# EDGAR Filing Document

**Accession Number:** 0001828673
**File Stem:** 0001493152-26-019699
**Filing Date:** 2026-4
**Character Count:** 37172
**Document Hash:** e4ab4faf6029acb65f069e5a396ef652
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-019699.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001493152-26-019699

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HCW Biologics Inc.
- **CENTRAL INDEX KEY:** 0001828673
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 825024477
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40591
- **FILM NUMBER:** 26919475

**BUSINESS ADDRESS:**
- **STREET 1:** 2929 N COMMERCE PKWY
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33025
- **BUSINESS PHONE:** 954-842-2024

**MAIL ADDRESS:**
- **STREET 1:** 2929 N COMMERCE PKWY
- **CITY:** MIRAMAR
- **STATE:** FL
- **ZIP:** 33025

?xml version='1.0' encoding='ASCII'?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION** **WASHINGTON, D.C. 20549**

------

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): April 29, 2026**

**HCW Biologics Inc.**

**(Exact name of Registrant as Specified in Its Charter)**

------

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-40591** | **82-5024477** |
| **(State or Other Jurisdiction<br> of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br> Identification No.)** |

---

---

| | |
|:---|:---|
| **2929 N. Commerce Parkway <br> Miramar, Florida** | **33025** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code: 954 842-2024**

**(Former Name or Former Address, if Changed Since Last Report)**

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<br> Title of each class** | **Trading Symbol(s)** | **<br> Name of each exchange on which registered** |
| Common Stock, par value $0.0001 per share | HCWB | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

**Item 8.01 Other Events.**

On April 25, 2026, HCW Biologics Inc. ("HCW Biologics" or the "Company") determined that it would enter into a consulting agreement with I.R. Agency LLC (the "Marketing Consultant") in which the Company will agree to engage the Market Consultant for future marketing efforts to be determined by management of the Company in its discretion, to communicate information about the Company to the financial community, in exchange for fees of $2.5 million. The agreement is contingent upon the closing of a public offering of the Company's securities pursuant to a Registration Statement on Form S-1 (File Number 333-295280) filed on April 23, 2026 and amended on April 24, 2026 (such financing the "Public Offering" and the closing of such financing, the "Financing Close"). The agreement is expected to commence on or about May 1, 2026, after the Financing Close. Under the terms of the agreement, assuming it is delivered and countersigned by the Marketing Consultant, the Company will pay the Marketing Consultant $2.5 million from the proceeds of the Public Offering.

Additionally, on April 25, 2026, the Company determined that it would enter into a consulting agreement with Bowery Consulting Group (the "Financial Consultant") in which the Company will agree to engage the Financial Consultant for future consulting services during a six-month term for a consulting fee of $500,000. The agreement is contingent upon the Financing Close. The agreement is expected to commence on or about May 1, 2026, after the Financing Close. Under the terms of the agreement, assuming that it is delivered and countersigned by the Financial Consultant, the Company will pay the Financial Consultant $500,000 from the proceeds of the Public Offering.

The foregoing descriptions of the Consulting Agreement with the Marketing Consultant and the Consulting Agreement with the Financial Consultant (together, the "Consulting Agreements") do not purport to be complete and are qualified in their entirety by reference to the full text of the Consulting Agreements, copies of which are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

This Current Report on Form 8-K does not constitute an offer to sell any securities or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Consulting Agreement, dated April 25, 2026, between the Company and I.R. Agency LLC](ex10-1.htm) |
| 10.2 | [Consulting Agreement, dated April 25, 2026, between the Company and Bowery Consulting Group](ex10-2.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | **HCW BIOLOGICS INC.** |
| Date: | April 29, 2026 | By: | /s/ Hing C. Wong |
|  |  |  | Hing C. Wong |
|  |  |  | Founder and Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>CONSULTING AGREEMENT</u>**

IR Agency LLC (the "Consultant" or "IR Agency") is pleased to provide certain consulting services to HCW Biologics Inc ("you," "Client" or "Company") as more fully described in this agreement (the "Agreement"). This Agreement sets forth the terms and conditions pursuant to which Company engages Consultant to provide such services.

