-- Initiated two Phase II trials COVALENT-211 and COVALENT-212 (icovamenib 
      in type 2 diabetes) with 26-week primary endpoint data anticipated in the 
      fourth quarter of 2026 
 
   -- Completed 52-week follow-up from Phase II trial COVALENT-112 (icovamenib 
      in type 1 diabetes) with data expected in the second quarter of 2026 
 
   -- Initiated Phase I trial enrollment of GLP-131 (BMF-650 in obesity) with 
      initial 28-day weight reduction data expected in the second quarter of 
      2026 
 
   -- Projected cash runway into the first quarter of 2027 

SAN CARLOS, Calif., March 24, 2026 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. ("Biomea" or "Biomea Fusion" or "the Company") (Nasdaq: BMEA), a clinical-stage diabetes and obesity company, today reported its financial results for the full year ended December 31, 2025, and provided a business update.

"The past year was a year of execution for Biomea as we advanced from validating the menin pathway in primarily preclinical experiments to now generating durable, clinical data in patients with type 2 diabetes with our lead asset, icovamenib," said Mick Hitchcock, Ph.D., Interim Chief Executive Officer and Board Member of Biomea Fusion. "We reported persistent 52-week clinical activity with icovamenib following a short 12-week treatment course. Following these initial findings, we initiated two Phase II studies in type 2 diabetes from which we expect to have primary end point data before year end. We also advanced our own next-generation oral GLP-1 receptor agonist, BMF-650, into a Phase I study which we expect will read out in the second quarter. We are excited about the current momentum as we believe Biomea is well positioned to execute on key value-creating milestones with multiple data readouts from our four clinical studies, while predicting a cash runway into the first quarter of 2027."

Recent Corporate Highlights:

Icovamenib

Potential First-in-Class Oral Small Molecule Product Candidate Targeting Menin for Diabetes

   -- The Company presented 52-week follow-up data from the Phase II 
      COVALENT-111 study in patients with type 2 diabetes not achieving 
      glycemic targets despite standard of care therapy. The data demonstrated 
      durable and clinically meaningful reductions in HbA1c that persisted nine 
      months after completion of a 12-week treatment course. 
 
          -- In patients with severe insulin-deficient type 2 diabetes 
             receiving one or more antihyperglycemic agents at baseline, 
             icovamenib achieved a 1.2% mean reduction in HbA1c (p=0.01) that 
             was maintained through Week 52 following 12 weeks of dosing. 
 
          -- In a subgroup of patients receiving GLP-1 RA-based therapy who had 
             not achieved glycemic targets at study entry, icovamenib achieved 
             a 1.2% mean reduction in HbA1c (p=0.05) that was maintained 
             through Week 52 following 12 weeks of dosing. 
 
          -- In both populations, icovamenib treatment was associated with 
             increased C-peptide levels measured off treatment, supporting the 
             proposed mechanism of action of restoration of beta cell function. 
 
          -- Icovamenib was generally well tolerated across all dosing arms, 
             with no treatment-related serious adverse events or treatment 
             discontinuations observed during the 52-week observation period. 
 
   -- The Company completed the COVALENT-121 food-effect study which 
      demonstrated that icovamenib achieved optimal pharmacokinetic exposure 
      and a safety profile consistent with prior clinical experience when 
      administered within 30 minutes after a meal. These findings informed our 
      dosing strategy for ongoing Phase II studies. 
 
   -- The Company also completed the 52-week follow-up from the Phase II 
      COVALENT-112 study in patients with type 1 diabetes. Patients who 
      completed at least 80% of their planned dosing will be reviewed for their 
      52-week follow-up data per the study protocol. This read-out is expected 
      in the second quarter of 2026. 
 
   -- Two Phase II clinical studies evaluating icovamenib in type 2 diabetes 
      have been initiated: 
 
          -- COVALENT-211, a Phase II, randomized, double-blind, 
             placebo-controlled study in patients with insulin-deficient type 2 
             diabetes not achieving glycemic targets despite standard of care 
             therapy. 
 
          -- COVALENT-212, a Phase II, randomized, double-blind, 
             placebo-controlled study in patients with type 2 diabetes not 
             achieving glycemic targets while on a GLP-1 RA-based therapy. 
 
