2026 J.P. Morgan Healthcare Conference Mick Hitchcock, CEO Biomea Fusion January 14, 2026

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Biomea Fusion – Development Candidates Icovamenib Diabetes Oral Small molecule COVALENT-111 (Phase 2) Insulin-deficient Type 2 Diabetes (T2D) GLP-1 inadequately controlled BMF-650 (GLP-1 RA) Weight loss Oral Small molecule GLP-131 (Phase 1) Obese (BMI ≥30kg/m2)

Existing T2D Treatments Address Symptoms, Not Disease Progression Existing T2D therapies primarily address downstream metabolic symptoms Icovamenib is a selective and partial menin inhibitor, targeting a previously unaddressed pathway Zhou, Nat Rev Endocrinol, 2016 Metformin Glucose uptake TZDs Glucose uptake TZDs Glucose uptake TZDs Insulin sensitivity Metformin Gluconeogenesis GLP-1RA Gastric emptying DPP-4i GLP-1 Metformin GLP-1 Glucose absorption Meglitinides, Sulphonylureas Insulin release DPP-4i, GLP-1RA Glucagon secretion Insulin secretion SGLT-2i Renal glucose excretion

The Root Cause of Diabetes: T2D is driven by progressive beta-cell failure UNDIAGNOSED Time of diabetes diagnosis Beta-cell function is ~50% of normal at time of T2D diagnosis Adapted from Lebovitz, Diabetes Rev, 1999

T2D Remains a Growing Health Burden in the US 1CDC, Natl. Diabetes Stat. Rep., 2022; 2ADA, Standards of Care in Diabetes, Diabetes Care, 2024; 3Ahlqvist, Lancet Diabetes Endocrinol., 2018

Severe Insulin-Deficient Diabetes Patients | 12 Weeks of icovamenib Dosing (9 Months After Last Dose) Arm A was excluded from this analysis because it included only 8 weeks of dosing which the company is not planning to pursue Icovamenib Treatment Period 0.3 -1.2 P=0.01

Icovamenib Increased Insulin Secretion as Measured by C-peptide Index All severe insulin-deficient patients (All Arms) 29% 2% Data censored at onset of rescue medication, defined as any modification in antihyperglycemic therapy Icovamenib Treatment Period

Why did HbA1c decrease beyond 12 weeks? Menin suppressed beta-cell proliferation and function Demonstrated to act as a biological brake on insulin-producing cells in T2D Menin inhibition was shown to lift this brake Enabled control on beta-cell regeneration and restoration of insulin secretory capacity A short 12-week dosing period induced durable epigenetic reprogramming Allowed beta-cell functional regeneration to continue post-treatment and driving sustained HbA1c improvements

10 Physiologic Suppression of Menin Can Expand Beta-Cell Mass Physiologic states such as pregnancy and lactation suppress menin, enabling beta-cell expansion and increased insulin output Preclinical and human data consistently link reduced menin signaling to improved beta-cell mass and function Icovamenib has been shown to directly inhibit menin, aiming to pharmacologically replicate a naturally occurring, validated biologic process Karnik, Science, 2007

A. Vehicle; Day 31 B. Pioglitazone; Day 17 C. icovamenib; Day 31 ZDF Diabetic Model: A) Vehicle-treated animal, Day 31. Beta islets display low congregation and growth, while alpha cells dominate. B) Pioglitzaone-treated animal, Day 17. Beta islets display congregation and growth. C) Icovamenib treated animal, Day 31. Beta islets display high congregation and continue to increase and mature. Red is insulin-beta islets, brown is glucagon-alpha cells. Solvent icovamenib Threshold 375 Threshold 325 Human Donor Islets (Ex Vivo): Statistically significant increase in beta cells with icovamenib Inhibiting Menin in Rats and in Human Islet Cells Demonstrates Proliferative Effect Increased Beta-Cell Mass and Function ICOVAMENIB

Post-hoc Analysis of Patients on a GLP-1 Based Therapy Not Achieving Target HbA1c <7% at Enrollment (9 Months After Last Dose) Icovamenib Treatment Period 0.55 -1.19 P=0.05

Icovamenib Enhanced GLP-1 Receptor and Insulin Transcript Levels Culture 7 days under hyperglycemic conditions (8 mM glucose) Cadaver derived human islets Gene expression Mean Fold Change -∆∆ct±SD Mean Fold Change -∆∆ct±SD

Overview of Treatment Emergent Adverse Events (TEAEs) Through 52 Weeks Parameter Placebo Combined arms (N=66) Icovamenib Combined arms (N=201) Arm A icovamenib (N=67) Arm B icovamenib (N=67) Arm C icovamenib (N=67) Patients with ≥1 TEAE, N (%) 18 (27) 55 (27) 19 (28) 22 (33) 14 (21) Treatment-Related SAEs, N (%) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) SAEs*, N (%) 1 (1) 2 (1) 1 (1) 0 (0) 1 (1) Treatment Discontinuation due to TEAE, N (%) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Study Discontinuation due to TEAE, N (%) 0 (0) 0 (0) 0 (0) 0 (0) 0 (0) Deaths, N (%) 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.

Treatment Emergent Adverse Events (TEAEs) Occurring in ≥5% in Any Study Arm and TEAEs Reported for ALT and/or AST Elevations Parameter Placebo Combined arms (N=66) icovamenib Combined arms (N=201) Arm A icovamenib (N=67) Arm B icovamenib (N=67) Arm C icovamenib (N=67) Diarrhea, N (%) 0 7 (3) 4 (6) 2 (3) 1 (1) Urinary tract infection, N (%) 3 (5) 1 (0) 0 1 (2) 0 Hyperglycemia, N (%) 3 (5) 8 (4) 2 (3) 5 (7) 1 (1) Headache, N (%) 2 (3) 5 (2) 0 4 (6) 1 (1) ALT increase, N (%) 0 5 (2) 3 (4) 0 2 (3) AST increase, N (%) 0 4 (2) 3 (4) 0 1 (1) Resolution of ALT/AST w/o interruption in study treatment, % N/A 100 100 100 100 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.