1. **Consulting Services.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This
 Consulting Agreement is contingent upon the closing of a financing under the Company's
 S-1 filed on April 23, 2026 and expected to close the week of April 30, 2026 ("Financing
 Close"). Commencing on 5/01/2026 and after the Financing Close, Consultant will provide
 marketing and advertising services ("Advertising" or "Services")
 to communicate information about the Company (trading symbol: HCWB to the financial community
 including, but not limited to, creating company profiles and media distribution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Consultant
 does not make any representation about and assumes no responsibility for the response by
 the market, if any, to the public release of Advertising for the Company. For avoidance of
 doubt, Client acknowledges that Consultant assumes no responsibility for and does not make
 any representation, guarantee or promise that in response to the public release of Advertising
 for the Company, the trading volume will increase or the trading price of **HCWB** will
 rise, or in the event of a increase in trading volume or rise in price, the amount or duration
 of any such increase in trading volume or rise in price

(c) Client
 acknowledges that Consultant carries no professional licenses. Consultant will not participate
 in discussions or negotiations with potential investors. Consultant will not solicit orders,
 make recommendations or give investment advice. Consultant will not effect transactions of
 securities for potential investors or anyone else. Consultant and Client agree that Consultant
 is not being engaged for, and is not permitted to engage in, activities that would give rise
 to Consultant being required to register federally or in any state or other jurisdiction
 as a broker or an investment advisor. If a financial intermediary expresses interest in the
 Company to Consultant, Consultant will refer the intermediary to the Company. In providing
 services under the Agreement, Consultant agrees to comply in all materials respects with
 all applicable U.S. securities laws. Client acknowledges and agrees that (a) it and its affiliates
 each have relied and will continue to rely on the advice of its own legal, regulatory, and
 securities law advisors for all matters and (b) neither Client nor any of its affiliates
 has received, or has relied upon, the advice of Consultant or any of its affiliates or their
 counsel regarding legal, regulatory, or securities law matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The
 Services of Consultant shall not be exclusive to Client, and Client acknowledges that Consultant
 will be performing similar Services for other clients and Consultant shall be free to perform
 Services for such other persons.

2. **Independent Contractor.** Client and Consultant agree that Consultant shall perform its duties under
 this Agreement as an independent contractor. Nothing contained herein shall be considered
 as creating a relationship of agent-principal, employer-employee or joint venturers between
 Consultant and either Client.

**3.** **Compensation.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As
 consideration for the performance of the Services hereunder, and subject to the Finance Close,
 upon the date of Finance Close, the execution and delivery of this Agreement, Client shall
 pay to Consultant the sum of Two Million Five Hundred Thousand Dollars ($2,500,000) by
 4/30/2026 in cash via Bank Wire Transfer for providing the Services over a 12 individual
 Marketing day's of News Distribution Campaigns during a maximum of 60 day term starting
 on 5/1//2026 to 7/1/2026All fees are fully earned upon receipt and are strictly non-refundable
 under any circumstances, including termination, dissatisfaction, or results. Client waives
 any right to refund, offset, or chargeback.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless
 otherwise provided in this Agreement, all other services, including out-of-scope assignments,
 rendered by Consultant shall be subject to additional compensation under a separate agreement
 between Consultant and Company. Consultant shall be responsible for all out-of-pocket expenses
 incurred or paid in connection with its performance of the Services hereunder.

