HCW Biologics Licenses TRBC Oncology Asset to China Joint Venture Trimmune
HCW Biologics and WY Biotech closed first-round financing for joint venture Trimmune, granting exclusive worldwide license to develop preclinical TRBC molecule HCW11-006 for $7 million in upfront consideration, with Phase 1 trial planned in China for first half of 2027.
On February 13, 2026, HCW Biologics and China-based WY Biotech announced an exclusive worldwide license agreement granting newly formed Beijing Trimmune Biotech rights to develop and commercialize in vivo applications of HCW11-006, a preclinical TRBC-platform molecule, with an added option on Greater China rights for clinical-stage HCW9302. The structure positions Trimmune, backed by CITIC Medical Fund and TigerYeah Capital Fund of TigerMed, as the operating licensee focused on cancer-related indications.
The parties closed a first round of financing for Trimmune, under which HCW Biologics receives a $3.5 million upfront cash license fee, paid in two tranches starting February 13, 2026, plus a minority co-founder equity stake currently valued at about $3.5 million. The transaction has a total initial consideration of roughly $7.0 million. HCW Biologics is also eligible for milestone payments, double-digit royalties on future sales, and a share of proceeds from any future transactions involving HCW11-006, creating a capital-efficient way to advance the asset.
Trimmune plans to initiate a Phase 1 trial in China to evaluate HCW11-006 in solid tumors in the first half of 2027, funding all Phase 1 costs and giving HCW Biologics access to early clinical data without bearing development expenses. Under the agreement, Trimmune assumes responsibility for development and commercialization within its territory. Each party will bear research, development, manufacturing, regulatory, and commercialization expenses within its respective territory.
The agreement also grants HCW Biologics a payment-free, milestone-free, royalty-free option to recapture all rights to HCW11-006 for in vivo applications in the Americas after completion of the Chinese Phase 1 study, at which point the companies would co-develop the drug and coordinate global business development. This structure allows HCW Biologics to share in upside via equity and profit-sharing while limiting near-term cash burn, potentially strengthening its financial position and de-risking advancement of its TRBC platform in oncology.
HCW11-006 is the first high-potential molecule generated from HCW Biologics' TRBC platform, a modular scaffold designed to construct multi-functional immunotherapeutics capable of activating immune responses while targeting diseased cells. The platform supports development of immune cell stimulators, next-generation checkpoint inhibitors, and multi-specific targeting fusions. The company's TRBC drug discovery platform enables construction of multi-functional immune cell stimulators, second-generation checkpoint inhibitors and multi-specific targeting fusions designed to activate immune responses while directing them toward cancerous or infected cells. HCW Biologics has created more than 50 TRBC-based molecules and operates two licensing programs granting exclusive rights to select proprietary assets.
The agreement also includes an option for Trimmune to license Greater China rights to another molecule, HCW9302, HCW Biologics' clinical-stage autoimmune candidate. The venture is structured to fund clinical development in China while positioning the program for potential multinational expansion.
HCW Biologics Inc. is a U.S.-based, clinical-stage biopharmaceutical company developing proprietary immunotherapies to treat diseases driven by chronic inflammation, particularly age-related and senescence-associated conditions. Its pipeline, built on the TOBI and TRBC platforms, targets oncology, autoimmune and other inflammatory diseases, with lead candidate HCW9302 in a Phase 1 trial for an autoimmune disorder.