Company: HCWB
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000950170-25-046724
Chunk: 305

Company: HCW Biologics Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1B
Chunk 305
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 balance.  The table below shows the amount of maturities for each of the five years following the date of the latest balance sheet:   

        Cogent Bank Loan

        Maturities per Year

        2025
         
        $
        127,623

        2026

        135,266

        2027

        6,079,440

        Total Debt
         
        $
        6,342,329

        Senior Secured Notes

        Maturities per Year

        2026
         
        $
        9,252,700

        Total Debt
         
        $
        9,252,700

        Note that the total debt in the table above includes the full accretion of debt issuance costs for the Cogent Bank Loan and the full accretion of the fixed bonus payment for the Senior Secured Notes.  

7. License AgreementsWugen LicenseOn December 24, 2020, the Company entered into the Wugen License transferring rights to Wugen to develop, manufacture, and commercialize certain cellular therapy products based on two of the Company’s fusion protein molecules. The term of the agreement will expire on a product-by-product and country-by-country basis, upon the later of (i) ten years from the first commercial sale of the product or (ii) the expiration of the last-to-expire valid patent claim of such product.  The Company concluded that Wugen is a customer and the Wugen License is a functional license under the provisions of Topic 606.    WY Biotech LicenseOn November 17, 2024, the Company entered into the WY Biotech License transferring rights to WY Biotech to develop and commercialize a preclinical molecule constructed with the Company’s T-cell Receptor β Chain constant region (“TRBC”) drug discovery and development platform.  The term of the agreement with expire on the date on which all obligations under this Agreement between the parties with respect to the payment of milestones or royalties with respect to licensed products have passed or expired.  On March 17, 2025, the parties agreed to the principal terms of an amendment to the terms of the WY Biotech License.  The Company concluded that WY Biotech is a customer and the WY Biotech License, as amended, is a functional license under the provisions of Topic 606.  

115

Opt-In Right for WY Biotech LicenseUnder the