Pharma BD Deal Intelligence

Windward Bio AG / Harbour BioMed

2025 · Licensing/Option · $970M · Complete

Harbour BioMed and Sichuan Kelun-Biotech announced on January 10, 2025 an exclusive license agreement with Windward Bio AG for HBM9378/SKB378, a long-acting fully human anti-TSLP monoclonal antibody. Windward Bio receives exclusive rights to research, develop, manufacture and commercialize the antibody globally excluding Greater China and several Southeast and West Asian countries. The licensors are eligible for up to US$970 million in upfront and milestone payments, including $45 million upfront and near-term (cash plus equity in Windward Bio's parent), plus tiered royalties. Windward Bio simultaneously announced a $200 million Series A led by OrbiMed, Novo Holdings and Blue Owl Healthcare Opportunities. Kelun-Biotech is a co-licensor and is not captured in the buyer/target fields.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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