Moonwalk Biosciences raised $70 million in a Series B round to advance its adipose-targeted RNAi candidate MW101 toward first-in-human clinical trials. The company plans to use the funding to complete IND-enabling work and initiate Phase 1 studies in late 2027. Moonwalk’s approach uses small interfering RNA designed to target fat biology directly, aiming to reduce weight and fat mass while preserving lean muscle and avoiding the appetite-driven mechanisms associated with incretin therapies. The company said preclinical data show weight loss and fat reduction in animals without reductions in food intake. The round was led by Alpha Wave Ventures and YK Bioventures with participation from Eli Lilly and other investors, reflecting ongoing institutional interest in next-generation obesity mechanisms beyond GLP-1s. The funding also signals continued validation of adipose-selective delivery chemistry as a differentiator in RNAi therapeutics.