Wugen's recent successful equity financing praised by HCW Biologics, a shareholder of the company
In an exciting development for the biotechnology industry, HCW Biologics and Wugen, two pivotal-stage companies based in St. Louis, Missouri and listed on NASDAQ (HCWB and WUGN respectively), have announced significant funding and strategic collaborations.
HCW Biologics, a clinical-stage biopharmaceutical company focused on disrupting the link between inflammation and age-related diseases, has a minority equity interest in Wugen. This interest was acquired as a license fee for the 2020 Wugen Exclusive License Agreement. Since inception, HCW Biologics has recognised $16.2 million of revenues under this agreement, derived from an upfront license fee, paid in cash and shares of Wugen common stock, and product sales for clinical material ordered by Wugen for its clinical trials.
Wugen, on the other hand, recently secured a $115 million equity financing round, led by Fidelity Management & Research Company. This round was also participated in by RiverVest Venture Partners, Lightchain Capital, Abingworth, ICG, LYZZ Capital, Tybourne Capital Management, Aisling Capital Management, and other leading life sciences investors. HCW Biologics, as a shareholder of Wugen, expressed excitement about the high-quality syndicate of institutional investors supporting Wugen's continued development of their next generation of allogeneic, off-the-shelf CAR-T cell therapies.
Wugen's proprietary CAR-T platform is designed to address critical unmet needs in hematologic malignancies. Their allogeneic therapies are derived from healthy donor cells and are engineered to deliver robust anti-tumor activity. Wugen's US-based manufacturing is optimized for scale, consistency, and rapid deployment.
Meanwhile, HCW Biologics' lead product candidate, HCW9302, was developed using the Company's legacy TOBITM (Tissue factor-based fusion) platform. The Company has also created another drug discovery technology, the TRBC platform, which is not based on Tissue Factor. The TRBC platform has the capability to construct immunotherapeutics that not only activate and target immune responses but are also equipped with receptors that specifically target cancerous or infected cells.
It is important to note that the press release contains forward-looking statements that are subject to substantial risks and uncertainties. The risks and uncertainties that could cause actual results to differ are described in the section titled 'Risk Factors' in the annual report on Form 10-K and the latest Form 10-Q filed with the SEC.
For more information about Wugen, visit wugen.com. The company contact for HCW Biologics Inc. is Rebecca Byam, who can be reached at [email protected].
Read also:
- Ford Discontinues Popular Top-Seller in Staggering Shift, Labeled as a "Model T Event"
- 2025 Witnesses a 27% Surge in Worldwide Electric Vehicle Sales, Despite Opposition to Electrification Policies in the U.S.
- Recorded surge in electric vehicle registrations during the initial half of the year
- Dubai-bound: Omega Seiki Mobility, an electric vehicle company from India, prepares for assembly establishment
