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HCW Biologics Inc. (NASDAQ:HCWB) announced Monday that it has entered into an Amended and Restated License, Research and Co-Development Agreement with Beijing Trimmune Biotech Co., Ltd. The agreement follows the assignment of the original license for HCW11-006, a molecule for in vivo applications, from WY Biotech Co., Ltd. to Trimmune.
Under the new terms, HCW Biologics will receive half of a $7.0 million upfront license fee ($3.5 million) in cash at closing, with the remaining half to be paid in transferable equity in Trimmune, valued according to Trimmune’s current equity financing round. The agreement also provides HCW Biologics with an option to license another molecule, HCW9302, for in vivo applications in China or Asia.
The parties have set a 90-day period from the execution of the agreement to close the transaction. If the deal does not close by January 16, 2026, all intellectual property and rights related to HCW11-006 will revert to HCW Biologics.
According to the agreement, Trimmune is financially responsible for all research and development, manufacturing, clinical development, regulatory approval, and commercialization costs for the molecule in its designated territory. HCW Biologics retains a payment-free, milestone-free, and royalty-free option to recapture all rights for development and commercialization of HCW11-006 for in vivo applications in the United States, Canada, Central America, and South America after the conclusion of the Phase 1 clinical trial.
This information is based on a statement in a press release filed with the Securities and Exchange Commission.
In other recent news, HCW Biologics Inc. announced the dosing of the first patient in its Phase 1 clinical trial for HCW9302, a treatment for alopecia areata, at The Ohio State University Wexner Medical Center. The company has also been granted an extension by the Nasdaq Hearings Panel to regain compliance with the exchange’s continued listing requirements, following a hearing on September 25, 2025. Additionally, HCW Biologics reported ongoing discussions with WY Biotech regarding potential changes to their license agreement, as WY Biotech has not yet met the amended deadline for a $7 million upfront license fee. In a separate development, HCW Biologics announced a breakthrough in cancer immunotherapy, with a second-generation immune checkpoint inhibitor showing superior performance against solid tumors in preclinical studies. Meanwhile, Wugen, Inc., another biotechnology company, secured $115 million in equity financing led by Fidelity Management & Research Company. This funding round also saw participation from several other investment firms. These recent developments highlight ongoing advancements and financial activities within the biotechnology sector.
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