**4.** **Term and Termination.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 term of this Agreement shall commence on the start date and continue for a period of for
 12 Individual Days of Marketing Distribution News Campaigns (the "Term") unless
 otherwise extended by mutual agreement of the parties (the "Extended Term").
 This Agreement may be terminated, with or without cause, by either Client or Consultant at
 any time by written notice to the other Party. If the Agreement is terminated by Client during
 the Term for any reason, Client will not be entitled to return of any of the compensation.
 If Client files for bankruptcy, becomes insolvent or is in material breach of this Agreement
 ("Cause"), Consultant may terminate the Agreement and Client will not be entitled
 to the return of any of the compensation. Consultant may immediately suspend or terminate
 Services if it believes continued performance may expose it to legal, regulatory, or reputational
 risk. No refund shall be owed in such event.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In
 the event Client elects to purchase and Consultant agrees to supply additional Services during
 the Term or the Extended Term of this Agreement, the terms and condition of this Agreement
 will apply to such additional Services.

**5.** **Information.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In
 connection with Consultant's performance of its Services, Consultant will rely on Company's
 press releases and Company's most recent reports, if any, filed with the Securities
 and Exchange Commission (collectively, the "Company Information"). In this regard,
 Company agrees to make all filings required by the exchange act and all other applicable
 laws, in each case on a timely basis in accordance with such laws. Client hereby grants to
 Consultant the right to use the name and service marks of Company in its Services. Company

 its Services be submitted to Company for its review and approval, such approval not to be
 unreasonably withheld, conditioned or delayed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Client
 hereby acknowledges and agrees that, in performing its Services hereunder, Consultant will
 be using and relying on the Company Information without independent verification thereof.
 Consultant will also be under no obligation to determine whether there have been, or to investigate
 any changes in, such information. Consultant will be entitled to submit any materials created
 by Consultant to Company for its review and approval, such approval not to be unreasonably
 withheld, conditioned, or delayed. Client represents and warrants that that the Company Information
 and all information provided by Company or its affiliate or representatives to Consultant
 shall, at the time provided, not contain any untrue statement or material fact or omit to
 state a material fact necessary in order to make the statement made, in light of the circumstances
 under which they were made, not misleading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Client,
 by its authorization or approval of the Advertisement, represents and warrants to Consultant
 that, to its knowledge, the Advertisement is complete and correct in all material respects
 and does not contain any untrue statement of a material fact or omit to state a material
 fact necessary to make the statements therein not misleading. Client agrees to promptly notify
 Consultant upon the occurrence of any material adverse change in the business or affairs
 of the Company or upon the occurrence of any event which causes Client to believe that the
 Advertisement contains any untrue statement of a material fact or omits to state a material
 fact necessary to make the statements therein not misleading.

(d) Client
 acknowledges that Services are promotional in nature. Consultant makes no guarantees regarding
 trading volume, stock price, investor interest, or financial outcomes. All market risk is
 borne solely by Client.

(e) **Paid Promotion Disclosure (SEC 17(b))** Consultant may include disclosures required by securities
 laws, including compensation disclosure. Client agrees not to restrict or alter such disclosures.

6. **Securities Laws.** Client represents and warrants that the Company Information and all information
 provided by Company or its affiliates or representatives complies in all respects with the
 U.S. federal and applicable state securities laws, and are not and will not be or constitute
 a part of any activity that is or may be deemed to be illegal under the U.S. federal or applicable
 state securities laws, including, without limitation, being a part of any illegal offering,
 illegal pump-and-dump, illegal scalping, illegal touting schemes, or an effort to assist
 with a violation of any court order including, but not limited to, any order banning or limiting
 a person's involvement in the securities markets.

7. **Work Product.** All information and materials produced for Client shall be the property of Consultant,
 free and clear of all claims thereto by Client, and Client shall have no claim of authorship
 therein. Consultant shall retain all right, title, and interest in and to, including any
 intellectual property rights with respect to, any data, designs, processes, specifications,
 software, applications, course, code, object code, utilities, methodologies, know-how, materials,
 information and skills (and any derivative works, modifications and enhancements thereto)
 owned, acquired or developed by or for Consultant's databases.

