11:47 AM EST, 12/04/2024 (MT Newswires) -- Windtree Therapeutics ( WINT ) said Wednesday it has tapped New Growth Advisors as its strategic adviser to lead a potential transaction process for its cardiovascular portfolio.

New Growth Advisors will help manage the current inbound interest and run an expanded out-licensing process for the portfolio, Windtree said.

The company said it's looking to secure potentially non-dilutive financing through a partnership for istaroxime and the oral SERCA2a activators for all global territories excluding Greater China.

In Greater China, Windtree has a licensing deal for istaroxime, dual mechanism SERCA2a activators and rostafuroxin with Lee's Pharmaceuticals for which it could receive as much as $138 million in potential milestones and low-double-digit royalties.

Windtree said Lee's expects to launch phase 3 in acute heart failure in its licensed territory in H1 2025.

Windtree shares were down 13.5% in recent trading.

Price: 0.47, Change: -0.07, Percent Change: -13.52