HCW Biologics amends license deal with WY Biotech; delays $4M upfront payment, adds June 2025 termination option

HCW Biologics Inc.

Amended License, Research and Co-Development Agreement dated November 17, 2024, due to CDMO delay.
Restructured $7.0M upfront license fee; initial $4.0M portion originally due March 17, 2025, delayed.
Performance milestones for earning full $7.0M nonrefundable upfront payment reduced; deadline June 2025.
Either party may terminate if WY Biotech cannot definitively engage its CDMO by June 2025.
No other material changes; HCW retains Opt-In Right for Americas.

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