HCW Biologics and WY Biotech Sign $3.5 Million License Agreement
HCW Biologics and WY Biotech 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. For additional consideration, the deal also includes an option to license the exclusive Greater China rights to clinical development and commercialization for in vivo applications of HCW9302, HCW Biologics' clinical-stage molecule currently being evaluated for the treatment of an autoimmune disorder. For this venture, WY Biotech and HCW Biologics formed a new operating entity, Beijing Trimmune Biotech, which is the licensee responsible for the development and commercialization of the licensed molecules. Trimmune is backed by the CITIC Medical Fund and TigerYeah Capital Fund of TigerMed. Today, Trimmune is initiating payment of half of the $3.5 million upfront cash license fee to HCW Biologics, with the remainder to be paid on or before March 6, 2026. The $3.5 million upfront license fee, combined with HCW Biologics' minority co-founder equity position in Trimmune, also currently valued at approximately $3.5 million, constitute consideration for the HCW11-006 license.
