SAN DIEGO — September 9, 2026
Kura Oncology, Inc. announced the launch of Caspian Therapeutics, Inc., a separately financed company established to advance small-molecule menin inhibitors as potential disease-modifying therapies for diabetes and cardiometabolic diseases. Caspian has secured a $50 million financing led by BVF Partners, with participation from the T1D Fund, Invus, Montanova, Eli Lilly and Company, Kura Oncology, members of Kura’s leadership team and biotech entrepreneurs. The new company was established around KO-7246, a next-generation, highly selective menin inhibitor and related intellectual property contributed by Kura. The financing is expected to support IND-enabling development and initial clinical proof of concept for KO-7246 while also advancing a second menin inhibitor candidate. Kura will retain approximately half ownership of Caspian on a fully diluted basis, allowing it to participate in the potential future value of the new company while maintaining its primary focus on oncology.
Caspian Advances KO-7246 as Potential Disease-Modifying Therapy
Caspian is pursuing menin inhibition as an approach designed to address the underlying loss of pancreatic β-cell function in diabetes, rather than simply managing blood glucose or replacing insulin. Menin acts as a regulatory protein and a brake on pancreatic β-cell proliferation, and preclinical studies conducted by Kura showed that inhibiting menin can selectively expand functional β-cell mass and increase endogenous insulin production. Across multiple animal models of Type 1 and Type 2 diabetes, KO-7246 produced progressive improvements in insulin production and glycemic control accompanied by increased β-cell mass, with effects persisting after treatment discontinuation in the models studied. Kura also observed selective β-cell proliferation and improved β-cell function in human pancreatic islet microtissues and organoid systems, without detecting proliferation of non-β cells. These findings provide the scientific foundation for Caspian’s development strategy and support the company’s plan to test whether menin inhibition can restore endogenous insulin-producing capacity in patients.
$50 Million Financing Supports Clinical Development
The Caspian financing provides dedicated capital to advance KO-7246 toward human clinical testing, separating the diabetes program from Kura’s core oncology operations while maintaining access to Kura’s research, development and corporate capabilities through an intercompany services arrangement. Caspian plans to submit an Investigational New Drug application for KO-7246 as soon as practicable, followed by an initial clinical program evaluating safety, tolerability, pharmacokinetics, pharmacodynamics and measures of β-cell function and endogenous insulin production. The company also intends to advance a second menin inhibitor candidate for diabetes and additional cardiometabolic indications. Caspian will be led by Robert Spencer, Ph.D., as President and Chief Operating Officer, bringing more than two decades of biotechnology and pharmaceutical experience spanning drug development, regulatory strategy and corporate leadership. The financing syndicate, which includes specialist biotech investors as well as the T1D Fund and Eli Lilly, provides external backing for the company’s translational development strategy.
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Kura Extends Menin Expertise Beyond Oncology
The creation of Caspian allows Kura Oncology to leverage its established expertise in menin inhibitor discovery and development while extending the science into a new therapeutic area. Kura has generated extensive clinical and regulatory experience with menin inhibition through its oncology program and the development of KOMZIFTI® (ziftomenib), providing Caspian with expertise in menin biology, medicinal chemistry, translational science and clinical development. KO-7246 was specifically designed as an orally bioavailable, highly selective molecule optimized for chronic metabolic disease applications. Additional preclinical findings have been selected for an oral presentation at the 62nd EASD Annual Meeting on September 29, 2026, focusing on KO-7246 and β-cell regeneration in diabetic rodent and human islet models. With dedicated leadership, external financing and Kura retaining a substantial ownership position, Caspian Therapeutics is positioned to test menin inhibition as a potentially new treatment paradigm for diabetes while Kura continues executing its precision oncology strategy.
Source: Kura Oncology, ,press release
