Windward Bio raised $165M to fund late-stage work across respiratory programs, including a lead long-acting antibody in development for asthma and COPD. The financing also supports a second long-acting antibody program with potential in respiratory and dermatological indications. The company’s strategy targets dosing convenience versus currently available biologic medicines, aiming to improve real-world feasibility for chronic lung disease. The round underscores sustained investor appetite for antibody platforms that can differentiate on administration frequency as much as mechanism. For respiratory biotech investors, the size and purpose of the raise suggest Windward is moving beyond discovery and into execution for clinical advancement, while keeping a pipeline hedge across adjacent immunologic indications.