Kura Oncology launches Caspian Therapeutics with $50M funding to develop next-generation diabetes drug

Kura Oncology has created a new biotech called Caspian Therapeutics and secured $50 million in financing to advance a next-generation diabetes treatment.

The spinout will focus on KO-7246, a highly selective menin inhibitor that Kura describes as purpose‑designed for chronic metabolic diseases. Part of the capital will also support development of a second menin inhibitor aimed at diabetes and other cardiometabolic conditions.

Kura will retain a 50% stake in Caspian and is providing the intellectual property and know‑how needed for KO-7246. The funding round was led by BVF Partners and included Eli Lilly, the T1D Fund, Invus, Montanova and several biotech entrepreneurs. Kura recently received FDA approval for its menin inhibitor Komzifti to treat acute myeloid leukemia, underscoring its experience with this drug class.