Kura Oncology spun out Caspian Therapeutics to develop small-molecule menin inhibitors for diabetes and other cardiometabolic diseases, starting with KO-7246. Caspian launched with $50 million in Series A financing backed by BVF Partners and Eli Lilly, with Kura retaining about 50% ownership and executive chair roles for Kura leadership. The new company is preparing early-phase clinical testing in diabetes and also intends to build a second candidate from its menin-inhibition franchise. The move reflects a broader strategy shift: repurposing a target-driven mechanism validated in oncology into earlier metabolic indications. The spinout also signals that investors are willing to underwrite mechanism reuse—provided preclinical biology supports a credible translation into human trials for glycemic control.