Lewis Brisbois Corporate Team Advises Calidi Biotherapeutics in $335 Million Merger Expected to Advance Cancer Therapies
Los Angeles, Calif. (January 19, 2022) - A Lewis Brisbois team led by Los Angeles/Sacramento Partner and National Co-Chair of Lewis Brisbois’ Securities and Corporate Finance Practice Scott E. Bartel recently advised clinical-stage biotechnology company Calidi Biotherapeutics in its merger with special-purpose acquisition company (SPAC) First Light.
As described in a Law360 article about the deal, Calidi specializes in using oncolytic viral therapies – viruses that infect and break down cancer cells but not normal cells – to treat cancer patients. The merger agreement between Calidi and First Light creates a public company, worth $335 million, that will focus on developing cancer therapies. The combined company, named Calidi Biotherapeutics Inc., will be traded on the New York Stock Exchange under the ticker symbol "CLDI." Calidi CEO and Chairman of the Board Allan Camaisa will continue to lead the newly-formed company, which is expected to work toward overcoming limitations associated with first-generation oncolytic virus therapies.
Lewis Brisbois’ team included San Francisco Partner Daniel B. Eng, Sacramento/San Francisco/Los Angeles Partner Eric J. Stiff, Sacramento/San Francisco Partner Deborah K. Seo, and Sacramento Associate Sheryl Lynn Tan.
Read the full Law360 article, titled “Lewis Brisbois, Weil Guide $335M Cancer Biotech SPAC Deal,” here (subscription may be required).
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