HCW Biologics announced it has raised $5 million to advance its Phase 1 clinical trial of HCW9302, an investigational therapy for alopecia areata. According to the company, the funding comes from Lincoln Park Capital Fund under an existing purchase agreement.
The company said HCW9302 is an IL-2-based fusion protein designed to stimulate regulatory T cells, which may help reduce autoimmune-driven hair loss. HCW Biologics claims this approach targets immune tolerance mechanisms rather than directly affecting hair follicles.
According to the company, the Phase 1 trial is currently enrolling patients to evaluate safety, tolerability, and preliminary signs of efficacy. HCW Biologics said the new funding will help cover study costs and support manufacturing activities needed for the trial.
The company claims its broader pipeline focuses on treatments that modulate the immune system to address autoimmune conditions and chronic inflammatory diseases. HCW Biologics said it aims to leverage its proprietary platform to develop therapies that restore immune balance in multiple indications.
The funding is expected to extend the company’s operational runway as it advances clinical development of HCW9302 and explores additional autoimmune disease targets.
