Novo Holdings-backed Windward Bio valued at $1 billion as shares rise in Nasdaq debut
WWB•Windward Bio was valued at $1.07 billion after its shares opened at $18.35 in their Nasdaq debut, above the $17 IPO price. The company raised $175 million.
1. IPO debut
Windward Bio raised $175 million in its IPO, pricing shares at $17 each within its marketed range of $16 to $18. Shares opened at $18.35, valuing the Basel-based company at $1.07 billion.
2. Company and investment
Windward is developing antibody medicines for serious respiratory and dermatologic diseases, including asthma, chronic obstructive pulmonary disease and atopic dermatitis. French drugmaker Sanofi agreed to purchase $50 million of shares and pre-funded warrants in a private placement.