8. **Confidentiality.** The parties agree to hold each other's Proprietary or Confidential Information in strict
 confidence. "Proprietary or Confidential Information" shall include, but is not
 limited to, written or oral contracts, trade secrets, know-how, business methods, business
 policies, memoranda, reports, records, computer retained information, notes, or financial
 information. Proprietary or Confidential Information shall not include any information which:
 (i) is or becomes generally known to the public by any means other than a breach of the obligations
 of the receiving party; (ii) was previously known to the receiving party or rightly received
 by the receiving party from a third party; (iii) is independently developed by the receiving
 party; or (iv) is subject to disclosure under court order or other lawful process. The parties
 agree not to make each other's Proprietary or Confidential Information available in
 any form to any third party or to use each other's Proprietary or Confidential Information
 for any purpose other than as specified in this Agreement. Each party's Proprietary
 or Confidential Information shall remain the sole and exclusive property of that party. The
 parties agree that in the event of use or disclosure by the other party other than as specifically
 provided for in this Agreement, the non-disclosing party may be entitled to equitable relief.
 Notwithstanding termination or expiration of this Agreement, the parties acknowledge and
 agree that their obligations of confidentiality with respect to Proprietary or Confidential
 Information shall continue in effect for a total period of three (3) years from the termination
 date.

9. **Non** - **Public Material Information.** Consultant acknowledges that to prepare appropriate Advertising
 in a timely manner it may be made aware of price sensitive or confidential information that
 has not been publicly disclosed yet. Consultant confirms that it is fully aware of its obligations
 in relation to such information and will ensure that the confidentiality of such information
 is maintained at all times and that it, and its employees and contractors, are all fully
 aware of and comply with, all appropriate securities laws and regulations in relation to
 insider trading and related matters.

10. **Covenant Not to Sue.** Client agrees that it will not file any suit, claim, proceeding or complaint
 against Consultant arising out of or based on the failure of the trading volume of the stock
 to increase or price to rise, or to maintain any increase in trading volume or rise in stock
 price as may be occur, as a result of or in response to the public release of Advertising
 for the Company or Consultant's provision of services under this Agreement.

11. **Limitation of Liability.** Consultant shall not be liable to Client or any other person for any damages
 in connection with the provision of services under the Agreement, whether because of Consultant's
 negligence or otherwise, and regardless of the form of action, except in the event of Consultant's
 deliberate fault or gross negligence. Nevertheless, regardless of the form of action, whether
 in contract, tort or otherwise, Consultant shall not be liable to Client for any lost profits,
 business interruption, or for any indirect, incidental, special, consequential, exemplary
 or punitive damages arising out of or relating to this Agreement, nor shall Consultant's
 aggregate liability for any damages arising out of this Agreement exceed the compensation
 paid by Client to Consultant.

12. **Indemnification.** Client shall indemnify and hold Consultant harmless from and against any and all actions,
 claims, investigations (including but not limited to any formal or informal investigations
 brought by any state or federal regulator and any subpoenas or requests for documents, information
 or testimony issued in connection therewith), liabilities, losses, or damages arising from
 the preparation, presentation or dissemination of any Advertising covered by this Agreement
 including, but limited to, the costs of defense and attorneys' fees. You will also
 indemnify Consultant from and against all losses, expenses (including costs and attorneys'
 fees) and all manner of actions, claims and judgments sustained by or made against Consultant
 in connection with your use or misuse of the Service, any medium used with the Service, violation
 of this Agreement, or based upon any alleged violation of any statute, ordinance, code, or
 regulation.

13. **Notices.** Any notice or other communication required or permitted to be given to either party hereunder
 shall be in writing and shall be given to such party at such party's address set forth
 below or such other address as such party may hereafter specify by notice in writing to the
 other party. Any such notice or other communication shall be addressed as aforesaid and given
 by (a) certified mail, return receipt requested, with first class postage prepaid, (b) hand
 delivery, or (c) via electronic communication (i.e., e-mail) or (d) reputable overnight courier.
 Any notice or other communication will be deemed to have been duly given (i) on the fifth
 (5) day after mailing, provided receipt of delivery is confirmed, if mailed by certified
 mail, return receipt requested, with first class postage prepaid, (ii) on the date of Service
 if served personally or (iii) on the business day after delivery to an overnight courier
 service or by sending of an electronic communication, provided the notifying party specifies
 next day delivery and receipt of delivery has been confirmed:

If to the Client:<br> HCW Biologics Inc.

