Warrington-based Windtree Therapeutics is purchasing a 436-unit apartment complex in Texas as part of its strategy to generate revenue while continuing with the development of new drug candidates, writes John George for the Philadelphia Business Journal.
The biotechnology company will pay the Way Maker Growth Fund, a real estate investment group, $43 million to buy the Aubrey apartment community in Houston.
The deal aims to “diversify and stabilize” Windtree, according to CEO Jed Latkin.
“By identifying opportunities to bring in stable revenue, we believe the company can reduce its need for capital that could be dilutive to the stock price,” said Latkin. “We are actively looking at multiple acquisition candidates that could provide near-term revenue and profits.”
The company did not say how much rent it expects to generate from the apartment complex.
Windtree has already announced its new corporate strategy. This includes acquiring assets that generate revenue, such as small biotech companies with products that have already been approved by the FDA.
The Bucks County company’s pipeline of new drug candidates includes experimental therapies for cardiogenic shock, heart failure, and cancer.
Windtree posted a net loss of $1.8 million last year, down from a $20.3 million loss in 2023.
Read more about Windtree Therapeutics in the Philadelphia Business Journal.
Editor’s Note: This post was originally published on BUCKSCO Today in May 2025.
