New biotech Caspian Therapeutics raises $50 million to develop menin-targeted diabetes drugs
Caspian Therapeutics, spun out of Kura Oncology, secured $50 million to advance menin inhibitors for diabetes and related cardiometabolic conditions.
Animal studies showed that inhibiting the menin protein, originally targeted by Kura Oncology for leukemia, also improved glucose regulation. Building on this finding, Kura launched a separate venture called Caspian Therapeutics to focus on menin-based therapies for diabetes and other cardiometabolic diseases. The new company announced a $50 million financing round, with BVF Partners as lead investor and contributions from Eli Lilly and members of Kura’s management team.
The capital will fund a first-in-human trial of Caspian’s lead small-molecule menin inhibitor in diabetic patients and further development of a second candidate. Kura will keep about 50 % ownership, and its chief executive Troy Wilson will serve as executive chair of Caspian’s board. Robert Spencer, formerly CEO of Neurommune Therapeutics and ex-Merck drug-discovery leader, was named head of the biotech.
Why it matters
The funding could accelerate a novel diabetes treatment that stems from cancer research, potentially expanding therapeutic options for a widespread disease.
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