At a Glance
- Companies: HCW Biologics; WY Biotech; Trimmune JV
- Locations: USA (HCW); China (WY/Trimmune)
- Deal value: $3.5m upfront cash + $3.5m equity stake to HCW
- Focus area: HCW11-006 (TRBC platform for cancer/infectious diseases)
- Next steps: Phase 1 China H1 2027; HCW Americas opt-in post-phase 1
What happened?
HCW Biologics and WY Biotech closed the first financing round for their Trimmune joint venture on 13 February 2026. Trimmune received exclusive worldwide rights to HCW11-006 for in vivo applications, with HCW receiving $3.5m upfront cash (half paid immediately) and co-founder equity valued at $3.5m.
Why does it matter?
HCW11-006, HCW’s first TRBC platform molecule, shows preclinical promise in cancer and infectious diseases; Trimmune’s funding and China expertise accelerate development while HCW retains Americas option and upside.
Who’s behind it?
Trimmune backed by CITIC Medical Fund and TigerMed; Roger Lu chairs. HCW retains royalties, milestones and opt-in for Americas post-phase 1 China.
How was it achieved?
Trimmune pays $3.5m upfront for license; HCW gets equity stake. Phase 1 China launches H1 2027; co-development possible post-data.
What’s next?
Trimmune funds phase 1 China; HCW accesses data royalty-free and considers Americas opt-in. Joint BD with multinationals planned.
What are people saying?
HCW CEO Hing Wong: “Thrilled… Trimmune’s capabilities… advance HCW11-006.” Trimmune Chairman Roger Lu: “Robust financial base… showcase clinical benefits.”