Slides
Page 1
Slide 1 Corporate Presentation June 2025
Page 2
Corporate Presentation June 2025 2 Legal Disclaimer & Forward-Looking Statement Certain statements in this presentation and the accompanying oral commentary are forward -looking statements. These statements relate to future events or the future business and financial performance of Biomea Fusion, Inc. (the “Company”) and involve known and unknown risks, uncertainties and other factors that may cause the actual res ults, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “ intend,” “believe,” “estimate,” “predict,” “potential” or other comparable terminology. All statements other than statements of historical fact could be deemed forward -looking, including any projections of financial information or profitability, the initiation, timing and results of pending or future preclinical studies and clinical trials, the actual or potential acti ons of the Food and Drug Administration (FDA), the status and timing of ongoing research, development and corporate partnering activities, any statements about historical results that may suggest t rends for the Company's business; any statements of the plans, strategies, and objectives of management for future operations, any beliefs and expectations regarding the proposed pu blic offering, uncertainties related to market conditions and statements regarding timing, size and expected proceeds of the proposed offering, and any statements of expectation or belief regarding future events, potential markets or market size, or technology developments. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. Whi le the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward -looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. For a discussion of these and other risks and uncertainties, a nd other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in our most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the Securities and Exchange Commission (the SEC), as well as discussions of potential risks, uncertainti es, and other important factors in our other subsequent filings with the SEC. The forward-looking statements in this presentation are made only as of the date hereof. Except as required by law, the Company assumes no obligation and does not intend to update these forward-looking statements or to conform these statements to actual results or to changes in the Company' s expectations. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assu mptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Certa in information contained in this presentation relates to or is based on studies, publications, surveys and other data obtained from third -party sources and the Company’s own internal estimates and research. While the Company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this presentation involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while we believe our own internal research is relia ble, such research has not been verified by any independent source. A registration statement on Form S-3 has been filed with and declared effective by the SEC. The offering of these securities wil l be made only by means of a prospectus supplement and base prospectus forming part of the effective registration statement relating to the shares. Copies of the prospectus supplem ent for this offering may be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telep hone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any s uch state or jurisdiction.
Page 3
Corporate Presentation June 2025 3 Biomea Fusion: Oral Small Molecules For Diabetes and Obesity Potentially transformative disease-modifying activity in type 2 diabetes (T2D): Targets a root cause by restoring functional beta cells to enable endogenous insulin production – A result not achieved by currently available therapies Icovamenib is a menin inhibitor showing an emerging competitive clinical profile, demonstrating significant and durable HbA1c reductions, up to ~1.5% sustained well beyond end of treatment Oral, short-course therapy designed for durability and boost adherence and persistence, addressing a key barrier in chronic T2D management Addresses a critical unmet need in insulin-deficient T2D, the most vulnerable patient group at highest risk of macrovascular (CV) complications, rapid treatment failure, and fastest progression to insulin dependence Synergistic with GLP-1 therapies, expanding reach across broader T2D populations, and demonstrating additional benefits in weight loss, glucose control and muscle mass preservation in preclinical combination studies Efficient and cost-effective clinical pathway, with potential for a shorter Phase III program due to short term treatment - based on initial regulatory feedback Advancing BMF-650, a next-generation oral GLP-1 RA with best-in-class potential, into clinical development later this year
Page 4
Corporate Presentation June 2025 4 Anticipated Milestones for 2H 2025 ICOVAMENIB Menin Program (Potential First-In- Class) Type 2 Diabetes Type 1 Diabetes COVALENT-111 Phase II COVALENT-112 Phase II Study Indications IND-Enabling Studies BMF-650 Oral GLP-1RA Diabetes/Obesity Weight Reduction in Obese Monkeys Preclinical Update – 2Q 2025 Planned Initiation of Phase I Study in Obese Healthy Volunteers 2H 2025 Type 2 Diabetes Severe Insulin Deficient Diabetes COVALENT- 211 Phase IIb 52 Week Follow-up Data (26 Week Follow-up Data announced 12/24) FDA Type C Meeting Update Planned Initiation of Phase IIb in Severe Insulin Deficient Patients (discuss Phase III Pgm requirements) Biomea Fusion: A Diabetes and Obesity Medicines Company “We believe we may have a method to reverse diabetes, to reset the body, so diabetes patients no longer require ongoing medication. ” 52 Week Follow-up Data from those patients that completed original 12 weeks of dosing Type 2 Diabetes Combination with GLP-1 based therapies Planned Initiation of Phase II in Patients uncontrolled on GLP-1 based therapies COVALENT- 212 Phase II
Page 5
