Immunotherapy biotech HCW Biologics sets terms for $50 million IPO

HCW Biologics announced terms for its IPO on Wednesday, saying it plans to raise $50 million by offering 5.6 million shares at a price range of $8 to $10, reported Renaissance Capital.

According to the news source, the company is focused on novel immunotherapies that disrupt the link between chronic, low-grade inflammation and age-related diseases. 

Its gateway indication is oncology, and it expects to have four active trials to evaluate its molecules for cancer indications by the end of 2021.

The company's molecule HCW9201 is currently being evaluated for generation of memory-like NK cell products in two Phase II trials for relapsed/refractory acute myeloid leukemia, with preliminary data expected in the second half.