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Windward Bio prices U.S. IPO at $17, raising about $175 million
Reuters reported Thursday that Novo Holdings-backed Windward Bio said it raised $175 million in a U.S. IPO, selling about 10.3 million shares at $17, within a $16-to-$18 range.
- New headline Was: “Novo Holdings-backed Windward Bio raises $175 million in US IPO”
- Our desk filed its story
Based on reporting by Reuters
Windward Bio said Thursday it had raised $175 million in a U.S. initial public offering, according to Reuters, after selling about 10.3 million shares at $17 each1.
Reuters said that price sat inside the company’s marketed range of $16 to $181.
The Basel, Switzerland, company is developing antibody medicines for serious respiratory and dermatologic diseases and was expected to begin trading Friday under the ticker WWB, Reuters reported1.
Reuters said founder and chief executive Luca Santarelli has led the company, which had raised $310 million in equity financing from Novo Holdings and other healthcare investors including OrbiMed, Blue Owl and RTW Investments1.
Reuters also said the lead candidate WIN378 is aimed at asthma and chronic obstructive pulmonary disease by blocking a protein tied to airway inflammation1.