Corporate Presentation June 2025 5 Biomea Fusion Pipeline Summary: Two High-Value Programs Targeting Unmet Needs in Diabetes & Obesity ICOVAMENIB BMF-650 Mechanism of Action Novel Menin Inhibition Enhanced insulin production driven by a restored and functionally improved pool of pancreatic beta cells Oral GLP-1 RA Demonstrated in preclinical studies, appetite suppression comparable to orforglipron with potential improved tolerability Route of Administration Oral Oral Program Highlights Greatest HbA1c reductions were observed in insulin-deficient diabetes patients among all patients in the study (a population with poor glycemic control and limited treatment options) Durable HbA1c improvement sustained through week 26, over 3 months after last dose (follow-up through week 52 is ongoing) In combination with GLP-1 RA, icovamenib enhanced insulin secretion, drove quality weight loss, and preserved muscle mass Built on similar scaffold as orforglipron Drive for Best-in-Class Status with optimized exposure profile Improved PK properties (greater bioavailability, less variability, and well sustained exposure during dosing intervals) Increased AUC to drive greater weight loss and tolerability (higher plasma protein binding for better tolerability) Superior glucose regulation and robust weight loss efficacy in non- human primates Market Opportunity Over 7M1 Addressable U.S. Target Patients and over 11M2 in the EU $6B current US gross revenue potential (10% uptake x $10k in target T2D patients3) Current estimates for U.S. obesity drug market is approximately $50B3 annual US gross revenue potential by 2030 Anticipated Milestone 52 Week Data Read Out expected in 2H 2025 Phase IIb study proposal expected to be shared with FDA in 2H 2025 Weight Reduction in Obese Monkeys Preclinical Update – Expected 2Q 2025 IND submission targeted for 2H 2025 1. Zohu Lancet 2024; 404: 2077–93 2. IDF www.diabetesatlas.org 3. Horizon Grand View Research and Morgan Stanely research estimates
Page 6
Corporate Presentation June 2025 6 Program/ Asset Route of Admin Pre-Clinical Phase I Phase II Phase III Global Rights Next Milestone in 2H 2025 Icovamenib Potential First-in-Class Oral Menin Inhibitor Monotherapy with combo potential Oral 52 Week Follow up data expected 2H 2025 Commencement of Phase IIb study expected in 2H 2025 Commencement of Phase IIa study expected in 2H 2025 BMF-650 Potential Best-in-Class Oral GLP-1 RA Monotherapy Oral IND clearance expected in 2H 2025 Commencement of Phase I in 2H 2025 Biomea Pipeline: Advancing Potential First-in-Class and Best-in-Class Approaches for Diabetes and Obesity Type 2 Diabetes Type 2 Diabetes – Combo Study with GLP-1 - RA Obesity/ Type 2 Diabetes Type 2 Diabetes - Severe Insulin Deficiency COVALENT-111 – T2D ongoing COVALENT-211 – T2D planned COVALENT-212 – T2D planned IND Enabling Studies
Page 7
Corporate Presentation June 2025 7 Short Course of Icovamenib Demonstrated Clinically Significant Impact on HbA1c Reductions in a Severe Insulin-Deficient Population Placebo-Adjusted Mean Change in HbA1c at Week 26 = 1.5% (p=0.02) Patients Uncontrolled with at Least 1 Prior Therapy Oral Icovamenib Regimen Ends at 12 Weeks, HbA1c Continues to Decrease: 52-week Data Expected 2H 25
Page 8
Corporate Presentation June 2025 8 $6B + Estimated U.S. Revenue Potential (based on 10% penetration at 10K/yearly) 2022 Global Estimates1 150M Severe Insulin- Deficient T2D worldwide cases 2025 U.S. Estimates2 7M Severe Insulin- Deficient T2D US cases 60+ approved T2D therapies, all chronic agents and none address a root cause of the disease of all T2D patients are severely insulin-deficient, this group has the highest failure rates among all T2D subgroups3 1. Zohu Lancet 2024; 404: 2077–93 (adjusted by company to account for Severe Insulin-deficient patients). 2. IDF www.diabetesatlas.org. 3. Fendo2022 doi: 10.3389/fendo.2022.927661 https://doi.org/10.1371/journal.pone.0304036. High Unmet Need in Patients with Severe Insulin-Deficient Type 2 Diabetes Depending on ethnicity 18-44%
Page 9
Corporate Presentation June 2025 9 Mean Time to Loss of Glucose Control (HbA1c>7%) Impact of tirzepatide on HbA1c: Sustained Reduction During Treatment, Rebound After Discontinuation Nathan, et al. N Engl J Med 2022;387:1063-107 Kubota M, et al. Cureus. 2023 Oct 4;15(10) Current Chronic Diabetes Treatments: Despite Initial Effectiveness, There is No Lasting Impact Despite a multitude of standard-of-care therapies, 50% of people with diabetes continue to have uncontrolled glucose levels. There is a need for novel, durable solutions to improve long-term outcomes.
Page 10
Corporate Presentation June 2025 10 Challenges with Current Standard of Care: Many Patients Fail to Achieve Glycemic Control or Stay on Therapy Poor Adherence is a Key Driver of the Efficacy Gap Between Clinical Trial Results and Real-World Results3 Discontinuation rates of T2D Therapies1-2 1. Khan, et al. JAMA 2024 doi:10.1001/jama.2024.22284. 2. Alkabbani W, et al. Diabetes Obes Metab. 2023;25:3490-3500 3. Edelman S. Diabetes Care 2017;40(11):1425–1432 bOptum/Humedica SmartFile database (2007–2014) was used [GLP-1 RA (221 patients); DPP-4i (652 patients)]. Change in HbA1c measured from drug initiation to 365±90 days later. cMedical adherence classified as poorly adherent if percentage of days covered (PDC) <80%.
Page 11
Corporate Presentation June 2025 11 Today’s T2D Agents are not Addressing a Root Cause of Diabetes: The Progressive Decline in Beta-Cell Mass and Function Adapted from DeFronzo RA. Diabetes. 2009;58:773-795. Loss of Beta-Cell Function A Root Cause of Diabetes Leading to Insulin Deficiency Nat Rev Endocrinol. 2016;12:337–346 Currently Approved Therapies Target the Symptoms of T2D, Not a Root Cause HYPERGLYCEMIA Beta-cell function (%) Years from diagnosis
Page 12
Corporate Presentation June 2025 12 Mild obesity- related diabetes (MOD) Type 2 Diabetes (T2D) is a Heterogeneous Disease – Two Core Drivers Analysis from two independent 4,000 patient studies, (ADOPT and RECORD) INSULIN-DEFICIENT DIABETES INSULIN RESISTANT DIABETES Ahlqvist et al. Lancet Diabetes Endocrinol 2018; 6: 361–69 18% Severe insulin- deficient diabetes (SIDD) Mild age-related diabetes (MARD) 39% 22% 15% Severe insulin resistant diabetes (SIRD) Median HOMA-B 49% Median HbA1c 8.3% Median BMI 29 kg/m2 Median HOMA-B 64% Median HbA1c 7.0% Median BMI 29 kg/m2 Median HOMA-B 74% Median HbA1c 7.2% Median BMI 36 kg/m2 Median HOMA-B 101% Median HbA1c 7.0% Median BMI 34 kg/m2 Initial target group for icovamenib
Page 13
