HCW Biologics Inc. (the “Company” or “HCW Biologics”) (NASDAQ: HCWB), a clinical-stage biopharmaceutical company focused on discovering and developing novel immunotherapies to lengthen healthspan by disrupting the link between inflammation and age-related diseases, entered into a $26.25 million development line of credit agreement on April 21, 2023. This five-year, non-amortizing loan, collateralized with real estate assets, provides project financing for the buildout of the Company’s new headquarters and manufacturing facility. Funds formerly earmarked for this purpose will be redeployed for clinical development, including multiple Phase 2 clinical trials in cancer indications to continue to evaluate HCW9218, the Company’s injectable, bifunctional fusion protein molecule for reduction of senescence; and a Phase 1b clinical study in an autoimmune disease to evaluate HCW9302, the Company’s injectable, IL-2-based fusion compound.