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Finance

Swiss drug developer Windward Bio files for US IPO

Published by Global Banking & Finance Review

Posted on October 23, 2026

2 min read

· Last updated: October 23, 2026

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Windward Bio Files for US IPO to Back Promising Antibody Treatments

Windward Bio's IPO and Antibody Treatment Developments

Oct 23 (Reuters) - Windward Bio filed for a US initial public offering on Friday, becoming the latest drug developer seeking to capitalize on renewed investor interest in biotech listings.

Biotech has been one of the more active sectors in this year's fall IPO market, even as rising bond yields and concerns around the AI trade weigh on broader risk appetite.

Key Details of Windward Bio's Business and IPO

Here are more details:

Company Overview

• Basel, Switzerland-based Windward Bio is developing long-lasting antibody treatments for asthma, chronic obstructive pulmonary disease and inflammatory skin conditions, with the aim of reducing how frequently patients need injections

Lead Drug Candidate

• WIN378, the company's lead drug candidate, is an antibody designed to block thymic stromal lymphopoietin, or TSLP, which is a protein that triggers several inflammatory pathways involved in asthma and other respiratory diseases

Investor Backing and Pre-IPO Stakes

Major Investors

• Novo Holdings and funds managed by Blue Owl Capital have pre-IPO stakes of 14.5% and 5.9%, respectively, in the company

• Windward has secured up to $365 million from investors including OrbiMed, Novo Holdings, Omega Funds and Blue Owl Healthcare Opportunities

IPO Details

Nasdaq Listing and Underwriters

• The company plans to list its shares on Nasdaq under the symbol "WWB". Jefferies, TD Cowen, Piper Sandler and UBS Investment Bank are the underwriters for the offering

(Reporting by Pragyan Kalita in Bengaluru; Editing by Shreya Biswas)

Key Takeaways

  • Windward Bio filed an F‑1 registration on October 23, 2026 to list on the Nasdaq Global Market under ticker WWB, with Jefferies, TD Cowen, Piper Sandler and UBS as underwriters (tradingview.com).
  • The company is developing WIN378, a long‑acting anti‑TSLP antibody in Phase 2/3 for asthma and Phase 2 for COPD, plus WIN027, a bispecific targeting TSLP and IL‑13 currently in Phase 1 (tradingview.com).
  • Windward Bio estimates a combined peak market opportunity of around $60 billion across asthma, COPD and atopic dermatitis biologics (tradingview.com).

References

Frequently Asked Questions

What is Windward Bio's focus in drug development?
Windward Bio specializes in developing long-lasting antibody treatments for asthma, chronic obstructive pulmonary disease, and inflammatory skin conditions.
How much has Windward Bio raised before its US IPO?
Windward Bio has secured up to $365 million from investors including OrbiMed, Novo Holdings, Omega Funds, and Blue Owl Healthcare Opportunities.
What is the ticker symbol for Windward Bio's planned listing?
Windward Bio plans to list its shares on Nasdaq under the ticker symbol 'WWB'.
Who are the major investors in Windward Bio?
Major investors include Novo Holdings, Blue Owl Capital, OrbiMed, and Omega Funds.
Which banks are underwriting Windward Bio's IPO?
Jefferies, TD Cowen, Piper Sandler, and UBS Investment Bank are the underwriters for Windward Bio's IPO.

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