Moonwalk Biosciences raised $70 million in a Series B to move MW101, an adipose-targeted RNAi obesity candidate, toward first-in-human trials planned for late 2027. The funding supports IND-enabling studies and the advancement of additional siRNA programs focused on distinct adipose mechanisms including lipolysis, adipogenesis, thermogenesis and energy homeostasis. The company’s approach aims to reduce fat without the muscle loss and appetite effects that can accompany incretin-based therapies, with preclinical data describing weight and fat mass reductions in animals while maintaining lean mass. The financing also reflects continued investor appetite for non-incretin metabolic modalities, especially those with tissue-selective delivery intended to improve durability and adherence profiles.