Kura Oncology launched Caspian Therapeutics to advance a pipeline of small-molecule menin inhibitors. Caspian secured $50 million in a financing round led by BVF Partners.
Eli Lilly and Company, T1D Fund, Invus, and Montanova also participated in the funding. Kura licensed specific menin inhibitors to Caspian and retains approximately 50% ownership in the new entity.
The venture aims to develop therapies that regenerate pancreatic beta cells to address the underlying cause of diabetes. Caspian expects its lead candidate, KO-7246, to enter Phase 1 clinical trials by 2028.
This strategic move allows Kura to prioritize its oncology pipeline while unlocking the value of its metabolic assets.