Company: HCWB
Filing Date: 2025-06-04
Form Type: 8-K
Source: 0000950170-25-081404
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Company: HCW Biologics Inc.
Filing Date: 2025-06-04
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

As disclosed in the Form 8-K filed on March 19, 2025, HCW Biologics Inc. (the “ Company”) and WY Biotech Co., Ltd. (“ WY Biotech”) agreed on the principal terms for an amendment to the WY Biotech License Agreement, an exclusive worldwide license agreement with WY Biotech for the rights to develop and commercialize one of HCWB’s preclinical product candidates, HCW11-006, for in vivo applications (the “ Agreement”). As required under the amended terms, the Company completed its performance obligation to deliver a technology transfer report including the characterization of the cell line on May 13, 2025. On May 29, 2025, WY Biotech notified the Company that it completed its due diligence to study this report and elected to continue with the Agreement. As a result, WY Biotech is financially obligated to the Company, as detailed in the Agreement, as amended, including the obligation to pay a $7.0 million in upfront licensing fee. The foregoing summary of certain terms of the Agreement and the referenced amendment does not purport to be complete.