---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-049953"
form_type: "8-K"
ticker: "HCWB"
cik: "0001828673"
company_name: "HCW Biologics Inc."
filed_at: "2026-02-13T23:59:59+00:00"
generated_at: "2026-05-16T02:49:01.086027+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-26-049953
- form_type: 8-K
- ticker: HCWB
- cik: 0001828673
- company_name: HCW Biologics Inc.
- filed_at: 2026-02-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1828673/000119312526049953/0001193125-26-049953-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1828673/000119312526049953/hcwb-20260212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-049953
- JSON: https://secwatch.observer/filing/0001193125-26-049953.json
- Plain text: https://secwatch.observer/filing/0001193125-26-049953.txt

## Key facts
- Material Agreements
  HCW Biologics Inc. entered into a license with WY Biotech Co., Ltd. (effective 2026-02-13).
  - Action: entry
  - Agreement: license
  - Counterparty: WY Biotech Co., Ltd.
  - Effective: 2026-02-13
  source text: On February 13, 2026, HCW Biologics Inc. and WY Biotech Co., Ltd. (“WY Biotech”), a China-based company specializing in the early-stage development of recombinant protein drugs and gene/cell therapies, today jointly announced the commencement of an exclusive worldwide license agreement covering the development and commercialization rights for certain in vivo applications for one of HCW Biologics’ proprietary molecules, HCW11-006.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1828673/000119312526049953/0001193125-26-049953-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.