Kura Oncology spun out Caspian Therapeutics to advance menin inhibitors into diabetes and other cardiometabolic indications, backed by Eli Lilly and led with $50 million in Series A funding. The startup’s initial focus is KO-7246, with preclinical work suggesting potential to regenerate pancreatic beta cells and increase insulin production. The spinout matters because it repurposes validated menin biology from oncology into metabolic disease, leveraging Kura’s development experience while ring-fencing the diabetes program for dedicated capital and team buildout. Caspian plans early-phase clinical testing in diabetes. In parallel, investors continued funding early-stage obesity programs, with Moonwalk Biosciences securing $70 million Series B to take MW-101 into Phase I and Luma Group closing a $410 million life sciences fund focused on investments. Overall, these moves signal that metabolic targets are attracting the same structured development approaches increasingly used in oncology—asset segmentation, platform leverage, and sponsor-backed financing to de-risk early clinical progress.