Twostep Therapeutics said it gained IND clearance from the FDA for TS-104 and raised an oversubscribed $62.5 million Series A to advance the lead multispecific peptide-drug conjugate. The company’s funding also underscores continued appetite for novel conjugate architectures entering first-in-human dosing. Moonwalk Biosciences, meanwhile, raised $70 million in Series B financing to move its obesity candidate MW-101 into Phase I, leveraging human genetics and multiomics discovery. Together, the updates show parallel momentum in early clinical entry for both oncology-adjacent conjugates and metabolic therapeutics.