Swiss drug developer Windward Bio files for US IPO

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.

Here are more details:

• 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

• 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

• 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

• 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)