HCW Biologics and WY Biotech announced the closing of the first round of financing for their newly formed joint venture, Trimmune, established to develop immunotherapy candidates based on HCW Biologics’ proprietary technology platform. According to the company, the financing enables the venture to begin advancing a preclinical oncology molecule toward clinical development.
Trimmune has obtained an exclusive worldwide license to develop and commercialize in vivo applications of HCW11-006, a molecule created using HCW Biologics’ TRBC drug development platform. The company claims the agreement also includes an option related to Greater China rights for HCW9302, a clinical-stage candidate being evaluated for autoimmune diseases.
Under the transaction, HCW Biologics will receive total consideration valued at approximately $7 million, consisting of cash payments and a minority co-founder equity stake in Trimmune, according to the company. The company stated that upfront licensing payments total $3.5 million, with an initial installment already received and the remainder scheduled shortly after closing.
Trimmune is backed by investors including CITIC Medical Fund and TigerYeah Capital Fund of TigerMed, which will support development activities. According to the company, the joint venture will be responsible for funding early clinical development, allowing HCW Biologics to advance the program while managing financial risk.
The company claims a Phase 1 clinical trial evaluating HCW11-006 in solid tumors is expected to begin in China in the first half of 2027. HCW Biologics retains an option to reclaim commercialization rights in the Americas following completion of the initial study, according to the company.
