Moonwalk Biosciences has closed an oversubscribed $70 million Series B financing to advance its pipeline of adipose-targeted RNA interference medicines for obesity and cardiometabolic diseases. The round was co-led by Alpha Wave and YK Bioventures, with participation from Eli Lilly and Company, Gaorong Ventures, and existing investors ARCH Venture Partners, Khosla Ventures, and Future Ventures. The funding will support the lead obesity candidate MW101 as it moves toward first-in-human clinical studies in late 2027.
Financing Details and Strategic Backing
The Series B was oversubscribed and brought together new and existing life science investors. The financing was co-led by Alpha Wave and YK Bioventures, while Eli Lilly and Company and Gaorong Ventures joined as new participants, and existing backers ARCH Venture Partners, Khosla Ventures, and Future Ventures also contributed. Proceeds will advance Moonwalk's lead obesity program into the clinic, accelerate additional tissue-targeted siRNA medicines, and further develop the company's proprietary discovery platform.
A Differentiated Adipose-Targeted Approach
Moonwalk's programs are designed to deliver siRNA therapeutics selectively to adipose tissue. This enables precise modulation of novel, non-incretin pathways that underlie obesity and related metabolic conditions. The company integrates human genetics, epigenomics, multi-omics discovery, and proprietary tissue-targeting chemistry, exclusively licensed from Suzhou Siran Biotechnology, to modulate pathways involved in energy homeostasis, adipogenesis, lipolysis, and thermogenesis.
Preclinical Evidence and Lead Candidate
Across multiple preclinical studies, Moonwalk has reported robust reductions in body weight and fat mass while preserving lean muscle without reducing food intake, and non-human primate data showed durable target engagement after a single dose. The company has also generated translational evidence of favorable metabolic pathway modulation consistent with healthy adipose remodeling. Lead candidate MW101 is expected to enter first-in-human clinical studies in late 2027 following completion of ongoing IND-enabling studies.
Leadership Expansion
In conjunction with the financing, Moonwalk appointed Dr. Stephen Djedjos as Senior Vice President of Clinical Development. He brings more than 20 years of clinical and drug development experience, most recently serving at Kailera Therapeutics where he led clinical development for incretin therapies. His prior roles include Mineralys Therapeutics, Sana Biotechnology, Gilead Sciences, and Amgen, where he contributed to the development and approval of Repatha.
Investor Perspectives
Chief Executive Officer Alex Aravanis said the financing brings the company closer to a new generation of adipose-targeted medicines for obesity and related cardiometabolic diseases. Rick Gerson of Alpha Wave Global noted that Moonwalk is pursuing a fundamentally different treatment approach that may redefine care through durable efficacy, lean muscle preservation, and infrequent dosing. Chris Dimitropoulos of Alpha Wave Global highlighted the depth of the science and the strength of preclinical evidence generated to date.
Company Vision and Pipeline Goals
Moonwalk is advancing multiple additional tissue-targeted siRNA programs for obesity and cardiometabolic diseases in parallel with MW101. The company's AI-enabled discovery platform integrates human genetics, epigenomics, and multi-omics with adipose-selective siRNA chemistry to identify and validate novel therapeutic targets. Its therapies are designed to preserve lean mass, improve tolerability, and enable infrequent dosing while addressing the underlying biology of obesity and metabolic disease.
Moonwalk's oversubscribed Series B positions the company to advance a distinct class of adipose-targeted RNAi therapies into clinical development. With a syndicate that includes strategic pharmaceutical participation and continued support from existing investors, the company is building momentum toward late-stage preclinical and early clinical milestones. The planned progression of MW101 and additional pipeline programs reflects a broader effort to address obesity and cardiometabolic disease through tissue-selective biology rather than appetite suppression alone.