MIRAMAR, Fla. – HCW Biologics Inc. (NASDAQ: HCWB), a biopharmaceutical company specializing in immunotherapy treatments, has entered into a licensing and co-development agreement with Shanghai-based WY Biotech Co., Ltd. The partnership focuses on a preclinical molecule from HCW Biologics’ portfolio for therapeutic use worldwide.
Under the terms of the agreement, HCW Biologics will receive an upfront payment of $7 million from WY Biotech. Additional financial benefits for HCW Biologics include potential milestone payments and double-digit royalties on future sales of the product. Furthermore, HCW Biologics retains the option to recapture development and commercialization rights in various territories in the Americas after Phase 1 clinical trials are completed.
WY Biotech will bear all costs related to the molecule’s research, development, manufacturing, and commercialization. If HCW Biologics chooses to exercise its opt-in rights, it will assume responsibility for these costs within the specified territories.
Dr. Hing C. Wong, Founder and CEO of HCW Biologics, expressed enthusiasm for the collaboration, highlighting the potential of the molecule, which has shown promising preclinical results in inducing immune responses against tumors without adverse side effects.
HCW Biologics aims to disrupt the connection between chronic inflammation and age-related diseases through its immunotherapies. The company has developed a range of molecules designed to stimulate immune cells and engage in the treatment of various conditions, including cancer and diseases associated with aging.
The company’s partnership with WY Biotech is part of its strategic focus to establish commercialization partnerships and leverage its proprietary drug discovery platforms. HCW Biologics has two drug discovery platforms, TOBI™ and a second platform with a unique protein-based backbone, each producing distinct fusion molecules for therapeutic applications.
The agreement is based on a press release statement from HCW Biologics and is subject to the risks and uncertainties common in the pharmaceutical industry, as outlined in the company’s filings with the SEC.
The financial terms of the agreement reflect HCW Biologics’ potential to expand its reach in the immunotherapy market and WY Biotech’s commitment to advancing innovative treatments in the field of recombinant protein drugs and gene/cell therapies.
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