Company: HCWB
Filing Date: 2025-04-28
Form Type: DRS
Source: 0000950123-25-003769
Chunk: 9

Company: HCW Biologics Inc.
Filing Date: 2025-04-28
Form: DRS
Chunk 9
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 | The Company invented its second-generation platform, the TRBC platform, to create novel immunotherapeutics                                                                                                                                         
 designed to treat diseases, including cancer, as well as improve quality-of-life conditions. The immunotherapeutics created using the TRBC platform include multi-specific cytokines, targeted second-generation immune checkpoint inhibitors, and 
 immune-cell engagers, which have the capabilities to activate subsets of immune cells that specifically target cancerous or infected cells.                                                                                                        |

As of July 13, 2024, the Company, Dr. Hing C. Wong (the Company’s CEO), Altor BioScience, LLC, NantCell, Inc. and ImmunityBio, Inc. (collectively, Altor BioScience, LLC, NantCell, Inc. and ImmunityBio Inc. will be referred to herein as “ImmunityBio”), entered into a Settlement Agreement that is described in Part I, Item 3. – “Legal Proceedings” of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025. The Settlement Agreement eliminated the uncertainty of the outcome of the previously disclosed Arbitration proceedings and provided clarity for the future direction and emphasis of our clinical development strategy. The settlement involved intellectual property the Company developed based on our proprietary TOBITM drug discovery platform and its unique Tissue-Factor scaffold used to create protein-fusion molecules. Our clinical development program is based on a few select lead product candidates which will be evaluated in Company-sponsored clinical trials in autoimmune disorders, solid tumors and quality-of-life conditions. We have a large portfolio of non-core programs and assets and, for these, we anticipate that clinical development will be conducted through licensing agreements and other business development transactions. HCWB has an experienced team led by Dr. Hing C. Wong, our Founder and CEO, who discovered and developed the immunotherapeutic — Anktiva ®(also known as ALT-803, an IL-15 agonist receptor) through pivotal trials. This blockbuster immunotherapeutic product for cancer was sold to ImmunityBio, Inc. in 2017 in a $1.0 billion acquisition. Anktiva ®was approved by the U.S. Food and Drug Administration (“FDA”) for a bladder cancer indication in 2024. Reverse Split of Our Common Stock On March 31, 2025, at a Special Meeting of the Stockholders, the stockholders of the Company approved a reverse stock split of all outstanding shares of the Common