Windward Bio Group, a Switzerland-based Phase 2/3 biotech developing antibodies for respiratory and dermatologic diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Windward Bio is developing ultra-long-acting antibodies for asthma, COPD, and atopic dermatitis, designed to be dosed less frequently than currently available treatments. Its lead candidate, WIN378, targets TSLP, the same target as approved drug Tezspire, and is designed for twice-yearly dosing versus every four weeks for Tezspire. WIN378 is in a Phase 2/3 trial in severe uncontrolled asthma and a Phase 2 trial in COPD, with Phase 2 primary results in asthma expected in the first half of 2027. Its second candidate, WIN027, is a bispecific antibody targeting TSLP and IL-13 that is in a Phase 1 trial, with Phase 2 trials in COPD and atopic dermatitis planned to begin enrolling in the first half of 2027. The company in-licensed WIN378 from Kelun-Biotech and Harbour BioMed and WIN027 from Qyuns Therapeutics.
The Basel, Switzerland-based company was founded in 2024 and plans to list on the Nasdaq under the symbol WWB. Windward Bio Group filed confidentially on July 24, 2026. Jefferies, TD Securities, Piper Sandler, and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
