Denver, Colorado - HCW Biologics (NASDAQ:HCWB) finalized an exclusive worldwide licensing agreement for its fusion immunotherapeutic candidate HCW11-006, marking a meaningful step in expanding its global development strategy.
The deal, signed with Beijing Trimmune Biotech, carries a total upfront value of $7 million. This includes $3.5 million in cash and an additional $3.5 million in equity in Trimmune, giving HCW Biologics a minority ownership stake in the newly formed company.
Trimmune was established through a partnership between HCW Biologics and WY Biotech Co., Ltd., and is backed by major healthcare investors including CITIC Medical Fund and TigerYeah Capital Fund. The company will lead development and commercialization of HCW11-006 in China, with a Phase 1 clinical trial expected to begin in the first half of 2027.
Beyond the upfront payment, HCW Biologics stands to receive milestone payments, double-digit royalties on future sales, and a share of proceeds from potential future transactions involving the therapy. Importantly, the agreement includes a strategic safeguard: HCW Biologics retains a no-cost option to reclaim rights to HCW11-006 across the Americas following completion of the China Phase 1 trial.
Trimmune will fully fund the upcoming clinical study, reducing near-term financial burden for HCW Biologics while preserving long-term upside. The deal also grants Trimmune an option to license regional China rights to HCW Biologics’ other clinical-stage candidate, HCW9302, potentially unlocking additional payments.
Overall, the agreement positions HCW Biologics to advance its fusion immunotherapy platform internationally while maintaining flexibility in key markets.