HCW Biologics Inc. congratulated Wugen, Inc. on closing a $115 million equity financing round, led by Fidelity Management & Research Company. This financing included participation from several 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. This investment reflects the value of HCWB's early licensing activities.
Since the inception of the license agreement, HCW Biologics has recognized $16.2 million in revenues from an upfront license fee, paid in cash and Wugen common stock, and product sales for clinical material ordered by Wugen for its clinical trials.
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