Corporate Presentation June 2025 13 Increased Beta Cell Mass and Function Increased GLP-1 Receptor Expression & Incretin Effect Beta Cell Quantity & Function GLP-1 Receptor Expression Dual Effect Enhanced Weight Loss with Preservation of Muscle Mass in Preclinical Combination Studies Increased Insulin Synthesis and Secretion Icovamenib: Potential First-in-Class Disease Modifying Candidate for Diabetes Mechanism of Action: Selective & Partial Menin Inhibition Icovamenib Differentiating Features Oral – Convenient, once- daily oral therapy Non-Chronic – Limited duration dosing with sustained effect Well Tolerated – Favorable safety profile observed to date MOA complementary to other agents used
Page 14
COVALENT-111 Phase 2a Double-Blinded, Randomized Placebo Controlled Study in Type 2 Diabetes Topline Results at 26 Weeks
Page 15
15Corporate Presentation June 2025 Trial Design Phase 2a Randomized, Double-Blind, Placebo-controlled Study in Participants with T2D COVALENT-111 Expansion Cohort 3:1 N=216 Planned Participants Eligibility Criteria • Adults (18-65 years) with T2D (<7 years) • HbA1c 7.0-10.5% • BMI 25-40 kg/m2 • Treated with up to 3 antidiabetic agents (excluding insulin and SFUs) • N=72 participants per arm (3:1 ratio, icovamenib: PBO) icovamenib x12 wks 100 mg (QD)
Page 16
16Corporate Presentation June 2025 Baseline Demographics and Characteristics Per Protocol Population on 1 or more antihyperglycemic agents at baseline (N=165) Parameter Mean (SD) or % Arm A Icovamenib (8 weeks of dosing 100mg QD) (N=45) Arm B Icovamenib (12 weeks of dosing 100 mg QD) (N=37) Arm C Icovamenib (8 weeks of 100 mg QD + 4 weeks of 100 BID) (N=33) Combined Arms icovamenib (N=115) Combined Arms Placebo (N=50) Age (yr) 55 (7) 56 (6) 51 (10) 54 (8) 55 (7) Duration of T2D Diagnosis (yr) 4.3 (1.8) 4.7 (1.8) 4.2 (2.2) 4.4 (1.9) 4.3 (2.0) Sex (% Female) 31 54 36 40 42 HbA1c (%) 8.3 (1.1) 8.3 (1.0) 8.0 (0.8) 8.2 (1.0) 8.3 (1.0) Fasting C-peptide (ng/mL) 3.4 (1.2) 3.9 (1.7) 3.7 (1.8) 3.7 (1.5) 3.5 (1.4) BMI (kg/m2) 30.9 (4.7) 32.6 (4.5) 32.4 (4.9) 31.9 (4.7) 32.6 (4.1) BMI <30 kg/m2 (%) 49 24 30 36 26 BMI ≥30 kg/m2 (%) 51 73 70 63 74 COVALENT-111 Expansion Cohort Demographics and baseline characteristics were well matched between icovamenib- and placebo-treated participants
Page 17
17Corporate Presentation June 2025 Antihyperglycemic Agents at Baseline Per Protocol Population on 1 or more antihyperglycemic agents at baseline (N=165) Parameter Arm A Icovamenib (8 weeks of dosing 100mg QD) (N=45) Arm B Icovamenib (12 weeks of dosing 100 mg QD) (N=37) Arm C Icovamenib (8 weeks of 100 mg QD + 4 weeks of 100 BID) (N=33) Combined Arms icovamenib (N=115) Combined Arms Placebo (N=50) Number of T2D Medications, n (%) 0 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) 1 39 (87) 23 (62) 23 (70) 85 (74) 41 (82) 2 4 (9) 11 (30) 7 (21) 22 (19) 7 (14) 3 2 (4) 3 (8) 3 (9) 8 (7) 2 (4) Metformin Monotherapy, n (%) 36 (80) 18 (49) 22 (67) 76 (66) 38 (76) SGLT2i, n (%) 6 (13) 13 (35) 8 (24) 27 (23) 8 (16) DPP4i, n (%) 3 (7) 5 (14) 3 (9) 11 (10) 2 (4) GLP-1 based agent, n (%) 3 (7) 3 (8) 5 (15) 11 (10) 4 (8) COVALENT-111 Expansion Cohort Most participants treated with metformin monotherapy with approximately 20% treated with SGLT2i, 10% with DPP4i, and 10% with GLP-based medicines
Page 18
18Corporate Presentation June 2025 T2D Subtype at Baseline Per Protocol Population on 1 or more antihyperglycemic agents at baseline (N=165) Parameter Arm A Icovamenib (8 weeks of dosing 100mg QD) (N=45) Arm B Icovamenib (12 weeks of dosing 100 mg) QD (N=37) Arm C Icovamenib (8 weeks of 100 mg QD + 4 weeks of 100 BID) (N=33) Combined Arms icovamenib (N=115) Combined Arms Placebo (N=50) SIDD, n (%) 12 (27) 7 (19) 4 (12) 23 (20) 11 (22) MARD, n (%) 11 (24) 6 (16) 5 (15) 22 (19) 8 (16) MOD, n (%) 20 (44) 21 (57) 23 (70) 64 (56) 27 (54) SIRD, n (%) 2 (4) 3 (8) 1 (3) 6 (5) 4 (8) SIDD = Severe Insulin-Deficient Diabetes MARD = Mild Age-Related Diabetes MOD = Mild Obesity-Related Diabetes SIRD = Severe Insulin-Resistant Diabetes COVALENT-111 Expansion Cohort Despite all participants being overweight or obese, approximately 40% were in the insulin-deficient subgroups (SIDD and MARD)
Page 19
19Corporate Presentation June 2025 Change in HbA1c from Baseline at Week 26 by Study Arm Per Protocol Population taking 1 or more antihyperglycemic medications at baseline, by study arm (A, B, C, and Placebo) All Participants Across Arms A, B, and C Mean Change in HbA1c Over Time (n=115 Active; n=50 Placebo) Icovamenib Treatment Period Icovamenib Off -Treatment Period -0.8 -0.6 -0.4 -0.2 0 0.2 0.4 Wk 0 Wk 4 Wk 8 Wk 12 Wk 16 Wk 22 Wk 26 Mean Change HbA1c (%) Time (Weeks) Placebo Arm A Arm B Arm C COVALENT-111 Expansion Cohort (N=50) (N=45) (N=37) (N=33) P=0.16 P=0.01* P=0.13
Page 20
20Corporate Presentation June 2025 COVALENT-111 Expansion Cohort Change in HbA1c from Baseline at Week 26, SIDD Participants Per Protocol Population taking 1 or more antihyperglycemic medications at baseline (study arms combined and placebo) Arm A, B, and C (n=23 Active; n=11 Placebo) Arm B (n=7 Active; n=11 Placebo) Participants with Pre-specified Severe Insulin-Deficient Diabetes Mean Change in HbA1c Over Time Arm A: 8 weeks of dosing 100mg QD; Arm B: 12 weeks of dosing 100 mg QD; Arm C: 8 weeks of 100 mg QD + 4 weeks of 100 BID
Page 21
21Corporate Presentation June 2025 Despite Short Course Oral Dosing, Icovamenib Performed in Line with GLP-1 RA Therapies on HbA1c Reduction within Severe Insulin-Deficient Subgroup Currently Approved Type 2 Diabetes Agents w/Chronic Dosing Therapy Dosing Regimen Administration Route Observation Period Mean HbA1c Reduction (placebo adj. %) ICOVAMENIB (Menin Inhibitor) 12 Weeks Oral Week 26 -1.5% (100mg) Ozempic (GLP 1 Agonist) Chronic Dosing Injectable Week 30 -1.2 (0.5mg) -1.5 (1mg) Mounjaro (GLP-1/GIP Agonist) Chronic Dosing Injectable Week 40 -1.7 (5mg) -1.6 (15mg) Jardiance (SGLT2 Inhibitor) Chronic Dosing Oral Week 24 -0.7 (10mg) -0.9 (25mg) Januvia (DPP4 Inhibitor) Chronic Dosing Oral Week 24 -0.8 (100mg) Ozempic FDA Label; Mounjaro FDA Label; Jardiance FDA Label; Januvia Label Disclaimer: The data presented above are based on cross-study comparisons and are not based on any head-to-head clinical trials. Cross-study comparisons are inherently limited and may suggest misleading similarities and differences. The values shown in the cross-study comparisons are directional and may not be directly comparable.