2929 N Commerce Parkway

Miramar, FL 33025

Email: HingWong@HCWBiologics.com

If to Consultant:<br> IR Agency LLC<br> 23 Downing Street, Newark NJ 07105

E-mail: Raf@ir.agency

14. **Waiver of Breach.** Any waiver by either party of a breach of any provision of this Agreement
 by the other party shall not operate or be construed as a waiver of any subsequent breach
 by any party.

15. **Assignment.** Neither this Agreement nor any of the rights, interests or obligations hereunder may be assigned
 by either party hereto without the prior written consent of the other party, which will not
 be delayed or withheld unreasonably; provided that Client shall not be required to consent
 to any assignment by Consultant of its cash and compensation payable pursuant to this Agreement.
 Any assignment without such consent, when required, shall have no legal validity; subject
 to the foregoing, this Agreement and all of the provisions hereof will be binding upon and
 inure to the benefit of the parties to this Agreement and their respective successors and
 permitted assigns.

16. **Governing Law and Jurisdiction.** All disputes shall be resolved by binding arbitration administered
 by the AAA in New Jersey. The parties waive any right to trial by jury and agree no class
 actions may be brought.

17. **Entire Agreement.** This Agreement contains the complete agreement between the parties with respect
 to the subject matter hereof and supersedes any prior proposals, understandings, agreements
 or representations by or between the parties, written or oral. Client acknowledges it has
 not relied on any statements or representations outside of this Agreement.

18. **Severability.** Whenever possible, each provision of this Agreement will be interpreted in such manner as
 to be effective and valid under applicable law, but if any provision of this Agreement is
 held by any court of competent jurisdiction to be prohibited by or invalid under applicable
 law, such provision will be ineffective only to the extent of such prohibition or invalidity,
 without invalidating the remainder of such provision or the remaining provisions of this
 Agreement.

19. **Waiver and Modification.** Any waiver, alteration, or modification of any of the provisions of
 this Agreement shall be valid only if made in writing through an amendment of this Agreement
 and signed by the parties hereto.

20. **Acceptance.** Please confirm that the foregoing is in accordance with Company's understanding by
 signing and returning this Agreement, which will thereupon constitute a binding Agreement
 between the Company and IR Agency, LLC as of the date of your execution. The undersigned
 officers of IR Agency, LLC and Company represent that they have the authority to bind IR
 Agency and Company, respectively. This Agreement may be executed in counterparts and with
 electronic or facsimile signatures.

By: IR Agency LLC<br>

/s/ Rafael Pereira

Print Name: Rafael Pereira

Position:

Date: April 25, 2026

By: Hing C. Wong

Print Name: Hing C. Wong, HCW Biologics Inc

Position: CEO and Founder

Date: April 25, 2026

[\*\*\* remove wire information]

## Exhibit 10.2

**Exhibit 10.2**

**<u>CONSULTING SERVICES AGREEMENT</u>**

**<u>THIS AGREEMENT DATED AS OF April 24, 2026</u>**

**BETWEEN:**

**HCW Biologics Inc.**

A Delaware corporation headquartered in Miramar, Florida

(hereinafter referred to as the "Firm")

-and-

**Bowery Consulting Group Inc.**

A corporation registered in the State of Florida

(hereinafter referred to as the "Consultant")

**A.** **RECITALS** 

WHEREAS the Firm carries on business as company in the biotechnology sector (the "Business");

AND WHEREAS the Firm is desirous of retaining the Consultant to provide consulting services in connection with the Business of the Firm and the Consultant has represented to the Firm that he has expertise and experience in or related to the Business;

AND WHEREAS the Consultant is ready, willing and able to provide consulting services in connection with the Business and the Firm wishes to engage the Consultant to provide such services upon the terms and conditions hereinafter set out.

