SAN DIEGO — When Kura Oncology decided to take aim at a protein involved in cell division and signaling, researchers reported a bonus finding: Targeting the protein, menin, didn’t just control the growth of leukemia cells, it also helped control blood sugar levels in animal studies. The biotech on Wednesday announced that it is turning that insight into a new company.
The new firm, Caspian Therapeutics, is launching with $50 million in financing to develop menin inhibitors for diabetes and other cardiometabolic diseases. The initial funding, led by BVF Partners and joined by Eli Lilly and members of Kura’s leadership team, among others, is meant to advance Caspian’s lead small molecule drug through an early-phase clinical trial in diabetes and support the development of a second candidate.
Kura will retain around 50% ownership of Caspian, and Kura CEO Troy Wilson will serve as executive chair of the new biotech’s board. Robert Spencer, who was most recently CEO of Neurommune Therapeutics and has previously led drug discovery programs at Merck, was named Caspian’s head.
STAT+ Exclusive Story
Already have an account? Log in
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.
Already have an account? Log in
Individual plans
Group plans
View All Plans
To read the rest of this story subscribe to STAT+.
Subscribe
