Moonwalk Biosciences Raises $70M for Fat-Targeted RNAi

Moonwalk Biosciences has successfully closed a $70 million Series B funding round, signaling strong investor confidence in its novel approach to metabolic health. The financing, which was oversubscribed, will accelerate the development of its adipose-targeted RNA interference (RNAi) therapies, aiming to offer an alternative or complementary strategy to the dominant GLP-1 class of drugs.

The company's lead candidate, MW101, is slated to enter first-in-human trials by late 2027. This funding injection will also bolster Moonwalk's proprietary discovery platform, which leverages human genetics and multi-omics data to identify new targets in energy balance, fat cell development, and fat breakdown. This platform is central to Moonwalk's strategy of developing precision therapies that act directly on fat tissue biology.

Unlike GLP-1 agonists, which primarily work by mimicking gut hormones to suppress appetite and slow digestion, Moonwalk's RNAi technology targets the genetic mechanisms within fat cells themselves. This distinct mechanism is designed to achieve significant fat reduction while preserving lean muscle mass and avoiding the gastrointestinal side effects commonly associated with incretin-based treatments. Preclinical studies have demonstrated substantial reductions in body weight and fat mass, with preserved muscle, and suggest the potential for infrequent dosing, possibly as infrequent as twice annually, due to durable target engagement in adipose tissue.

The Series B round was co-led by Alpha Wave Global and YK Bioventures. Significant participation came from new investors including Eli Lilly and Gaorong Ventures, alongside existing backers ARCH Venture Partners, Khosla Ventures, and Future Ventures. The involvement of Eli Lilly, a major player in the GLP-1 market, is particularly noteworthy, suggesting a strategic interest in complementary metabolic disease solutions.

Moonwalk Biosciences was founded in January 2024, emerging with $57 million in seed and Series A funding. The company's leadership includes co-founder and CEO Alex Aravanis, formerly CTO of Illumina and founder of GRAIL, and scientific co-founder Feng Zhang, a pioneer in CRISPR gene editing. This new funding round marks a significant step in translating their vision from a precision epigenetic reprogramming focus to a robust RNAi pipeline targeting metabolic disorders.

To bolster its clinical development capabilities, Moonwalk has appointed Dr. Stephen Djedjos as Senior Vice President of Clinical Development. Dr. Djedjos brings over two decades of experience in drug development, including significant roles at companies like Kailera Therapeutics, Mineralys Therapeutics, Sana Biotechnology, Gilead Sciences, and Amgen, where he contributed to the development of the cholesterol drug Repatha. His expertise will be crucial as Moonwalk advances its pipeline toward clinical trials.

The market for metabolic disease treatments is rapidly evolving, with GLP-1s currently dominating. However, the drawbacks of these therapies are creating opportunities for innovative approaches. Moonwalk's focus on directly modulating fat tissue biology via RNAi offers a differentiated strategy that could address unmet needs for patients seeking effective weight management with fewer side effects and better long-term adherence. The company has exclusively licensed adipose-targeting chemistry from China's Suzhou Siran Biotechnology, integrating it with its internal discovery engine.