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and all other good and valuable consideration and the mutual covenants herein contained, the parties hereto and hereby covenant and agree as follows:

**B.** **INTERPRETATION** 

1. For
 all purposes of this Agreement, except as otherwise expressly provided or unless the context
 otherwise requires:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) this
 "Agreement" means this Consulting Services Agreement and from time to time supplemented
 or amended by one or more agreements entered into pursuant to the applicable provisions hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) the
 words "herein", "hereof" and "hereunder" and other words
 of similar import refer to this Agreement as a whole and not to any particular paragraph,
 subparagraph or other subdivision;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) the
 headings are for convenience only and do not form a part of this Agreement nor are they intended
 to interpret, define or limit the scope, extent or intent of this Agreement or any portion
 hereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) a
 reference to a statute includes all regulations made pursuant thereto, all amendments to
 such statute or regulations enforced from time to time and any statute or regulations which
 supplement or supersede such statute or regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) the
 recitals and all schedules attached hereto are specifically made a part of this Agreement,
 except that in the event of any inconsistency between the provisions of the body of this
 Agreement and any Schedule hereto, the provisions in the body of this Agreement shall prevail.

2. This
 Agreement shall be governed by and construed in accordance with the laws of the State of
 Florida.

3. Unless
 otherwise indicated, all dollar amounts referred to in this Agreement are in U.S. funds.

4. The
 terms, conditions, covenants, agreements, obligations and provisos contained in this Agreement
 shall be binding upon and shall inure to the benefit of the parties hereto and upon their
 respective heirs, executors, administrators, personal representatives, successors and, if
 permitted, assigns, as the case may be.

5. Time
 shall be of the essence hereof.

6. This
 Agreement may be executed in several parts in the same form and the several parts executed
 shall together constitute one agreement.

7. There
 are no representations, warranties, conditions, terms or collateral contracts affecting the
 engagement of the Consultant contemplated in this Agreement except as set out in this Agreement.

8. If
 any provision or part of any provision of this Agreement is void for any reason, it shall
 be severed from the Agreement without affecting the validity of the balance of the Agreement.

**C.** **ENGAGEMENT AND RETAINER** 

1. The
 Firm hereby agrees to retain the Consultant to provide consulting services during the Term
 of this Agreement (as hereinafter defined) upon and subject to the terms and conditions set
 out and the Consultant hereby accepts the mandate upon such terms and conditions.

2. This
 Consulting Services Agreement is contingent upon the closing of a financing under the Firm's
 S-1 filed on April 23, 2026 and expected to close the week of April 27, 2026 ("Financing
 Close"). The "Term of this Agreement" as used herein shall mean for a period
 of six months after the Financing Close, and expected to begin on May 1st, 2026 (or as soon
 as possible thereafter).

3. It
 is acknowledged by the parties hereto that the Firm is retaining the Consultant in the capacity
 of independent contractor and not as an employee of the Firm. The Consultant and the Firm
 acknowledge and agree that this Agreement does not create a partnership or joint venture
 between them.

4. The
 Consultant shall periodically provide business consulting services to the Firm and its clients,
 which shall include:

● Meet with management to examine current activities and proposed plans, identify and discuss issues, market needs and expansionary goals, and to understand capital raising, investment and potential growth (acquisition) opportunities being considered (and timelines);

● Conduct research, undertake due diligence and analysis, and identify benefits and risks in relation to prospects and partnership affiliations under consideration, and thereafter advise on viability of plans for scaling activities (and the initiatives) that support reaching milestones and goals;

● Develop market messaging, growth and capital raising strategies that have the potential to deliver significant returns and attract investors;

● Outline investor and funding strategy for growth (retail and online activity) and suggest ways to minimize costs associated with technological platform improvements.

● Present findings to senior management in relation to macro marketing plans and expansion viability, as well as select capital raising, investment and growth initiatives (and their structure).

