First Light Acquisition Group, a special purpose acquisition company (SPAC), has merged with Calidi Biotherapeutics Inc., a clinical-stage biotechnology company focused on the development of allogeneic cell-based delivery of oncolytic viruses.

The merger looks to create a public company focused on developing oncolytic viral therapies with stem cell-based delivery services to treat a range of cancers with unmet needs. Upon closing, the combined company will be named Calidi Biotherapeutics and led by Allan Camaisa, CEO and chairman of the board.

“This business combination positions us well as we build upon the momentum generated to date from our NeuroNova and SuperNova platforms, which have the potential to overcome the limitations of first-generation oncolytic virus therapies,” states Camaisa. “Furthermore, the merger will allow us to leverage FLAG’s comprehensive network in both the private and public sectors, capital markets and operational experience, and successful track record addressing missions of U.S. national and global importance.”

Lewis Brisbois Bisgaard & Smith LLP acted as legal counsel to Calidi. Weil, Gotshal & Manges LLP acted as legal counsel to FLAG.