Kura Oncology spun out Caspian Therapeutics to take its menin inhibitor KO-7246 into early diabetes development, securing $50 million in financing led by BVF Partners with Eli Lilly participating. Kura plans to retain roughly half ownership while shifting dedicated resources and capital to the new company’s diabetes and cardiometabolic pipeline. The spinout reflects a strategy to decouple oncology-led assets from metabolic programs after preclinical evidence suggested menin inhibition can affect pancreatic beta-cell regeneration and insulin production. Caspian will run an initial early-phase clinical trial in diabetes and pursue additional candidates. The funding also highlights how approved leukemia menin inhibitors have become a translational template for metabolic biology programs seeking differentiated mechanisms.