Page 22
22Corporate Presentation June 2025 • The C-peptide Index is a well-validated measure of beta-cell function (C-peptide per unit of glucose as measured during OGTT, a standardized test). By comparing the levels of C-peptide to glucose, healthcare providers can evaluate how effectively the pancreas is producing insulin in response to blood glucose levels. • The lowest insulin production occurred in participants with Severe Insulin-Deficient Diabetes • By contrast, the highest insulin production occurred in participants with Severe Insulin-Resistant Diabetes Severe Insulin- Deficient Diabetes Mild Age- Related Diabetes Mild Obesity- Related Diabetes Severe Insulin- Resistant Diabetes Pre-specified Patients with Severe Insulin-Deficient Diabetes had the Lowest Baseline Insulin, as Measured by the C-peptide Index during a 2-hour OGTT C-peptide Index at Baseline (mITT Population) C-peptide Index (10^4*(ng/mL/mg/dL)) Mean 631Mean 240Mean 222Mean 153
Page 23
23Corporate Presentation June 2025 Insulin-Deficient participants demonstrated an increase in C-peptide over time Insulin-Resistant participants did not demonstrate an increase in C-peptide over time COVALENT-111 Expansion Cohort Icovamenib Increased Insulin Secretion (measured by C-peptide) in Insulin-Deficient, but Not in Insulin-Resistant T2D SIDD, Severe Insulin-Deficient Diabetes MARD, Mild Age-Related Diabetes MOD, Mild Obesity-Related Diabetes SIRD, Severe Insulin-Resistant Diabetes Active (N=23) Placebo (N=11) Active (N=6) Placebo (N=4) Active (N=22) Placebo (N=8) Active (N=63) Placebo (N=27) Week Week Week Week
Page 24
24Corporate Presentation June 2025 Icovamenib Increased Insulin Secretion as Measured by C-peptide At Week 26, there was a 53% increase in insulin secretion, with more than half of the increase occurring after icovamenib treatment ended COVALENT-111 Expansion Cohort 53% mean increase in C-peptide in patients with Severe Insulin-Deficient Diabetes (Arms A, B, and C; N=23) Icovamenib Treatment Period 53% 7% Active (N=23) Placebo (N=11) Pre-specified Patients with Severe Insulin-Deficient Diabetes C-peptide Index Change from Baseline During OGTT Fold Change in C-Peptide
Page 25
25Corporate Presentation June 2025 Pre-specified Severe Insulin-Deficient Diabetes Participants (Arms A, B, and C) n=23 Change from Baseline at Week 26 in C-peptide Index Versus HbA1c COVALENT-111 Expansion Cohort C-peptide Index (CPI) = 104 x Mean AUC C-peptide/Mean AUC glucose Active (N=23)
Page 26
26Corporate Presentation June 2025 Overview of Treatment Emergent Adverse Events Through 26 Weeks (Safety Population, N=267) Parameter Arm A icovamenib (N=67) Arm B icovamenib (N=66) Arm C icovamenib (N=67) Combined Arms icovamenib (N=200) Combined Arms placebo (N=67) Patients with ≥1 TEAE 18 (27) 20 (30) 14 (21) 52 (26) 19 (28) SAEs* 1 (1) 0 (0) 1 (1) 2 (1) 1 (1) Treatment Discontinuation due to TEAE 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Study Discontinuation due to TEAE 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Deaths 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Data are n (%) TEAE, Treatment Emergent Adverse event SAE, Serious adverse event *Arm A had an SAE of atrial fibrillation. Unrelated to study treatment and occurred during the treatment period. Subject required hospitalization and was discharged in 3 days. Subject continued in the study. *Arm C had an SAE of COVID-19. Unrelated to study treatment and occurred during the treatment period. Subject required hospitalization and was discharged in 3 days. Subject continued in the study. *Placebo Arm had an SAE of nephrolithiasis. Unrelated to study treatment and occurred during the treatment period. Subject required hospitalization and was discharged in 3 days. Subject continued in the study. COVALENT-111 Expansion Cohort
Page 27
27Corporate Presentation June 2025 Treatment Emergent Adverse Events (TEAEs) Occurring in ≥5% in any Study Arm and TEAEs reported for ALT and/or AST Elevations (Safety Population, N=267) Parameter Arm A icovamenib (N=67) Arm B icovamenib (N=66) Arm C icovamenib (N=67) Combined Arms icovamenib (N=200) Combined Arms placebo (N=67) Diarrhea 4 (6) 2 (3) 1 (1) 7 (4) 0 (0) Nausea 2 (3) 3 (5) 2 (3) 7 (4) 1 (1) Hyperglycemia 1 (1) 4 (6) 1 (1) 6 (3) 3 (4) Headache 0 (0) 3 (5) 1 (1) 4 (2) 3 (4) ALT increase 2 (3) 0 (0) 2 (3) 4 (2) 0 (0) AST increase 2 (3) 0 (0) 1 (1) 3 (2) 0 (0) Data are n (%) of TEAE with ≥5% frequency in any arm and ALT or AST increase irrespective of incidence; Safety population TEAE, treatment-emergent adverse event; ALT, alanine aminotransferase; AST, aspartate aminotransferase Diarrhea: In the icovamenib arms, all 7 events were Grade 1. Nausea: In the icovamenib arms, 6 of 7 events were Grade 1 and 1 event was Grade 2 (Arm B). In the placebo arm, the 1 event was Grade 1. Hyperglycemia: In the icovamenib arms, 5 of 6 events were Grade 2 and 1 event was Grade 1 (Arm C). In the placebo arm, all 3 events were Grade 2. Headache: In the icovamenib arms, 3 of the 4 events were Grade 1 and 1 event was Grade 2 (Arm B). In the placebo arm, 2 of the 3 events were Grade 1 and 1 event was Grade 2. ALT increase: In the icovamenib arms, 3 of the 4 events were Grade 1 and 1 event was Grade 2 (Arm A). AST increase: In the icovamenib arms, all 3 events were Grade 1. COVALENT-111 Expansion Cohort
Page 28
28Corporate Presentation June 2025 COVALENT-111 Expansion Cohort Subjects with TEAE of Hypoglycemia (Safety Population, N=267)
Page 29