Icovamenib in T2D: 52-Week Highlights Durable treatment effect in severe insulin-deficient T2D  Continued benefit observed in severe insulin-deficient diabetes patients Higher icovamenib exposure (PK) led to improved responses  PK analysis shows that greater HbA1c reductions occurred in patients with higher drug exposure Treatment effect in GLP-1 “failures” continued to improve Demonstrated durable and clinically significant improvements in HbA1c in participants on GLP-1 therapy at baseline Favorable safety profile continued through Week 52 Icovamenib was generally well-tolerated, with no adverse-event related discontinuations and no related serious adverse events Icovamenib increased insulin secretion (C-peptide Index) in severe insulin-deficient T2D

COVALENT-111: Potential to Alter the Insulin Treatment Trajectory COVALENT-111 highlights the potential to restore endogenous insulin production capacity in patients who would otherwise progress to chronic insulin therapy—offering the possibility of short-term oral treatment rather than lifelong injectable management.

COVALENT-211: A Phase II Trial of Icovamenib in Participants with T2D Who Are Not Achieving Glycemic Targets Placebo 100 mg QD Icovamenib 100 mg QD ARM A (n=40) ARM B (n=20) Stable Background Therapy SCREENING: 28 DAYS TREATMENT: 12 WEEKS FOLLOW-UP: 52 WEEKS Week 26: Primary endpoint Week 52: Secondary endpoint FOLLOW-UP: 26 WEEKS Adult participants with T2D treated with 1-3 antidiabetic medications HbA1c 7.5 to 10.5% BMI ≤ 32 kg/m2 Background therapy maintained unless rescue required Key Inclusion Criteria

Placebo 100 mg QD Icovamenib 100 mg QD ARM A (n=40) ARM B (n=20) Background Therapy: Stable GLP-1-based therapy SCREENING: 28 DAYS TREATMENT: 12 WEEKS FOLLOW-UP: 52 WEEKS Week 26: Primary endpoint Week 52: Secondary endpoint FOLLOW-UP: 26 WEEKS Key Inclusion Criteria Adult participants with T2D who are not achieving glycemic targets despite GLP-1-based therapy HbA1c ≥ 7.5 and ≤9.5% BMI 25 to 40 kg/m2 Treatment policy estimand; background therapy maintained unless rescue required COVALENT-212: A Phase II Trial of Icovamenib in Participants with T2D Mellitus Who Are Not Achieving Glycemic Targets While Using GLP-1-Based Therapy

Increased beta cell mass and function Increased insulin synthesis and secretion DUAL EFFECT BETA CELL QUANTITY & FUNCTION GLP-1 RECEPTOR EXPRESSION Increased GLP-1 receptor expression and GLP-1 release; enhanced incretin effect Enhanced weight loss with preservation of lean muscle mass in preclinical studies combining icovamenib with a GLP-1RA ICOVAMENIB Mechanism of Action of Icovamenib – a Selective and Partial Menin Inhibitor ICOVAMENIB

Biomea Fusion – BMF-650 BMF-650 (GLP-1 RA) Weight loss Oral Small molecule GLP-131 (Phase 1) Obese (BMI ≥30kg/m2) Designed for better bioavailability >>> More consistent efficacy

Oral BMF-650 Promoted Body Weight Reduction in Obese Cynomolgus Monkeys (5 animals per dose group) Vehicle -3.4% BMF-650 10mg/kg -12.3% BMF-650 30mg/kg -15.2% 0 -10 -20 Change from baseline (%) 7 14 21 28 Mean reduction in Body Weight (Day 29)

BMF-650 Has Demonstrated Favorable Liver Safety to Date Pfizer chemotype / danuglipron Danuglipron and lotiglipron discontinued3,4 TERN-601 discontinued5 Observation of LFTs elevations Chugai chemotype / orforglipron: 3000+ patients dosed in ATTAIN 1 / 2 studies1,2 No LFT signals for orforglipron BMF-650 is a member of this chemotype Daily oral dosing in cynomolgus monkeys (healthy and obese) for up to 6 weeks No ALT or AST elevations observed across all preclinical studies First-in-human study ongoing with no ALT or AST elevations observed to date 1Horn, Lancet, 2026; 2Knudsen, Cell Chem Biol, 2021; 3Pfizer press release (danuglipron discontinued, Apr 2025); 4Pfizer press release (lotiglipron terminated, Jun 2023); 5Terns Phase 2 topline press release (Oct 2025

GLP-131: A Randomized, Double-blind, Placebo-controlled, FIH Study of an Oral Non-peptide GLP-1 Receptor Agonist Part 1: single ascending dose (SAD) study | Part 2 is a multiple ascending dose (MAD) study Jan ‘26

Overview of Key Program Activities COVALENT 211 (Phase IIB) Insulin-deficient T2D (20% of US T2D population) First patient enrollment planned in 1Q 2026 26-Week readout expected in 4Q 2026 COVALENT 212 (Phase II) T2D patients not controlled on GLP-1 based medicines (70% of US GLP-1 population) First patient enrollment planned in 1Q 2026 26-Week readout in 4Q 2026 GLP-131 (Phase I) Obese, otherwise healthy volunteers Currently dosing single ascending dose 28-Day weight loss study results expected in 2Q 2026 ICOVAMENIB BMF-650

Q&A

THANK YOU For questions or inquiries, please reach out to Meichiel Weiss at ir@biomeafusion.com www.biomeafusion.com