HCW Biologics forms JV Trimmune with WY Biotech; receives $3.5M upfront plus equity worth $3.5M

HCW Biologics Inc.

Exclusive worldwide license for HCW11-006 in vivo applications; option for Greater China rights to HCW9302.
Upfront cash fee of $3.5M ($1.75M paid now, remainder due by March 6, 2026) plus co-founder equity valued at ~$3.5M.
Eligible for development milestone payments, double-digit royalties, and share of future transaction proceeds.
HCW Biologics retains royalty-free option to reclaim Americas rights after Phase 1; Phase 1 trial expected H1 2027.
JV Trimmune backed by CITIC Medical Fund and TigerMed; expenses for Phase 1 in China paid by Trimmune.

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