Corporate Presentation June 2025 29 Summary and Conclusions Simple, easy and only short term Addresses the most critical patient population Validation of MoA Menin inhibition Potential for long-term beta-cell restoration Clinically meaningful, durable and sustained results at Week 26 (1) Well-tolerated, mirroring placebo Complementary to commonly used therapies 12-week oral dosing led to 1.5% placebo-adjusted HbA1c reduction at Week 26 (p=0.02) in patients with severe insulin-deficient diabetes With menin inhibition a change in HbA1c was achieved that was highly correlated with a change in stimulated C-peptide (r=-0.7335 and P=0.0001) Insulin-deficient patients who received icovamenib demonstrated a persistent increase in C- peptide levels beyond the active treatment period, over 3 months after the final dose of icovamenib Pre-specified severe insulin-deficient diabetes in Arm B (100 mg QD X 12 weeks) showed a statistically significant placebo-adjusted mean reduction in HbA1c of 1.5% at Week 26 (p=0.02) No clinically significant elevations in aminotransferases and no treatment emergent hypoglycemia And competitively differentiated as a precision approach for type 2 diabetes Improvements in glycemic control were most significant in participants with severe insulin- deficient diabetes, who have the highest unmet need in diabetes, highest comorbidities, and failure rate, and required insulin earlier than other subgroups 1-2 1. Ahlqvist, et al. The Lancet Diabetes & Endocrinology (2018) 6(5), 361–369 2. Sanz-Pastor, et al Front. Endocrinol., 13 March 2024
Page 30
Corporate Presentation June 2025 30 Key Opinion Leader FIRST RESPONSES “Icovamenib's recent data has shown an impressive restoration of beta cell function as demonstrated by significant elevations in C-peptide even after the treatment period ended. This data validates the mechanism of action of this menin inhibitor as a disease modifying agent and helps address the poor adherence and persistence commonly seen in type 2 diabetes. ” Steve Edelman, M.D., Endocrinologist, Professor of Medicine UCSD / VA San Diego “The icovamenib data looks exciting. After 26 weeks there have been statistically significant and clinically relevant reductions in HbA1c and excellent tolerability in a prespecified insulin-deficient type 2 diabetes cohort. The data presented today help to confirm icovamenib’s mechanism of action. A robust increase in insulin secretion, as measured by C-peptide, was demonstrated 3 months after the icovamenib dosing period and this improvement appears to be continuing. We have not previously seen data like this with any antihyperglycemic agent. As more trials are conducted, I believe that inhibition of menin may lead to benefits across all subtypes of diabetes. I applaud Biomea for developing a potential new treatment option that may be disease modifying for patients with diabetes. ” Ralph DeFronzo, M. D., Endocrinologist, Professor of Medicine UTHSCSA “Great foray into precision medicine. We need to be addressing patients in a much more individualized manner. By addressing insulin-deficient diabetes patients with icovamenib, we have seen post treatment that the beta cell pool is being restored and producing a higher level of insulin, as measured by C-peptide. This indicates a fundamental and potentially lasting impact on the disease and validates the mechanism of action of menin inhibition. ” Melanie Davies, M.D., Diabetologist, Professor of Diabetes Medicine at the University of Leicester
Page 31
Corporate Presentation June 2025 31 Key Opinion Leader FIRST RESPONSES “Icovamenib is a very interesting molecule that acts quite differently than anything I have seen before. We are observing glucose controlled and beta cell-specific proliferation and an increase in stimulated C-peptide secretion leading to patient benefits that continued after the icovamenib dosage ended. I am very excited to further explore the many opportunities that the covalent inhibition of menin will provide to patients.” Rohit Kulkarni, M.D., Ph.D., Professor of Medicine at Harvard Medical School “The C-peptide data which was presented during ATTD is a meaningful update, as we now have insight into why insulin- deficient patients may respond better to icovamenib treatment. The potential to restore endogenous insulin production capacity is an exciting development in the treatment of type 2 diabetes.” Jeremy Pettus, M.D., Endocrinologist, Professor of Medicine UCSD “We do not have an agent today that addresses one of the root cause of diabetes - beta cell dysfunction - icovamenib would be the first. Patients are achieving lasting benefits without continuous chronic dosing, suggesting that icovamenib may be disease modifying. I am very impressed.” Alice Cheng, M.D., Endocrinologist, Associate Professor of Medicine University of Toronto “The Icovamenib data are quite interesting because of the continued effects despite having stopped it for 14 weeks. Usually, one would expect to see the HbA1c levels climb towards baseline when the medication is stopped, but with Icovamenib, the HbA1c levels decreased, which is quite intriguing and unprecedented. ” Julio Rosenstock, MD., Director Velocity Clinical Research at Medical City Dallas and Clinical Professor of Medicine, Univ. of Texas Southwestern Medical Center
Page 32
In Combination with GLP-1 Based Therapies in Preclinical / Clinical Experiments Icovamenib
Page 33
Corporate Presentation June 2025 33 Menin suppresses GLP-1 receptor signaling* *AJP-Endocrinol Metab • doi:10.1152/ajpendo.00241.2016 • www.ajpendo.org; J. Cell Biol. 2019 Vol. 218 No. 3 855–870; The FASEB Journal. 2025;39:e70370.
