HCW Biologics Inc. Enters Material Definitive Agreement

TL;DR

HCW Biologics inked a big deal on Nov 18, 2024 - expect financial moves.

AI Summary

On November 18, 2024, HCW Biologics Inc. entered into a material definitive agreement and created a direct financial obligation. The specific details of this agreement and obligation are not fully disclosed in the provided excerpt, but it constitutes a significant event for the company.

Why It Matters

This filing indicates a significant new financial commitment or partnership for HCW Biologics Inc., which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce new risks related to performance, funding, and market conditions.

Key Players & Entities

• HCW Biologics Inc. (company) — Registrant
• November 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share HCWB The Nasdaq Stock Mar
• $7.0 m — Company will receive an upfront fee of $7.0 million, to be paid in two tranches. With
• $4.0 million — ired, the Licensee will pay the Company $4.0 million; and within 30 days of completing the t
• $3.0 million — the Licensee, the Company will receive $3.0 million. All payments under the License Agreeme

Filing Documents

• hcwb-20241118.htm (8-K) — 40KB
• 0000950170-24-127767.txt ( ) — 156KB
• hcwb-20241118.xsd (EX-101.SCH) — 25KB
• hcwb-20241118_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 17, 2024, HCW Biologics Inc. (the "Company") entered into an exclusive, worldwide License, Research, and Co-Development Agreement (the "License Agreement") with WY Biotech Co., Ltd. (the "Licensee") for one of the Company's preclinical, proprietary molecules (the "Licensed Molecule"). Under the terms of the License Agreement, the Company will receive an upfront fee of $7.0 million, to be paid in two tranches. Within 90 days after the effective date of the License Agreement, which may be extended by an additional 30 days, if required, the Licensee will pay the Company $4.0 million; and within 30 days of completing the technology transfer to the Licensee, the Company will receive $3.0 million. All payments under the License Agreement will be made in U.S. Dollars. Upon the completion of a Phase 1 clinical trial in any jurisdiction, the Company has an "Opt-In Right," which gives the Company the option to assume all control and responsibility for the development, manufacture and commercialization of the Licensed Molecule in the Opt-In Territory. The "Opt-In Territory" is North America, South America, and Central America. Upon the completion of the exercise of the Opt-In Right, the Company will be responsible for all costs associated with research and development, manufacturing, clinical development, regulatory approval, and commercialization for the Licensed Molecule in the Opt-In Territory. The Licensee will pay the Company milestone payments as the Licensed Molecule advances through clinical trials and the first marketing approval is granted for the first territory in which the Licensee retains exclusive rights. Upon commercialization, the Company will receive double-digit royalties on a product-by-product basis in each jurisdiction in which the Licensee retains exclusive rights, subject to adjustment in the event the Company exercises the Opt-In Right. In addition, the Company will share a substan

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HCW BIOLOGICS INC. Date: November 18, 2024 By: /s/ Hing C. Wong Hing C. Wong Founder and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR