Moonwalk Biosciences Closes Oversubscribed USD 70 Million Series B – Eli Lilly Joins Alpha Wave and YK Bioventures to Back First‑in‑Class Adipose‑Targeted siRNA Candidate MW101

Moonwalk Biosciences, a partner of Siran Bio, announced the completion of an oversubscribed USD 70 million Series B financing round, co‑led by Alpha Wave and YK Bioventures, with participation from global pharmaceutical giant Eli Lilly and Company, Gaorong Ventures, and existing investors ARCH Venture Partners, Khosla Ventures, and Future Ventures. Proceeds will primarily advance MW101 — the companies’ collaborative first‑in‑class adipose‑targeted RNAi candidate for obesity and cardiometabolic diseases — into the clinic, expand Moonwalk’s tissue‑targeted siRNA pipeline, and further progress its proprietary drug discovery platform.

Financing Snapshot

Drug Profile & Mechanism of Action

• Molecule: MW101, a first‑in‑class adipose‑targeted RNAi (siRNA) candidate for obesity and cardiometabolic diseases.
• Target & Modality: Selectively delivers siRNA therapy to adipose (fat) tissue and modulates a novel non‑incretin pathway — a deliberate departure from the GLP‑1/incretin‑centric paradigm dominating the obesity market, representing source‑level innovation from underlying mechanism to therapeutic target.
• Delivery Technology: The adipose‑targeting delivery chemistry was independently developed by Siran Bio and licensed to Moonwalk, originating from Siran Bio’s proprietary STORK‑F adipose‑targeting delivery platform.
• Pharmacological Rationale: STORK‑F enables efficient, selective delivery of siRNA to adipose tissue, allowing precise regulation of energy homeostasis, adipogenesis, lipolysis, and thermogenesis while minimizing off‑target impact on other tissues — a key differentiator for systemic RNAi medicines.
• Partnership Structure: MW101 is a Moonwalk–Siran Bio collaborative project, pairing Moonwalk’s discovery platform with Siran Bio’s delivery IP.

Development Status & First‑in‑Human Timeline

• IND‑Enabling Studies: Progressing smoothly, per the company; specific program details not disclosed.
• First‑in‑Human Trial: Expected to begin by the end of 2027.
• Pipeline Expansion: Series B proceeds will broaden the tissue‑targeted siRNA pipeline beyond the lead adipose program; additional assets and indications: Not disclosed.

Market Impact & Outlook

• Beyond‑Incretin Positioning: With incretin‑based therapies capturing the obesity market’s first wave, a non‑incretin, adipose‑targeted RNAi approach offers a mechanistically complementary route — potentially addressing durability, muscle‑loss, tolerability, and post‑treatment rebound concerns associated with chronic incretin dosing. Specific comparative claims: Not disclosed.
• Strategic Validation: Participation by Eli Lilly and Company — a leading obesity franchise owner — alongside blue‑chip venture backers signals strong strategic interest in next‑generation, tissue‑selective RNAi modalities.
• Oversubscription Signal: An oversubscribed round at USD 70 million reflects investor conviction in both the MW101 asset and the broader tissue‑targeted siRNA platform thesis.
• Platform Synergy: The Siran Bio STORK‑F license gives Moonwalk a proprietary extrahepatic delivery engine — historically one of the hardest bottlenecks in RNA therapeutics, where delivery beyond the liver has limited the field.

Forward‑Looking Statements
This brief contains forward‑looking statements regarding the use of financing proceeds, IND‑enabling study progression, clinical trial initiation timelines, and development expectations for MW101 and Moonwalk Biosciences’ pipeline. Actual results may differ materially due to risks including preclinical and clinical outcomes, regulatory requirements, delivery‑technology performance, and competitive dynamics in the obesity and RNA therapeutics markets.-Fineline Info & Tech