HCW Biologics (HCWB) congratulates Wugen on its recently announced $115M equity financing led by Fidelity Management & Research Company, with participation from RiverVest Venture Partners, Lightchain Capital, Abingworth, ICG, LYZZ Capital, Tybourne Capital Management, Aisling Capital Management, and other leading life sciences investors. HCW Biologics holds a minority equity interest in Wugen which it received as a license fee for the 2020 Wugen Exclusive License Agreement. Since inception, the Company recognized $16.2M of revenues under the license 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.
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