Swiss biotech Windward Bio has acquired ex‑China rights to Qyuns Therapeutics’ clinical‑stage bispecific WIN027 (QX027N), in a deal with up to $700 million of potential value. The antibody targets TSLP and IL‑13 and is being developed for respiratory and dermatology indications; Qyuns is running a Phase I study with an extended half‑life design. Windward framed the acquisition as a strategic complement to its existing immunology pipeline and cited potential for less frequent dosing and broader disease control. The transaction underscores continued Western appetite for Chinese‑developed biologics and accelerates Windward’s push to commercialize multispecific immunology assets outside Greater China.