What Biomea Fusion does

Biomea Fusion is a clinical-stage biopharmaceutical company headquartered in Redwood City, California, that designs and develops orally bioavailable covalent small molecule therapies, with its current pipeline focused on diabetes and obesity following a 2025 strategic realignment away from precision oncology. Its lead asset, icovamenib (formerly BMF-219), is a first-in-class oral covalent menin inhibitor designed to regenerate, preserve, and reactivate insulin-producing pancreatic beta cells — a disease-modifying mechanism positioned across both type 1 diabetes (COVALENT-111 and COVALENT-112 Phase II programs) and type 2 diabetes (COVALENT-211 and COVALENT-212 Phase II programs, with first patients dosed in March 2026). Its second asset, BMF-650, is an oral small-molecule GLP-1 receptor agonist for obesity that entered Phase I (GLP-131) in 2025, with a combination-therapy evaluation alongside semaglutide planned under the OPAL platform trial with the University of Leicester starting Q3 2026. All candidates are produced through the company's proprietary FUSION System drug discovery platform and are wholly owned, with full worldwide development and commercialization rights retained.

The business model is pre-commercial: Biomea has no approved products and therefore no product revenue, generating cash inflows solely from equity financings. As of April 2026 the company carried a market capitalization of approximately $111.34M, had raised roughly $150M in a 2023 follow-on offering and a further ~$68M across 2025 public offerings plus an additional ~$25M raise in October 2025, and reported $45.1M in cash at Q1 2026 with runway guided into early 2027. Net loss narrowed to $61.8M for FY2025 (from $138.4M in FY2024) and to $12.4M for Q1 2026 (from $29.3M in Q1 2025), reflecting a workforce reduction to approximately 40 employees and R&D expense compression from $118.1M to $62.0M year-over-year. Future commercialization, if approved, will run through traditional pharmaceutical sales channels targeting endocrinologists, diabetes specialists, and obesity medicine prescribers, with distribution through standard wholesale, pharmacy, and hospital channels.

Name

Biomea Fusion

Legal name

Biomea Fusion, Inc.

Website

https://biomeafusion.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Biomea Fusion is a clinical-stage biopharmaceutical company developing orally bioavailable covalent small molecules — led by menin inhibitor icovamenib for type 1 and type 2 diabetes and GLP-1 agonist BMF-650 for obesity — designed and wholly owned through its proprietary FUSION System drug discovery platform.

Ownership category

akta.pro rank

Product category

Clinical-Stage Diabetes Therapeutics

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Translational Medicine & Biomarkers (HLAIALAF)

akta.pro secondary industry

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Covalent small molecules
• Diabetes therapeutics
• Menin inhibitors
• Obesity drug development
• Clinical-stage biopharmaceutical

Headquarters

HQ city

Redwood City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical Product Sales: Pre-revenue clinical-stage biopharmaceutical company with no commercialized products yet. Pipeline includes icovamenib for diabetes and BMF-650 for obesity, both in clinical development stages.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Biomea Fusion is a clinical-stage biopharmaceutical company developing investigational covalent small molecule drug candidates targeting diabetes and obesity. Its lead candidate, icovamenib (formerly BMF-219), is an oral menin inhibitor designed to regenerate insulin-producing beta cells for Type 1 and Type 2 diabetes, while BMF-650 is an oral GLP-1 receptor agonist in development for obesity. All candidates are discovered in-house using the company's proprietary FUSION™ drug discovery platform, and the company retains full worldwide development and commercialization rights.

Product overview

Biomea Fusion is a clinical-stage biopharmaceutical company developing a pipeline of covalent small molecule drug candidates for diabetes and obesity treatment. The company's lead product is icovamenib, an oral menin inhibitor targeting beta cell regeneration for Type 1 and Type 2 diabetes. The second product candidate is BMF-650, an oral GLP-1 receptor agonist for obesity. The company utilizes its proprietary FUSION™ System for drug discovery and owns full worldwide development and commercialization rights to all programs. The clinical pipeline includes multiple Phase II trials (COVALENT-111, COVALENT-112, COVALENT-211, COVALENT-212) evaluating icovamenib and a Phase I trial (GLP-131) for BMF-650.

