Companies · Biotechnology

Calidi Biotherapeutics, Inc.

SAN DIEGO · Biotechnology

Diligence memoA one-page analyst read on Calidi Biotherapeutics, Inc. — recommendation, valuation, rhythm, risks.
$15.2M
Total raised · real
5
Rounds
1.6×
Latest step-up
Top 37%
Sector rank · raised
Series A
Latest stage · inferred · Mon Jun 03 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Calidi Biotherapeutics, Inc. looks fair against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.68× the median modeled value of Series A Biotechnology companies in 2022–2024 (303 peers) — value vs value, same stage and era.
  • Within the normal band (68% of peer median) for its niche.
Quiet
  • Last raise 2.1 yr ago; this sector typically re-raises about every 14 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Calidi Biotherapeutics, Inc. is one of 4291 Biotechnology companies tracked from SAN DIEGO. By capital raised it ranks mid-pack (ahead of 64% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
9
Investors (latest)
2021
Year incorporated
2024-06-03
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$13M$25M$38M$50MSeries A · 2023-06-20 Raised $5.0M (real) Modeled valuation $43M (est)$5.0M$43MSeries A2023Series A · 2023-11-01 Raised $195K (real) Modeled valuation $1.4M (est)$195K$1.4MSeries A2023Series A · 2024-01-26 Raised $1.0M (real) Modeled valuation $6.5M (est)$1.0M$6.5MSeries A2024Series A · 2024-03-08 Raised $3.5M (real) Modeled valuation $21M (est)$3.5M$21MSeries A2024Series A · 2024-06-03 Raised $5.5M (real) Modeled valuation $30M (est)$5.5M$30MSeries A2024+$195K+$1.0M+$3.5M+$5.5MCumulative $15M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series A$5.0M · 2023
Series A extension$195K · 2023
Series A extension$1.0M · 2024
Series A extension$3.5M · 2024
Series A extension$5.5M · 2024

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$30.2M
Base estimate est.
$6.1M
Conservative case
$66.5M
Upside case
$25.2M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Aa $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series A · modeled $43.2M · 2023-06-202023Series A · modeled $1.4M · 2023-11-01Series A · modeled $6.5M · 2024-01-26Series A · modeled $21.4M · 2024-03-08Series A · modeled $30.2M · 2024-06-032024
Model inputs · modeled:benchmark-stage-stepup-v1
22%
Dilution assumption
Implied ownership sold in the financing.
44%
Survival probability
24% low · 60% high
1.62×/yr
Annual markup
2.04×/yr upside case
2.1 yr
Elapsed time used
2.1 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
3 mo
Avg between rounds
$16.0M/yr
Capital velocity
3.0 yr
On record since
2023
First round
5
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 2.1× above median
This company$15.2M
Sector median$7.2M
Latest round — vs other Series A rounds in sector (real $, this stage) 1.0× above median
This company$5.5M
Sector median$5.4M
Modeled value — vs sector median (estimate, all stages) 0.5× of median
This company$30.2M
Sector median$64.2M

