Windtree Therapeutics Inc (WINT) News & EventsWINTWindtree Therapeutics Inc

Windtree Signs Agreement to Sell Cardiovascular Drug Candidates to Seismic

Windtree Therapeutics announced that it has signed an agreement for the sale of its cardiovascular drug candidates to Seismic Pharmaceutical, a private investment group based in North Carolina, USA. Windtree is entitled to 20% of any future proceeds received by SPH. This would include global commercial net revenue in acute heart failure if approved by regulatory authorities. There were 2.1 and 2.7 million AHF hospital admissions in 2022 in the US and EU respectively. Windtree believes that the AHF global drug market value is in the billions of dollars. If the buyer conducts a financing of at least $10MM to fund development of the assets, Windtree would receive a payment of $700k from the proceeds. Additionally, as part of the agreement, Windtree will transfer certain cardiovascular drug candidate development payables to SPH.

Windtree Signs Letter of Intent to Acquire CommLoan

Windtree Therapeutics announced that it has signed a letter of intent to acquire CommLoan, a commercial tech finance company. CommLoan will retain key employees and become a subsidiary of Windtree. Windtree has provided bridge financing to CommLoan during this transition period. "Windtree is pleased to add a revenue generating fintech business as our subsidiary," said Jed Latkin, Chief Executive Officer of Windtree. "We have spent several quarters trying to find the right business to spearhead our growth initiatives and we are very enthusiastic that CommLoan provides us with a unique advantage to seize on the growing trend in using software and AI to streamline the lending process. CommLoan has put together a massive proprietary database that would take years to replicate and creates a massive moat between them and the other companies trying to compete in this space."

Windtree Could Obtain License Agreement Payments for Ongoing Development Efforts

Windtree Therapeutics announced that it may receive license agreement payments from its licensee for renewed development work in the Company's licensed acute pulmonary treatments. The amended and restated global license agreement was executed in August, 2022. The agreement includes potential milestone payments up to $78.9 million and up to low double digit royalties. The license partner is responsible for all costs of development and commercialization. "Windtree has been informed by its licensing partner about its acute pulmonary treatment development plan and we are supportive for these activities," said Jed Latkin, Chief Executive Officer of Windtree. "Around the world, RDS remains as a serious condition that needs innovation. Potential milestone and royalty payments to Windtree would be non-dilutive and could contribute to funding our current corporate strategy."