HCW Biologics, WY Biotech Launch Trimmune JV to Advance TRBC Oncology Candidate

HCW Biologics, a US-based clinical-stage biopharmaceutical company, and WY Biotech, a China-based company specializing in recombinant protein drugs and gene/cell therapies, have closed the first round of financing for Beijing Trimmune Biotech, a newly formed joint venture (JV) established to develop and commercialize HCW11-006, a proprietary molecule generated from HCW Biologics’ T-cell feceptor β chain constant region (TRBC) drug development platform. The agreement grants Trimmune an exclusive worldwide license for in-vivo applications of HCW11-006 (1).

The transaction provides HCW Biologics with a $3.5 million upfront license fee and a minority co-founder equity stake in Trimmune also currently valued at approximately $3.5 million, according to the company (1). The transaction has a total initial consideration of roughly $7.0 million. Additional potential financial terms include development milestones, double-digit royalties on future product sales, and a share of proceeds from potential future transactions involving the licensed asset.

“We are excited that WY Biotech and HCW Biologics have successfully established an entity to laser focus on the development and commercialization of HCW11-006,” said Hing C. Wong, PhD, CEO of HCW Biologics, in a company press release (1). “We believe we have provided Trimmune with a running start in its clinical development efforts.”

What is the strategic structure of the Trimmune JV?

Under the agreement, Trimmune assumes responsibility for development and commercialization of HCW11-006 in licensed territories. HCW Biologics retains a payment-free, milestone-free, and royalty-free option to reclaim rights in the United States, Canada, Central America, and South America following completion of the Phase I study in China. If exercised, the companies would enter a co-development arrangement, aligning global clinical strategy while maintaining territorial cost responsibility.

Each party will bear research, development, manufacturing, regulatory, and commercialization expenses within its respective territory. Importantly, Trimmune will fund the initial Phase I trial in China, enabling HCW Biologics to access early clinical data without direct financial exposure.

The agreement also includes an option for Trimmune to license Greater China rights to another molecule, HCW9302, HCW Biologics’ clinical-stage autoimmune candidate. Trimmune is backed by CITIC Medical Fund and TigerYeah Capital Fund of TigerMed, a global contract research organization (CRO). The venture is structured to fund clinical development in China while positioning the program for potential multinational expansion.

How does HCW11-006 fit within the TRBC platform strategy?

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 (1,2).

“HCW11-006 is the first high-potential molecule created with our promising TRBC platform. We will be working closely with Trimmune to continue to develop HCW11-006 with the goal of creating treatments for indications that currently have none available,” Dr. Wong said in the release.

When will clinical development begin?

According to Trimmune’s leadership, strong preclinical in-vitro and in-vivo data support advancement into human studies. Roger Lu, chairman of Trimmune, stated that the company expects to initiate a Phase I study in China evaluating HCW11-006 in solid tumors during the first half of 2027, subject to regulatory clearance.

The financing structure reflects a capital-efficient cross-border model in which Chinese venture backing and CRO support accelerate early clinical execution, while preserving the partner company’s (in this case HCW Biologics) ability to participate in downstream global development. If early data validate the TRBC-derived molecule, the partnership could position both companies for broader strategic transactions in oncology and immune-mediated disease markets.

References

1. HCW Biologics. HCW Biologics and WY Biotech Announce Closing of First Round of Financing for Newly Formed Joint Venture Trimmune. Press Release. Feb. 13, 2026.
2. Cwynarski, K.; Iacoboni, G.; Tholouli, E.; et al. TRBC1-CAR T Cell Therapy in Peripheral T cell Lymphoma: A Phase 1/2 Trial. Nat. Med. 2025, 31, 137–143. DOI: 10.1038/s41591-024-03326-7