Warrington-based Windtree Therapeutics has agreed to acquire commercial technology finance business CommLoan in its latest attempt to diversify its revenue streams, writes John George for the Philadelphia Business Journal.

The financial terms of the deal were not disclosed.

According to the agreement, CommLoan, which operates a commercial real estate lending marketplace, will retain its key employees and become a Windtree subsidiary.

The Bucks County biotechnology company explored acquisitions that included an apartment complex and an environmental service firm earlier this year, and it also evaluated opportunities in the cryptocurrency market. However, none of those efforts ultimately resulted in a completed deal.

“We have spent several quarters trying to find the right business to spearhead our growth initiatives,” said Jed Latkin, Windtree’s CEO. “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.”

He also added that the Scottsdale, Arizona-based company has 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.”

Read more about Windtree Therapeutics and its most recent attempt to diversify its revenue streams in the Philadelphia Business Journal.

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