Envirotech Vehicles appoints Jason Maddox to board of directors
SAN DIEGO - Calidi Biotherapeutics Inc. (NYSE American: CLDI), a biotech firm specializing in targeted antitumor virotherapies, announced the appointment of Eric Poma, Ph.D., as its new Chief Executive Officer and board member, effective yesterday. Allan Camaisa, the outgoing CEO, will continue his involvement as a board member. This leadership transition comes at a crucial time for the company, which operates in the highly competitive biotech sector. For detailed analysis of CLDI and similar biotech companies, InvestingPro offers comprehensive financial metrics and industry comparisons.
Dr. Poma, with over three decades of experience in the biopharmaceutical sector, brings a wealth of knowledge in capital fundraising, clinical program development, and big pharma collaborations. His previous tenure as CEO of Molecular Templates saw him raising substantial equity and securing strategic capital through partnerships with industry giants like Takeda, Vertex, and BMS. During his leadership at Molecular Templates (MTEM), the company faced significant challenges, with InvestingPro data showing a revenue decline of nearly 50% in the last twelve months and substantial cash burn rates.
The company is poised to advance its systemic enveloped virotherapy platform, RTNova, with upcoming clinical trials for its therapeutic candidates, including CLD-400. Additionally, Calidi is preparing for a company-sponsored dose escalation trial of CLD-201, targeting adult patients with solid tumors.
James Schoeneck, Chairman of the Board, expressed gratitude to Camaisa for his visionary leadership and welcomed Dr. Poma’s expertise, particularly in oncology, as the company moves forward with its clinical programs. Dr. Poma acknowledged the strong foundation laid by Camaisa and expressed eagerness to leverage his experience to enhance shareholder value and progress Calidi’s innovative therapies.
Calidi’s technology focuses on employing allogeneic stem cells as carriers for oncolytic viruses in the treatment of various cancers, including high-grade gliomas and solid tumors. Their approach aims to potentially treat or prevent metastatic disease.
The information in this article is based on a press release statement from Calidi Biotherapeutics.
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