Differentiator

Problem solved

Functional benefit

Products and services

• Icovamenib (formerly BMF-219) Investigational, orally bioavailable, potent, and selective covalent inhibitor of menin designed to regenerate insulin-producing beta cells, with the goal of delivering the first disease-modifying therapy for Type 1 and Type 2 diabetes.
• BMF-650 Investigational, next-generation, oral small-molecule GLP-1 receptor agonist that has demonstrated improved glucose-stimulated insulin secretion, blood glucose reduction, appetite suppression, and weight loss in preclinical studies for obesity treatment.

Quantifiable outcome

• 1.5% HbA1c reduction in severe insulin-deficient type 2 diabetes patients (p=0.01 vs placebo)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• University of LeicestercoreStrategic or Co-development Partner · 3 June 2026Research collaboration to evaluate icovamenib in combination with semaglutide for weight management as part of the ongoing OPAL platform trial. The randomized, double-blinded study will assess whether adding icovamenib enhances weight reduction effects compared to semaglutide alone, with enrollment beginning in Q3 2026. Preclinical data showed the combination enhanced weight loss driven by fat loss while preserving lean mass.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Structure Therapeutics: Clinical-stage company developing oral small-molecule GLP-1 receptor agonists (GSBR-1290A) for obesity and diabetes. Highly comparable to Biomea Fusion's BMF-650 program with a similar mechanism, oral administration, and clinical-stage profile, though Structure is at a slightly more advanced stage.
• Crinetics Pharmaceuticals: Clinical-stage biotech developing oral small-molecule therapies for endocrine diseases, including paltusotine for acromegaly. Highly comparable in stage and modality (oral small molecules) targeting metabolic/endocrine indications with wholly-owned assets.
• Zealand Pharma: Clinical-stage company developing peptide-based therapeutics for metabolic diseases including obesity and diabetes. Comparable to Biomea Fusion in therapeutic focus (diabetes/obesity) and clinical-stage status, though Zealand's molecules are peptides rather than small molecules.
• vTv Therapeutics: Clinical-stage company developing small-molecule therapies for diabetes (TTP399, an oral glucokinase activator) and CNS disorders. Comparable in modality (oral small molecules) and indication (type 2 diabetes), though at a similar early clinical stage.
• Lexicon Pharmaceuticals: Clinical-stage company developing oral small-molecule drug candidates including sotagliflozin for diabetes and heart failure. Comparable to Biomea Fusion in modality (oral small molecules), therapeutic area (diabetes), and stage.
• Poxel: Clinical-stage French biopharmaceutical company developing imeglimin, an oral small-molecule therapy for type 2 diabetes. Highly comparable to Biomea Fusion in mechanism (oral small molecules), indication (T2D), and stage, with a focus on diabetes specifically.

Emerging players

• Madrigal Pharmaceuticals: Recently commercialized Rezdiffra (resmetirom) for NASH/MASH, a metabolic liver disease. Comparable to Biomea Fusion in its focus on oral small molecules for metabolic diseases and similar clinical-stage-to-commercial transition trajectory.
• Altimmune: Clinical-stage company developing pemvidutide, a GLP-1/glucagon dual agonist for obesity and NASH. Comparable to Biomea Fusion in metabolic-disease focus (obesity), clinical-stage status, and pursuit of differentiated mechanisms within the GLP-1 space.

Broad incumbents

• Eli Lilly: Large incumbent pharmaceutical company with tirzepatide (Mounjaro/Zepbound) dominating the GLP-1 obesity/diabetes market. Relevant to Biomea Fusion as the dominant competitor Biomea's icovamenib+GLP-1 combination strategy is designed to complement, and as a benchmark for commercial scale in this space.
• Novo Nordisk: Large incumbent pharmaceutical company with semaglutide (Ozempic/Wegovy) defining the GLP-1 obesity/diabetes market. Directly relevant to Biomea Fusion's OPAL combination trial pairing icovamenib with semaglutide, and as the principal incumbent whose commercial footprint Biomea would face upon launch.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights3 records

Customer concentration

• LinkedInlinkedin.com/company/biomeafusion
• Xx.com/biomeafusion
• Facebookfacebook.com/biomeafusion

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Biomea Fusion