Moonwalk Biosciences raised $70 million in a Series B round to advance MW-101, its adipose-targeted RNAi obesity candidate, into clinical testing. The company plans to complete IND-enabling studies and initiate first-in-human studies in late 2027, with proceeds also funding additional tissue-targeted siRNA programs. The round was co-led by Alpha Wave Ventures and YK Bioventures and included Eli Lilly and other investors. Moonwalk’s approach targets adipose tissue to modulate energy homeostasis and fat-cell biology with an RNAi mechanism designed to preserve lean mass while reducing fat mass in preclinical models. For the obesity pipeline, the financing supports a differentiated alternative to incretin-centered regimens and reinforces investor appetite for genetic medicine delivery formats. If clinical safety and target engagement translate, adipose-directed RNAi could add a new competitive lane beyond GLP-1 and related metabolic drugs.