Raised more than 64% of sector peers (real $). Modeled value above 35% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #197 of 303.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)GeoVax Labs, Inc. · Series A Raised $39.1M · modeled $217.0M (est)Cellinfinity Bio Holding Company, LLC · Series A Raised $13.2M · modeled $215.9M (est)Adient Medical, Inc. · Series A Raised $18.2M · modeled $206.8M (est)Entegrion Inc · Series A Raised $22.7M · modeled $191.3M (est)BCD Bioscience, Inc. · Series A Raised $16.4M · modeled $188.9M (est)Pragma Biosciences Inc. · Series A Raised $14.5M · modeled $186.0M (est)MicroByre, Inc. · Series A Raised $16.1M · modeled $185.7M (est)Cardiac Insight, Inc. · Series A Raised $38.1M · modeled $183.8M (est)Cardiac Implants LLC · Series A Raised $13.5M · modeled $178.2M (est)Abintus Bio, Inc. · Series A Raised $13.7M · modeled $177.2M (est)Mosaic Biosciences, Inc. · Series A Raised $14.7M · modeled $176.1M (est)Mazen Animal Health Inc. · Series A Raised $13.5M · modeled $168.8M (est)Calidi Biotherapeutics, Inc. (this company) Raised $15.2M · modeled $30.2M (est)Calidi Biotherapeutics, Inc.
CompanyStageRaised · realValue · estvs peer med.
GeoVax Labs, Inc.Series A$39.1M$217.0M4.90×
Cellinfinity Bio Holding Company, LLCSeries A$13.2M$215.9M4.87×
Adient Medical, Inc.Series A$18.2M$206.8M4.67×
Entegrion IncSeries A$22.7M$191.3M4.32×
BCD Bioscience, Inc.Series A$16.4M$188.9M4.27×
Pragma Biosciences Inc.Series A$14.5M$186.0M4.20×
MicroByre, Inc.Series A$16.1M$185.7M4.19×
Cardiac Insight, Inc.Series A$38.1M$183.8M4.15×
Cardiac Implants LLCSeries A$13.5M$178.2M4.02×
Abintus Bio, Inc.Series A$13.7M$177.2M4.00×
Mosaic Biosciences, Inc.Series A$14.7M$176.1M3.98×
Mazen Animal Health Inc.Series A$13.5M$168.8M3.81×
Calidi Biotherapeutics, Inc. this companySeries A$15.2M$30.2M0.68×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series A$5.0M2023-06-20$22.7M$43.2M90%
Series A$195K2023-11-01$886K$1.4M90%
Series A$1.0M2024-01-26$4.5M$6.5M90%
Series A$3.5M2024-03-08$15.9M$21.4M90%
Series A$5.5M2024-06-03$25.2M$30.2M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series A$5.0M2023-06-20
    • First recorded raise — entered as Series A.
    • 1 investor on this round.
  2. Series A$195K2023-11-01
    • Came back fast: 4 mo vs the ~14 mo sector norm.
    • Round 25.6× smaller than the prior — bridge or down round.
    • Switched to Rule 506(b) (was Rule 506(c)).
    • 1 investor on this round.
  3. Series A$1.0M2024-01-26
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 5.1× larger than the prior — scaling up.
    • 1 investor on this round.
  4. Series A$3.5M2024-03-08
    • Came back fast: 1 mo vs the ~14 mo sector norm.
    • Round 3.5× larger than the prior — scaling up.
    • 1 investor on this round.
  5. Series A$5.5M2024-06-03
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 1.6× larger than the prior — scaling up.
    • 9 investors on this round.
Intelligence
2024 ~Q3
Modeled next raise · ~3mo cadence
$8.8M
Modeled next size est.range $5.7M$14.1M
1.6×
Last step-up
$16.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Alan R. Stewart3 other2023-11
Andrew Jackson3 other2023-11
George Ng3 other2023-06
James A. Schoeneck2 other2023-11
Alfonso F. Zulueta2023-06
Allan Camaisa2023-06
Amish F. Patel2023-06
Anthony F. Santidrian2023-06
Boris Minev2023-06
David A. LaPre2023-11
David F. Sans2023-06
George R. Ng2023-11
Heehyoung F. Lee2023-06
James F. Schoeneck2023-06
Scott F. Leftwich2023-06
Scott R. Leftwich2023-11
Stephen Thesing2023-06
Tony Kalajian2023-06
Wendy Pizarro2023-06
Registry & provenance

Calidi Biotherapeutics, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1855485
SEC CIK
2021
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
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Amprion, Inc.BiotechnologySeries A$16.7M$27.5Msame sector · same stage
Addex Therapeutics Ltd.BiotechnologySeries A$13.9M$35.6Msame sector · same stage
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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
CalciMedica Subsidiary, Inc.BiotechnologySeries B$127.9M91%
Claris Biotherapeutics, Inc.BiotechnologySeries C$13.0M90%
Calysta, Inc.BiotechnologySeries C$1.9B89%
Caladrius Biosciences, Inc.BiotechnologySeries B$776.6M88%
Calviri IncBiotechnologySeries A$3.5M88%
Artiva Biotherapeutics, Inc.BiotechnologySeries D+$4.0B88%
Arcutis Biotherapeutics, Inc.BiotechnologySeries C$3.9B88%
Aleta Biotherapeutics, Inc.BiotechnologySeries A$306.4M87%
Frequently asked
How much funding has Calidi Biotherapeutics, Inc. raised?
Calidi Biotherapeutics, Inc. has raised approximately $15.2M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Calidi Biotherapeutics, Inc.'s estimated valuation?
Provath's modeled valuation for Calidi Biotherapeutics, Inc. is approximately $30.2M (modeled range $6.1M–$66.5M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Calidi Biotherapeutics, Inc. at?
Calidi Biotherapeutics, Inc.'s latest modeled financing stage is Series A. Its most recent recorded round closed around Mon Jun 03.
What does Calidi Biotherapeutics, Inc. do and where is it based?
Calidi Biotherapeutics, Inc. operates in the Biotechnology sector, based in SAN DIEGO.
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