Page 34
Corporate Presentation June 2025 34 Cadaver derived human islets Combination Treatment: Icovamenib enhanced responsiveness of islets to GLP-1/GIP dual receptor agonist Tirzepatide Day 1 Perform Glucose Stimulated Insulin Secretion -/+ Tirzepatide Culture 7 days under glucotox conditions (8 mM glucose) DMSO Icovamenib, 30 nM Icovamenib, 100 nM Day 8 Icovamenib, 300 nM Non-diabetic donor: 38-year old white male, BMI: 29.2, HbA1C 5.2% Glucose Stimulated Insulin Secretions increased by 58 to 186% with combination of icovamenib + tirzepatide vs tirzepatide alone Glucose Stimulated Insulin Secretion
Page 35
Corporate Presentation June 2025 35 Combination treatment of icovamenib and low-dose semaglutide reduces body weight and boosts lean mass fraction relative to baseline Fasting blood glucose reduced to normal range in combination group Significant reduction in combination group vs. semaglutide
Page 36
36Corporate Presentation June 2025 Arm A: 8 weeks of dosing 100mg QD; Arm B: 12 weeks of dosing 100 mg QD; Arm C: 8 weeks of 100 mg QD + 4 weeks of 100 BID Icovamenib displayed clinically meaningful 0.8% reduction in HbA1c in participants uncontrolled on GLP-1-based therapies at Baseline Change in HbA1c from Baseline to Week 26 in Patients Taking GLP1-RA of Clinical Study COVALENT-111 (n=10) COVALENT-111 Expansion Cohort n=10 n=3 n=3 n=4 -1 -0.8 -0.6 -0.4 -0.2 0 All Participants Arm A Arm B Arm C Placebo-adjusted Mean Change HbA1c (%) -0.8 -0.8 -0.7 -1.0 p=0.207 p=0.391 p=0.475 p=0.252 GLP-1-Based Medicine 0.8% reduction in HbA1c with icovamenib as add-on to “failing” GLP-1 RA-based therapy 5/5 pts on 0.25mg to 1mg semaglutide lost additional weight when initiating icovamenib Up to 14% of additional weight loss observed at Week 26 COV-111 did not have protocol-mandated dietary requirements/restrictions
Page 37
BMF-650 Next-Generation, Oral Small Molecule GLP-1 Receptor Agonist Overview of Pre-Clinical Findings Status: IND enabling Studies First Patient Enrollment: Expected H2 2025
Page 38
Corporate Presentation June 2025 38 Achieving a Greater Therapeutic Window with BMF-650 A Next-Generation Oral GLP-1 Receptor Agonist Improved PK properties: • Greater bioavailability • Less variability Patient-friendly titration properties Better properties exhibited by BMF-650 in preclinical studies than Orforglipron “Why a greater therapeutic window”? - Only 3 of 10 patients in the real-world setting are staying on a GLP-1 based therapy Higher plasma protein binding for a cleaner safety/ tolerability profile
Page 39
Corporate Presentation June 2025 39 • Good potency on-target to achieve more efficient drug titration • No off-target concerns from counter-screening assays BMF-650 Showed Favorable In Vitro On-Target Activity and Off-Target Selectivity Compound GLP-1 human EC50 β-arrestin1 EC50 β-arrestin2 EC50 25 °C 37 °C BMF-650 8.6 nM 2.6 nM > 10 µM > 10 µM orforglipron 2.6 nM 0.1 nM > 10 µM > 10 µM
Page 40
Corporate Presentation June 2025 40 Pharmacokinetics of BMF-650 Showed Very Good Preclinical Bioavailability with Low Inter-Individual Variability 0 10 20 30 1 10 100 1000 Cynomolgus monkey PO PK time [h] Conc [ng/mL] orforglipron 0.36 mg/kg PO BMF-650 0.36 mg/kg PO Compound cyno PO T1/2 (h) %F BMF-650 0.36 mg/kg 3.66 54.0 orforglipron 0.36 mg/kg 3.70 29.4 Compound rat PO T1/2 (h) %F BMF-650 5 mg/kg 5.14 32.6 orforglipron 5 mg/kg 7.44 11.2 0 10 20 30 1 10 100 1000 Sprague-Dawley rat PO PK time [h] Conc [ng/mL] BMF-650 5 mg/kg PO orforglipron 5 mg/kg PO Compound rat PO day AUC* BMF-650 70 mg/kg 1 269,100 BMF-650 70 mg/kg 7 289,370 0 10 20 30 1 10 100 1000 10000 100000 Sprague-Dawley rat PK days 1, 7 BMF-650 time [h] conc [ng/mL] 70 mpk d1 70 mpk d7 Compound cyno PO Day AUC** BMF-650 3 mg/kg 6* 9,353 BMF-650 6 mg/kg 6# 19,918 * d6 of 6 days of daily PO dosing; d6# after 6 additional days of PO dosing at indicated dose level. ** hr*ng/mL PO =per oral BMF-650 showed 2 to 3-fold greater oral bioavailability in comparison to orfoglipron 0 10 20 30 1 10 100 1000 10000 Cynomolgus monkey PK day 6 BMF-650 time [h] conc [ng/mL] 3 mkg 6 mkg Dose Proportionate Exposure Continuous Exposure after multiple days
Page 41
Corporate Presentation June 2025 41 Projected Human Dose for BMF-650 is Similar Among the Oral Agents All titration doses shown target obesity indications Orforglipron (Eli Lilly) BMF-650 (Biomea) GSBR-1290 (Structure Therapeutics) CT-996 (Roche/Carmot) Doses tested in cynomolgus monkeys to address food intake 0.05 to 1 mg/kg 2 to 30 mg/kg 2 to 10 mg/kg 3 to 30 mg/kg Clinical titration target 36 mg 150 mg (projected) 120 mg 120 mg
Page 42
Corporate Presentation June 2025 42 Vehicle BMF-650 0.05mg/kg BMF-650 0.1mg/kg orforglipron Low dose (lit)* orforglipron high dose (lit)* AUC Mean (N=4) 533 401 404 461 418 Glucose lowering 0 -25% -24% -14% -22% *PNAS November 24, 2020. vol. 117 no. 47 29959-29967 High and low dosing levels for orforglipron based on publications: 0.0018 and 0.0054 mg/kg Very good glucose control observed with small molecule GLP-1 R agonists (BMF-650) BMF-650 Potentiated Blood Glucose Reduction in Cynomolgus Monkeys Vehicle BMF-650 0.05BMF-650 0.1 orforglipron LDorforglipron HD 0 200 400 600 Glucose AUC 0 50 100 0 10 20 30Blood glucose [mMol] vehicle orforglipron HD orforglipron LD BMF-650 (0.10) BMF-650 (0.05) time [min] Glucose levels Glucose AUC
