calif. – June 28, 2022 – Calidi
Biotherapeutics, Inc., a clinical-stage biotechnology company that is
pioneering the development of stem cell-based delivery of oncolytic viruses,
today announced the appointment of W.K. Alfred Yung, M.D., Professor,
Neuro-Oncology at the MD Anderson Cancer Center, to its Medical Advisory
Board.
“We are inspired by clinician-scientists like Dr. Yung who
have dedicated their careers to advancing care for patients with deadly
cancers, such as glioblastoma, for which there are few effective
treatments,” said Allan J. Camaisa, Chief Executive Officer and
Chairman of Calidi. “As clinical trials studying the safety and
efficacy of Calidi’s oncolytic virus-based therapies progress, the
expertise of seasoned clinicians like Dr. Yung will help us further our
understanding of the benefits of these drugs to patients.”
Dr. Yung is a fixture in the treatment of brain cancers with
extensive experience studying glioblastoma, the deadliest form of brain
cancer. He built the neuro-oncology department at MD Anderson Cancer Center,
served as co-chair of the National Cancer Institute Brain Malignancy
Steering Committee, and advised President Biden’s Cancer Moonshot
Initiative. Dr. Yung has published more than 350 peer-reviewed articles and
served as the editor-in-chief of Neuro-Oncology.
“Despite many promising new advancements in precision
medicine for many cancers, glioblastoma remains one of the deadliest cancers
with limited treatment successes and poor patient quality of life,”
said W. K. Alfred Yung, M.D. “I see great promise in the potential of
Calidi Biotherapeutics’ therapeutic vaccine which shields
cancer-fighting oncolytic viruses in stem cells, helping protect the virus
from a patient’s immune system until it reaches the cancer cell. If
this approach proves successful in human trials, it could be a game changer
not just for the treatment of brain cancers, but for other solid tumor
cancers too.”
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 through the FDA approval
process 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 La Jolla, California. For more information, please
visit www.calidibio.com.
Forward-Looking Statement
This press release contains 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,”
“would” as well as similar terms, are forward-looking in nature.
The forward-looking statements contained in this discussion are based on the
Calidi’s current expectations and beliefs concerning future
developments and their potential effects. There can be no assurance that
future developments affecting Calidi will be those that it has anticipated.
These forward-looking statements involve a number of risks, uncertainties
(some of which are beyond Calidi’s control) or other assumptions that
may cause actual results or performance to be materially different from
those expressed or implied by these forward-looking statements. Factors that
may cause actual results to differ materially from current expectations
include, but are not limited to: the occurrence of any event, change or
other circumstances that could give rise to the termination of negotiations
and any subsequent definitive agreements with respect to the business
combination (the “Business Combination”) with Edoc Acquisition
Corp. (“Edoc”); the outcome of any legal proceedings that may be
instituted against Edoc, Calidi, the combined company or others following
the announcement of the Business Combination, the private placement
financing proposed to be consummated concurrently with the Business
Combination (the “PIPE”), and any definitive agreements with
respect thereto; the inability to complete the Business Combination due to
the failure to obtain approval of the shareholders of Edoc, the possibility
that due diligence completed following execution of the principal definitive
transaction documents for the Business Combination and PIPE will not be
satisfactorily concluded, the inability to complete the PIPE or other
financing needed to complete the Business Combination, or to satisfy other
conditions to closing; changes to the proposed structure of the Business
Combination that may be required or appropriate as a result of applicable
laws or regulations or as a condition to obtaining regulatory approval of
the Business Combination; the ability to meet stock exchange listing
standards following the consummation of the Business Combination; the risk
that the Business Combination disrupts current plans and operations of
Calidi as a result of the announcement and consummation of the Business
Combination; the ability to recognize the anticipated benefits of the
Business Combination or to realize estimated pro forma results and
underlying assumptions, including with respect to estimated shareholder
redemptions; costs related to the Business Combination; changes in
applicable laws or regulations; the evolution of the markets in which Calidi
competes; the inability of Calidi to defend its intellectual property and
satisfy regulatory requirements; the ability to implement business plans,
forecasts, and other expectations after the completion of the proposed
Business Combination, and identify and realize additional opportunities; the
risk of downturns and a changing regulatory landscape in the highly
competitive pharmaceutical industry; the impact of the COVID-19 pandemic on
Calidi’s business; and other risks and uncertainties set forth in the
section entitled “Risk Factors” and “Cautionary Note
Regarding Forward-Looking Statements” in Edoc’s preliminary
prospectus dated March 16, 2022, in the Registration Statement on Form S-4
filed with the Securities and Exchange Commission (“SEC”) on
March 16, 2022.
Important Information About the Business Combination
Transaction and Where to Find It
This press release relates to a proposed business combination
between Edoc Acquisition Corp. a Cayman Islands exempted company, EDOC
Merger Sub Inc., a Nevada corporation and Calidi Biotherapeutics, Inc., a
Nevada corporation. A full description of the terms and conditions Agreement
and Plan of Merger constituting the business combination is provided in the
registration statement on Form S-4 filed with the U.S. Securities and
Exchange Commission (SEC) by Edoc Acquisition Corp., that includes a
prospectus with
respect to the securities to be issued in connection with the merger, and
information with respect to an extraordinary meeting of Edoc Acquisition
Corp. shareholders to vote on the merger and related transactions. Edoc
Acquisition Corp. and Calidi Biotherapeutics, Inc. urges its investors,
shareholders and other interested persons to read the proxy statement and
prospectus as well as other documents filed with the SEC because these
documents will contain important information about Calidi Biotherapeutics,
Inc., Edoc Acquisition Corp., and the business combination transaction.
After the registration statement is declared effective, the definitive proxy
statement and prospectus to be included in the registration statement will
be distributed to shareholders of Edoc Acquisition Corp. and Calidi
Biotherapeutics, Inc., as of a record date to be established for voting on
the proposed merger and related transactions. Shareholders may obtain a copy
of the Form S-4 registration statement, including the proxy statement and
prospectus, and other documents filed with the SEC without charge, by
directing a request to: Edoc Acquisition Corp. at 7612 Main Street Fishers,
Suite 200, Victor, New York 14564. The preliminary and definitive proxy
statement and prospectus included in the registration statement can also be
obtained, without charge, at the SEC’s website (www.sec.gov).
Participation in the Solicitation
Edoc Acquisition Corp., Calidi Biotherapeutics, Inc., and their
respective directors and executive officers may be deemed to be participants
in the solicitation of proxies or consents from Edoc Acquisition Corp. and
Calidi Biotherapeutics, Inc. shareholders in connection with the proposed
transaction. A list of the names of the directors and executive officers of
Edoc Acquisition Corp. and Calidi Biotherapeutics, Inc. and information
regarding their interests in the business combination transaction is
contained in the proxy statement and prospectus. You may obtain free copies
of these documents as described in the preceding paragraph.
No Offer or Solicitation
This press release will not constitute a solicitation of a proxy,
consent or authorization with respect to any securities or in respect of the
proposed business combination. This press release will also not constitute
an offer to sell or the solicitation of an offer to buy any securities of
Calidi Biotherapeutics, Inc., nor will there be any sale of securities in
any states or jurisdictions in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws
of any such jurisdiction. No offering of securities will be made except by
means of a prospectus meeting the requirements of section 10 of the
Securities Act of 1933, as amended, or an exemption therefrom.
Contacts:
For Investors:
Stephen Jasper
Stephen@gilmartinir.com
For Media:
Gwen Gordon
GGordon@cglife.com