Moonwalk Biosciences raised $70 million in a Series B to move its lead adipose-targeted RNAi obesity candidate, MW101, toward first-in-human studies planned for late 2027. The company said preclinical work showed weight and fat mass reduction while preserving muscle mass and not reducing food intake in animal models. The financing was led by Alpha Wave Ventures and YK Bioventures, with participation from Eli Lilly and others. Moonwalk plans to use proceeds for IND-enabling studies and to expand its siRNA pipeline aimed at additional adipose mechanisms, including lipolysis and energy homeostasis. For the obesity market dominated by GLP-1s, Moonwalk’s approach centers on targeting non-incretin biology via adipose delivery chemistry and an AI-enabled discovery engine integrating human genetics and omics data.