Windward Bio files for $365 million US IPO

Basel-based biotechnology company Windward Bio AG has filed for an initial public offering (IPO) in the United States. The company aims to raise up to $365 million to accelerate the development of long-acting antibody treatments.

Windward Bio focuses on therapies for asthma, chronic obstructive pulmonary disease (COPD), and inflammatory skin conditions. These treatments are designed to reduce the frequency of injections required by patients. The company’s lead drug candidate, WIN378, is an antibody engineered to block thymic stromal lymphopoietin (TSLP), a protein that triggers inflammatory responses in respiratory diseases.

Major institutional investors have already taken pre-IPO stakes, including Novo Holdings at 14.5% and funds managed by Blue Owl Capital at 5.9%. Other investors involved include OrbiMed and Omega Funds. The company plans to list its shares on the Nasdaq under the ticker symbol ‘WWB’. The offering is being underwritten by Jefferies, TD Cowen, Piper Sandler, and UBS Investment Bank.