Company: HCWB
Filing Date: 2025-04-16
Form Type: 424B3
Source: 0001193125-25-082835
Chunk: 5

Company: HCW Biologics Inc.
Filing Date: 2025-04-16
Form: 424B3
Chunk 5
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 lead product candidates represent a novel immunotherapeutic approach and a clinically promising new class of senotherapeutic
drugs for the treatment of age-related diseases.

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The Company has developed two different drug discovery and development platforms, our legacy TOBI ™(Tissue factOr-Based fusIon) platform and our newly developed targeted platform technology – the T-cellReceptor ß Chain constant region (“TRBC”) platform:

| • |     | The TOBI platform is designed to engineer multi-functional fusion protein molecules and protein complexes. It                                                                 
 employs a Tissue Factor (“TF”) scaffold that can be packaged with multiple protein targets, including cytokines, chemokines, ligands, receptors, and single-chain antibodies. |

| • |     | 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. Wong, 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” below. 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 TOBI TMdrug 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-lifeconditions. We have a large portfolio of non-coreprograms 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-