Windtree Therapeutics Inc (WINT)

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Windtree Announces Transformational Agreement to Acquire Revenue Generating Environmental Services Business
Windtree continues its transformation entering the rapidly growing $85 billion US environmental services space

Refocused strategy is expected to generate $12 million in revenue over the next 12 months

Transaction expected to produce a profitable business with growth opportunities through a roll up strategy

Windtree continues to pursue partnership or sale of pharmaceutical assets to reduce costs

WARRINGTON, Pa., June 10, 2025 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a diversified company focused on revenue generation in multiple growing industries, today announced a significant step in its drive toward overall profitability through its entry into a binding agreement to acquire Titan Environmental Services, Inc. (“Titan”)(OTC: TESI), a waste management business with operations in Michigan.

As consideration for the transaction, Windtree will issue preferred shares and has secured debt financing to fund the transaction and working capital for the business. Titan Environmental Services will become Windtree Environmental Services (“Windtree Environmental”) and operate as a subsidiary of Windtree. Members of Titan’s current management team will be retained to leverage their extensive experience in the waste management industry. The transaction is expected to close in the 3rd quarter. In the event an agreement cannot be consummated, the Company is entitled to an $8.0 million breakup fee.

Over the last several months, Titan has undergone changes to its management and strategy, eliminating non-core assets, in order to focus on its waste management expertise to drive revenue. The United States waste collection market was valued at $85 billion in 2024 and has historically generated attractive EBITDA margins and free cash flow. In addition to the acquisition of Titan, the Company believes the fragmented waste management market may provide an opportunity to scale the business and provide additional top-line revenue growth and positive EBITDA contributions through additional acquisitions. Windtree Environmental intends to immediately begin the implementation and execution of a roll-up strategy to capitalize on this opportunity.

Under Windtree’s refined corporate strategy, the Company has, and continues to, pursue opportunities in a multitude of growing industries to drive toward overall profitability. The Company continues to evaluate options for its drug candidate pipeline in an effort to reduce costs and increase overall profitability.

“This transaction strategically aligns with our vision of diversifying our business model by increasing revenue and providing significant growth potential for the Company,” said Jed Latkin, Chief Executive Officer of Windtree. “We look forward to working with the Titan management and continuing to execute on our refined corporate strategy.”

About Windtree Therapeutics, Inc.
Windtree Therapeutics, Inc. is a diversified company focused on becoming a revenue-generating company in a multitude of growing industries to drive toward overall profitability.