NEW YORK, May 22, 2026 (GLOBE NEWSWIRE) -- E.F. Hutton & Co. ("E.F. Hutton"), an investment banking and financial advisory firm headquartered in New York City, today announced that it acted as the sole placement agent in connection with a $4.0 million private placement for HCW Biologics Inc. ("HCW Biologics" or the "Company") (NASDAQ:HCWB), a clinical-stage biopharmaceutical company developing transformative fusion immunotherapeutics designed to treat diseases driven by chronic inflammation, including autoimmune disorders, cancer, and senescence-associated conditions.

Joseph T. Rallo, Chief Executive Officer of E.F. Hutton & Co., commented, "We are pleased to have partnered with HCW Biologics on this important financing transaction. HCW Biologics continues to advance a differentiated pipeline of immunotherapeutic candidates targeting significant unmet medical needs. The Company's proprietary immunotherapeutics represent a novel class of therapeutics that it believes have the potential to fundamentally change the treatment landscape for proinflammatory and senescence-associated diseases, improve patient quality of life, and potentially extend longevity. We look forward to supporting the Company as it progresses its clinical and strategic objectives."

The offering closed on May 21, 2026. HCW Biologics intends to use the net proceeds from the offering to continue clinical trials for HCW9302, advance IND-enabling studies for its T-Cell Engager, HCW11-018b, and its second-generation immune checkpoint inhibitor, HCW11-040, as well as for general corporate purposes, including the repayment of certain debts and settlements.

About E.F. Hutton & Co.

E.F. Hutton & Co. is an investment bank and broker-dealer headquartered in Manhattan, providing comprehensive advisory and financing solutions to a diverse range of clients including corporates, sponsors, and public-private partnerships. With a global footprint, we offer end-to-end investment banking services encompassing capital markets, PIPEs, private placements, M&A advisory, and strategic financing. The Executive Team at E.F. Hutton & Co. has a proven track record of delivering unwavering strategic advice to clients across the U.S., Asia, Europe, the UAE, and Latin America.

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E.F. Hutton & Co. Serves as Sole Placement Agent on HCW Biologics Inc. $4.0 Million Private Placement