5. The
 Consultant shall periodically provide the services in paragraph C-4 on dates to be scheduled
 by the Firm.

6. The
 Consultant shall at agreed upon times during the Term of this Agreement, be available, except
 during periods of vacation or when the Consultant is disabled by illness or incapacity, and
 Consultant shall faithfully and diligently perform the Consultant's duties. It is agreed
 and acknowledged that the Consultant may provide services to other persons, clients and Firms.

7. The
 Consultant shall perform the services referred to herein in a confidential, efficient prompt,
 economical, skillful, and careful manner, in accordance with the best modern methods, standards
 and practices currently prevailing in the appropriate industry. The Consultant shall obey
 all applicable laws, regulations, rules and standards imposed by governmental authorities.
 The Consultant shall take direction on ongoing business issues and projects from the senior
 management of the Firm.

8. All
 documents, data and reports and other information generated by the Consultant in performing
 the services herein shall at all times be and remain the property of the Firm and all such
 material is confidential and proprietary to the Firm.

9. The
 Consultant acknowledges that during the course of providing services to the Firm, the Consultant
 will have access to proprietary information of the Firm including, but not limited to, information
 relating to customer lists; financial costs and sales data; supply sources and contracts;
 business opportunities for new and developing business; products, procedures, systems and
 techniques relating to the development, marketing and sales of the Firm's products
 and services. The Consultant acknowledges that all such proprietary information is a valuable,
 special and unique asset of the Firm. The Consultant shall faithfully serve and use his best
 efforts to promote the interests of the Firm and shall not disclose proprietary information
 to others, other than in the course of the Consultant's responsibilities as a Consultant
 advisor to the Firm, and shall not use such proprietary information for his own personal
 gain. Furthermore, the Consultant specifically agrees that this provision continues during
 and after the termination or expiration of this Agreement. In the event of a breach or threatened
 breach by the Consultant of the provisions of this paragraph, the Firm shall be entitled
 to an Injunction restraining the Consultant from disclosing, in whole or in part, such proprietary
 information or from rendering any services to any person, clients, Firm, association or other
 entity to whom such proprietary information, in whole or in part, has been disclosed or is
 threatened to be disclosed. Nothing herein shall be construed as prohibiting the Firm from
 pursuing any other remedies available to it for such breach or threatened breach, including
 the recovery of damages from the Consultant.

10. The
 Consultant warrants to the Firm that the performance of the services by the Consultant under
 this Agreement does not constitute a conflict with any party to whom the Consultant has provided
 services prior to the effective date of this Agreement.

**D.** **REMUNERATION** 

1. The
 Firm agrees to pay the Consultant an upfront fee in the amount of USD $500,000 for a six
 month term.

**E.** **ASSIGNMENT** 

1. This
 Agreement is a corporate service agreement and may not be assigned by either Party without
 the prior written consent of the other Party.

2. The
 Consultant shall not sub-contract all or any portion of the consulting services itemized
 in Part C hereof without the prior written consent of the Firm.

**F.** **ARBITRATION** 

1. Any
 controversy or claim arising out of or relating to this Agreement or any breach of this Agreement
 shall be finally settled by arbitration.

**INDEMNIFICATION**

Except to the extent paid in settlement from any applicable insurance policies, and to the extent permitted by applicable law, each Party agrees to indemnify and hold harmless the other Party, and its respective affiliates, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from or arise out of any act or omission of the indemnifying party, its respective affiliates, officers, agents, employees, and permitted successors and assigns that occurs in connection with this Agreement. This indemnification will survive the termination of this Agreement.

IN WITNESS WHEREOF the parties hereto have executed this Agreement to be effective as of the day and year first above written.

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| | |
|:---|:---|
| **For:** | **HCW Biologics Inc.** |
|  | **Hing C. Wong, Founder and Chief Executive Officer** |
|  | /s/ Hing C. Wong |
| **Date:** | April 25, 2026 |
| **For:** | **Bowery Consulting Group Inc.** |
|  | **Adam Vance Chambers, [Title]** |
|  | /s/ Adam Vance Chambers |
| **Date:** | April 25, 2026 |

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