Calidi Biotherapeutics, Inc., a clinical-stage biotechnology company that is pioneering the development of allogeneic cell-based delivery of oncolytic viruses, announced the commitment of $25 million in Series B funding led by Jackson Investment Group, who has funded an initial investment of $5 million, and participation from Calidi Cure, LLC, a consortium of new and existing investors led by Allan Camaisa, CEO and Chairman of Calidi.

The remaining commitment is conditioned upon the consummation of the previously announced business combination between First Light Acquisition Group (NYSEAMERICAN: FLAG) and Calidi. FLAG's Sponsor and Metric Finance Holdings will contribute sponsor economics to the Series B investors as part of the transaction.