HCW Biologics to Showcase Two Novel Groups of Fusion Molecules Created with Proprietary and Versatile TOBI™ Platform At the 105th Annual Meeting of the American Association of Immunologists

Cytokine-Based Fusion Proteins to Activate and Expand Memory-Like NK Cells 
Without Using Feeder Cells
Sufficient for Off-the-Shelf Multi-Dose Adoptive Cell Therapy

Cytokine-Based Fusion Proteins to Expand Human Regulatory T Cells
That Circumvents Need for Magnetic Beads
For Adoptive Cell Therapy for Autoimmune and Inflammatory Diseases

MIRAMAR, Fla., May 05, 2022 (GLOBE NEWSWIRE) -- HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen health span by disrupting the link between inflammaging, that is, chronic, low-grade inflammation, and age-related diseases, is presenting two groups of novel immunotherapeutics created with its proprietary and powerful Tissue factOr-Based fusIon (TOBI™) discovery platform at the 105^th Annual Meeting of the American Association of Immunologists (AAI), or Immunology 2022.

“HCW Biologics has invented a unique solution for providing clinical-grade fusion proteins for therapeutic use,” stated Dr. Hing Wong, Founder and CEO of HCW Biologics. “Immunology 2022 is our opportunity to showcase the power and versatility of our TOBI™ discovery platform. The first program will feature the benefits of the use of our fusion proteins without the need of feeder cells to address the challenges for supporting a multiple-dose infusion of memory-like NK cells in the clinic for cancer.”

Dr. Wong continued, “Immunology 2022 also provides us with an ideal audience for the introduction to our program for the expansion of regulatory T cells (T_reg cells) for the treatment of autoimmune and inflammatory diseases. The benefits of T_reg cells in the treatment of inflammatory diseases are well-known, but manufacturing these therapies are labor intensive, lack consistency, and are difficult to scale. HCW Biologics has developed an approach that does not rely on magnetic beads. We also showcase our proprietary human monoclonal antibodies for generating target-specific T_reg cells. We believe our unique approach could potentially open up T_reg therapy as an adoptive cell therapy that could address a broad range of inflammatory pathologies.”

Oral and Poster Presentation for Expansion of Memory-Like NK Cells
Title:	A feeder cell-free activation and expansion strategy to generate memory-like NK cells sufficient for off-the-shelf multi-dose adoptive cell therapy
Session Title:		Technological Innovations in Immunology I
Abstract ID:		2442
Oral Presentation
Presenter:		Michael J. Dee, Associate Scientist, HCW Biologics Inc.
Date/Time:		Monday, May 9, 2022 at 9:08 to 9:25 am PT
Location:		Room A 105-106, Oregon Convention Center, Portland, OR
Poster Presentation
Date/Time:		Sunday, May 8, 2022 at 2:30 to 3:45 pm PT
Location:		Exhibit Hall P621, Oregon Convention Center, Portland, OR
Poster Presentation for Expansion of TregCells
Title:	Robust human regulatory T cell expansion with fusion proteins HCW9302 and HCW9213 circumvents need for magnetic-bead or feeder cell approaches for adoptive cell therapy
Session Title:		Therapeutic Approaches to Autoimmunity 2
Abstract ID:		2389
Date/Time:		Monday May 9, 2022 at 2:30 to 3:45 pm PT
Location:		Exhibit Hall P625, Oregon Convention Center, Portland, OR

Additional meeting information can be found on the AAI website: https://www.immunology2022.org. The posters will be available under the Events & Presentations section of the Company’s website shortly after the event.

About HCW Biologics:
HCW Biologics is a biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen health span by disrupting the link between chronic, low-grade inflammation, and age-related diseases, such as cancer, cardiovascular diseases, diabetes, neurodegenerative diseases, and autoimmune diseases. The Company has combined deep understanding of disease-related immunology with its expertise in advanced protein engineering to develop the TOBI™ (Tissue factOr-Based fusIon) discovery platform. The Company uses its TOBI™ discovery platform to generate designer, novel multi-functional fusion molecules with immunotherapeutic properties. The invention of HCW Biologics’ two lead molecules, HCW9218 and HCW9302, was made via the TOBI™ discovery platform. The FDA has cleared HCW Biologics to initiate a first-in-human Phase 1b clinical trial for HCW9218 in patients with advanced pancreatic cancer. The FDA has cleared the Masonic Cancer Center at the University of Minnesota to initiate a Phase 1 clinical trial for HCW9218 in patients with advanced solid tumors with progressive disease after prior chemotherapies. HCW9302 is currently undergoing IND-enabling studies for an autoimmune indication.

Forward Looking Statements:
Statements in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,” “outlook,” “forecast” or other similar words and include, without limitation, statements regarding immunotherapies that are able to lengthen health span by disrupting the link between chronic, low-grade inflammation and age-related diseases; ability of cytokine-based fusion proteins to activate and expand memory-like NK cells sufficient for off-the-shelf multi-dose adoptive cell therapy without using feeder cells and ability to treat cancer ; ability of cytokine-based fusion proteins to expand human regulatory T cells for adoptive cell therapy for autoimmune diseases that circumvents need for magnetic beads; and ability of proprietary human monoclonal antibodies to generate target-specific T_reg cells.   Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, but are not limited to, the risks and uncertainties that are described in the section titled “Risk Factors” in the Company’s annual report on Form 10-K filed with the United States Securities and Exchange Commission (the “SEC”) on March 29, 2022 and in other filings filed from time to time with the SEC. Forward-looking statements contained in this press release are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Company Contact: Rebecca Byam Chief Financial Officer HCW Biologics Inc. rebeccabyam@hcwbiologics.com

Investor Relations Contact: Daniel Kontoh-Boateng Vice President Tiberend Strategic Advisors, Inc. dboateng@tiberend.com

Media Relations Contact: Dave Schemelia Senior Vice President Tiberend Strategic Advisors, Inc. dschemelia@tiberend.com