Page 43
Corporate Presentation June 2025 43 Vehicle BMF-650 (10 mg/kg) 0 20 40 60 80 100Food consumed (g) Vehicle BMF-650 (10 mg/kg) Food Consumption for 90 min, 3hr post dose • Food consumption tested daily in cynomolgus monkeys (n=4) • BMF-650 demonstrated good appetite suppression over the 6-day treatment period Vehicle BMF-650 (10 mg/kg) 0 20 40 60 80 100% of total presented Vehicle BMF-650 (10 mg/kg) Daily food intake BMF-650 demonstrated good appetite suppression in cynomolgus monkeys Averages of First 90-Minute Window and Across All Six Days of the Experiment
Page 44
Corporate Presentation June 2025 44 Vehicle BMF-650 (10 mg/kg) orforglipron LDorforglipron HD 0 20 40 60 80 100% of total presented Vehicle orforglipron HD orforglipron LD BMF-650 (10 mg/kg) Daily food intake High / low dose level for orforglipron from PNAS Nov 2020 Chugai/Lilly publication: 0.1 / 0.05 mg/kg • Food consumption tested daily in cynomolgus monkeys (n=4) • BMF-650 demonstrated meaningful appetite suppression over the 6-day treatment period Vehicle BMF-650 (10 mg/kg) orforglipron LDorforglipron HD 0 20 40 60 80 100 Food Consumption for 90 min, 3hr post dose Food consumed (g) orforglipron HD Vehicle orforglipron LD BMF-650 (10 mg/kg) BMF-650 demonstrated meaningful appetite suppression in cynomolgus monkeys Averages of First 90-Minute Window and Across All Six Days of the Experiment in Comparison to Orfoglipron *LD = low dose; HD = high dose
Page 45
Corporate Presentation June 2025 45 Pre-study period 14 days 28 days of BMF-650 daily dosing • 15 Obese cynomolgus monkeys were selected for the study and followed for 14 days prior to study start • Monkeys were distributed among 3 groups of 5 individuals at day -2 • Monkeys were dosed QD with BMF-650: 10 or 30 mg/kg, or vehicle as a solution via oral gavage for 28 days. • Food rations were presented as breakfast, fruit snack, and dinner. Consumption was tracked. • Body weight was recorded daily. • Physical observations were recorded daily. • Lab values were measured on days -5, 13, 20, and 29 per protocol. Key Evaluation of Preclinical Activity: Set up of Weight Loss Study in Obese Cynomolgus Monkeys Study designed to capture detailed daily food consumption and weight changes Group 1 Group 2 Group 3 Weight average [kg] 12.0 12.2 12.0 Daily food intake average [g] 154 156 147
Page 46
Corporate Presentation June 2025 46 Weight Loss Study in Obese Cynomolgus Monkeys: Food Intake Assessment Meaningful and dose dependent food intake reduction for the duration of the study Bar = 28-day average Dot = 1 (of 28) day average Pre dose 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0 50 100 150 200 250 Total Food intake Time (day) Food intake (g) per day Vehicle BMF-650, 10mg/kg BMF-650, 30mg/kg Day 28 102 g 50.2 g 28.0 g mean (day 1-28) = 109 mean (day 1-28) = 35 mean (day 1-28) = 16 vehicle BMF-650, 10mg/kgBMF-650, 30mg/kg 0 50 100 150 200 250 Total Food intake (mean of day 1-28) Total food intake (g) 109 g 35 g 16 g -68% -85%
Page 47
Corporate Presentation June 2025 47 Weight Loss Study in Obese Cynomolgus Monkeys: Food Intake Assessment Cross-study comparison with CT-996 (Roche/Carmot) while not head-to-head appears favorable for BMF-650 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 -100 -50 0 Total food intake change Time (day) % change from baseline Vehicle BMF-650, 10mg/kg BMF-650, 30mg/kg Day 27 -13.6% -73.6% -80.4% Day 28 -30.3% -69.0% -79.2% Literature data; Carmot Therapeutics (now part of the Roche group), ADA 2024. No head-to-head studies of BMF-650 and CT-996 have been conducted. Comparing results from different preclinical studies may be unreliable due to differences in study designs, study endpoints, and other parameters. Vehicle BMF-650, 10 mg/kg BMF-650, 30 mg/kg
Page 48
Corporate Presentation June 2025 48 Weight Loss Study in Obese Cynomolgus Monkeys: Body Weight Reduction • Meaningful, dose dependent, and continuous body weight reduction observed. • Dose groups achieving a 12% and 15% average weight reduction from baseline over 28 days.-20 -15 -10 -5 0 5 -7.5 -10.7 -13.5 -15.2 -4.8 -7.5 -10.2 -12.3 -2.3 -2.7 -2.8 -3.4 Body weight reduction Change from baseline (%) Vehicle BMF-650, 10mg/kg BMF-650, 30mg/kg week 1 week 2 week 3 week 4
Page 49
Corporate Presentation June 2025 49 Weight Loss Study in Obese Cynomolgus Monkeys: Body Weight Reduction 0 1 2 3 4 5 6 7 8 9 1011121314151617181920212223242526272829 -20 -15 -10 -5 0 Body weight change Time (day) % change from baseline Vehicle BMF-650, 10mg/kg BMF-650, 30mg/kg Day 8 -2.30% -4.77% -7.48% Day 15 -2.70% -7.54% -10.66% Day 22 -2.80% -10.20% -13.49% Day 29 -3.40% -12.31% -15.18% Weight loss in cross-study comparison with CT-996 (Roche/Carmot) while not head-to-head appears favorable Literature data; Carmot Therapeutics (now part of the Roche group), ADA 2024. No head-to-head studies of BMF-650 and CT-996 have been conducted. Comparing results from different preclinical studies may be unreliable due to differences in study designs, study endpoints, and other parameters.
