HCW Biologics Inc., a U.S.-based clinical-stage biopharmaceutical company, has solidified a license agreement with WY Biotech Co., Ltd., a China-based company, for the development and commercialization of HCW11-006, a novel immunotherapy molecule. This agreement, now fully binding, follows the completion of due diligence by WY Biotech. HCW Biologics has earned a $7.0 million upfront license fee and will recognize this revenue in the second quarter of 2025. The company is also eligible for further development milestone payments and double-digit royalties on future sales. Under the agreement, WY Biotech will manage all costs related to the molecule's development, while HCW Biologics retains an option to recapture commercial rights in the Americas after a Phase 1 trial. Both companies will collaborate globally on clinical development and partnering efforts.
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