Windward Bio raised $175 million in its initial public offering, setting the stage for late-stage trials of WIN378, an ultra-long-acting therapy targeting TSLP. The company, which started trading under the ticker WWB, received additional support with Sanofi buying another $50 million of shares in a private placement. Windward also entered Phase 3 in severe uncontrolled asthma and has COPD dosing studies underway with additional program expansion planned across TSLP. For biotech investors, the transaction combines fresh financing with a late-stage schedule that runs parallel to AstraZeneca and Amgen’s Tezspire franchise competition, centered on the same cytokine target.