Page 50
Corporate Presentation June 2025 50 Oral BMF-650 Promotes Body Weight Reduction in Obese Cynomolgus Monkeys 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 -20 -18 -16 -14 -12 -10 -8 -6 -4 -2 0 2 Body Weight Change (Individual) Day Change from baseline (%)BMF-650, 10mpg BMF-650, 30mpg Vehicle (5 animals per dose group) Mean reduction in BW (Day 29) Vehicle -3.4% BMF-650 10mg/kg -12.3% BMF-650 30mg/kg -15.2%
Page 51
Corporate Presentation June 2025 51 BMF-650 - Preclinical Observation of Adverse Events Low number of adverse events and decreasing frequency over time • BMF-650 generally well tolerated • No elevations of AST & ALT • 420 dosing occurrences (280 active / 140 placebo) • Total events of emesis in the active group 18 (6.4%) • Most of the events occurred in the first week and particularly in the first two days • Study was run without a titration scheme, once daily dosing over 28 days • 8 / 18 occurred in one monkey (#3) at the 10 mg/kg dose (LD) Emesis* Emesis Contribution from Monkey #3 Week 1 16%** 6% Week 2 4.2% 3% Week 3 4.2% 3% Week 4 1.4% - * Events per 70 weekly dosing occurrences **8% (1/2) on Days 1 & 2 of Week 1
Page 52
Corporate Presentation June 2025 52 BMF-650 Demonstrated a Preclinical Profile Supporting Advancement IND Submission Expected 2H 2025 • BMF-650 is similar to the broader orforglipron chemotype • Superior oral bioavailability vs. orforglipron (across species) • Intrinsic potency • Robust glucose lowering and appetite suppression in primate models • Projected clinical dose aligned with other leading oral GLP-1 agents • Generally well tolerated without safety concerns to date NEXT STEPS Weight Reduction in Obese Monkeys Preclinical Update IND Filing – Expected in 2H 25 Initiation of Phase I in Obese, Healthy Volunteers – planned for 2H 2025
Page 53
Corporate Presentation June 2025 53 Biomea Fusion: Oral Small Molecules For Diabetes and Obesity Potentially transformative disease-modifying activity in type 2 diabetes (T2D): Targets a root cause by restoring functional beta cells to enable endogenous insulin production – A result not achieved by currently available therapies Icovamenib is a menin inhibitor showing an emerging competitive clinical profile, demonstrating significant and durable HbA1c reductions, up to ~1.5% sustained well beyond end of treatment Oral, short-course therapy designed for durability and boost adherence and persistence, addressing a key barrier in chronic T2D management Addresses a critical unmet need in insulin-deficient T2D, the most vulnerable patient group at highest risk of macrovascular (CV) complications, rapid treatment failure, and fastest progression to insulin dependence Synergistic with GLP-1 therapies, expanding reach across broader T2D populations, and demonstrating additional benefits in weight loss, glucose control and muscle mass preservation in preclinical combination studies Efficient and cost-effective clinical pathway, with potential for a shorter Phase III program due to short term treatment - based on initial regulatory feedback Advancing BMF-650, a next-generation oral GLP-1 RA with best-in-class potential, into clinical development later this year
Page 54
Corporate Presentation June 2025 54 Three Months Ended March 31, 2025 (unaudited) Operating expenses: R&D $ 22,897 G&A 6,815 Total Operating Expenses 29,712 Loss from operations (29,712) Interest and other income, net 450 Net loss $ (29,262) Other comprehensive loss: Changes in unrealized gain on short term investments, net — Comprehensive loss $ (29,262) Net loss per share of common stock, basic and diluted $ (0.80) Weighted-average number of shares of common stock used to compute basic and diluted net loss per common share 36,627,148 Company Financials (NASDAQ: BMEA) For the three months ended March 31, 2025 1Q 25 Operating Expenses minus Stock Based Comp $29.3 M Cash, Cash Equivalents, and Restricted Cash as of March 31, 2025 $36.2 M
Page 55
Corporate Presentation June 2025 55 Anticipated Milestones for 2H 2025 ICOVAMENIB Menin Program (Potential First-In- Class) Type 2 Diabetes Type 1 Diabetes COVALENT-111 Phase II COVALENT-112 Phase II Study Indications IND-Enabling Studies BMF-650 Oral GLP-1RA Diabetes/Obesity Weight Reduction in Obese Monkeys Preclinical Update – 2Q 2025 Planned Initiation of Phase I Study in Obese Healthy Volunteers 2H 2025 Type 2 Diabetes Severe Insulin Deficient Diabetes COVALENT- 211 Phase IIb 52 Week Follow-up Data (26 Week Follow-up Data announced 12/24) FDA Type C Meeting Update Planned Initiation of Phase IIb in Severe Insulin Deficient Patients (discuss Phase III Pgm requirements) Biomea Fusion: A Diabetes and Obesity Medicines Company “We believe we may have a method to reverse diabetes, to reset the body, so diabetes patients no longer require ongoing medication. ” 52 Week Follow-up Data from those patients that completed original 12 weeks of dosing Type 2 Diabetes Combination with GLP-1 based therapies Planned Initiation of Phase II in Patients uncontrolled on GLP-1 based therapies COVALENT- 212 Phase II
Page 56
Corporate Presentation June 2025 56 56 Thank you