          -- Both studies are designed with a 26-week primary endpoint, with 
             topline data anticipated in the fourth quarter of 2026. 

BMF-650

Next-generation Oral Small Molecule GLP-1 RA Product Candidate for Obesity

   -- In preclinical studies, BMF-650 demonstrated robust, dose-dependent 
      weight reduction of up to approximately 15% in obese non-human primates 
      and was generally well tolerated. 
 
   -- GLP-131, a Phase I randomized, double-blind, placebo-controlled clinical 
      study evaluating the safety, tolerability, pharmacokinetics, and 
      pharmacodynamics of BMF-650 in otherwise healthy overweight or obese 
      participants is ongoing. 
 
   -- Initial 28-day clinical weight reduction data from the Phase I GLP-131 
      study is anticipated in the second quarter of 2026. 

Year End 2025 Financial Results

   -- Cash, Cash Equivalents, and Restricted Cash: As of December 31, 2025, the 
      Company had cash, cash equivalents and restricted cash of $56.2 million, 
      compared to $58.6 million as of December 31, 2024. 
 
   -- Net Loss: The Company reported a net loss attributable to common 
      stockholders of $61.8 million for the year ended December 31, 2025, which 
      included $9.5 million of stock-based compensation, compared to a net loss 
      of $138.4 million for the same period in 2024, which included $19.1 
      million of stock-based compensation. 
 
   -- Research and Development (R&D) Expenses: R&D expenses were $62.0 million 
      for the year ended December 31, 2025 compared to $118.1 million for the 
      same period in 2024. The decrease of $56.1 million was primarily due the 
      decrease of $42.7 million in external costs primarily driven by a 
      decrease of $28.5 million related to clinical activities due to our 
      strategic realignment to focus on our core assets and ceasing internal 
      development of our oncology programs, a decrease of $4.4 million in 
      manufacturing costs, a decrease of $4.0 million related to consultants, 
      advisors and other professional services to support our clinical studies, 
      discovery research and overall research and development program, and a 
      decrease of $5.8 million related to preclinical and exploratory programs. 
      Personnel-related expenses, including stock-based compensation, decreased 
      by $11.3 million due to a decrease in headcount. Facilities and other 
      allocated expenses decreased by $2.1 million due to a decrease in rent 
      and facilities-related costs. 
 
   -- General and Administrative (G&A) Expenses: G&A expenses were $19.3 
      million for the year ended December 31, 2025 compared to $26.0 million 
      for the same period in 2024. The decrease of $6.7 million was primarily 
      driven by a decrease of $5.9 million related to personnel-related 
      expenses, including stock-based compensation, due to a decrease in 
      headcount. Consulting and professional expenses decreased by $0.7 million 
      due to legal, accounting, consulting and other services. Facilities and 
      other allocated expenses decreased by $0.1 million due to a decrease in 
      rent and facilities-related costs. 

About Biomea Fusion

Biomea Fusion is a clinical-stage diabetes and obesity medicines company focused on the development of its oral small molecule therapies, icovamenib and BMF-650, for diabetes and obesity. These programs target metabolic disorders, a global health challenge affecting nearly half of Americans and one-fifth of the world's population. Biomea's mission is to deliver transformative treatments that restore health for patients living with diabetes, obesity, and related conditions. We aim to cure.

Visit us at biomeafusion.com and follow us on LinkedIn, X and Facebook.

Forward-Looking Statements

Statements we make in this press release may include statements which are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact, including statements regarding the expected benefits resulting from the implementation of the cost saving measures and potential ability to fund key value drivers; clinical and therapeutic potential of our product candidates and development programs, including icovamenib and BMF-650, the potential of icovamenib as a treatment for type 1 diabetes and type 2 diabetes, the potential of BMF-650 as a treatment for obesity; our research, development and regulatory plans; the mechanism of action of our product candidates and development programs; the progress and initiation of our ongoing and upcoming clinical trials, including our Phase II COVALENT-111 study , our Phase II COVALENT-112 study , our Phase II COVALENT-211 study, our Phase II COVALENT-212 study and our Phase I GLP-131 study; the

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