Windward Bio raised $165 million to support clinical testing of its respiratory antibody programs, positioning the company for trials in asthma, COPD, and related inflammatory indications. The financing backs a lead long-acting antibody development plan plus a second program that may extend into respiratory and dermatological applications. The company’s strategy emphasizes dosing convenience and durability versus conventional biologic schedules, aiming to build differentiation in crowded chronic respiratory categories. For investors and competitors, the round signals that long-acting antibody approaches remain well-funded as development timelines and payer preference around reduced dosing complexity become more central.