Kura Oncology has spun out Caspian Therapeutics to pursue next-generation menin inhibition for diabetes and other cardiometabolic diseases, funding the program with a $50 million financing led by BVF Partners and including Eli Lilly as an investor. Kura will retain roughly half of Caspian. Caspian’s lead asset, KO-7246, is designed for chronic metabolic use and is intended to promote beta-cell proliferation and insulin production by blocking the menin “brake.” The round will support IND-enabling studies ahead of first-in-human testing. Kura’s decision to create a dedicated company reflects a shift from oncology-only positioning to a separate metabolic playbook, while retaining operational linkage and R&D infrastructure from the parent. Related funding terms highlight interest in durability of the biology rather than near-term clinical readouts, with Caspian also planning a second, undisclosed menin inhibitor for diabetes and broader cardiometabolic indications.