Business
Biomea Fusion Reports Second Quarter 2023 Financial Results and Corporate Highlights
Reported additional positive clinical data at ADA 83rd Scientific Sessions from the first two cohorts of patients with type 2 diabetes from ongoing Phase I/II
About this update from Biomea Fusion, Inc.
[{"type":"text","content":"Reported additional positive clinical data at ADA 83rd Scientific Sessions from the first two cohorts of patients with type 2 diabetes from ongoing Phase I/II study (COVALENT-111) evaluating BMF-219 as a novel, potentially disease-modifying treatment candidate for patients with type 2 diabetes New data highlighted specific patients treated with BMF-219 for 4 weeks maintained or experienced a further decrease in HbA1c levels 8 weeks after treatment was completed, up to a 2.4% reduction from baselineBMF-219’s mechanism of action is to enable the proliferation, preservation, and reactivation of a patient’s own healthy, functional, insulin-producing beta cellsAs the potentially first disease-modifying therapy for type 2 diabetes, BMF-219 could be an important addition and complement to the treatment landscape, if approved Reported initial topline data from ongoing Phase I clinical trial (COVALENT-101) showcasing initial responses in relapsed/refractory Acute Myeloid Leukemia (AML) New data revealed 2 complete responses (CRs) out of 5 pretreated patients with relapsed/refractory AML patients carrying menin-dependent mutations (MLL1r, NMP1, MLL1-PTD, and NUP98 fusion) treated at Dose Level 4BMF-219, the first and only investigational covalent small-molecule menin inhibitor in clinical development, was generally well tolerated with no dose-limiting toxicities observed, and no related QTc prolongation reported Continued enrolling four liquid tumor cohorts in ongoing Phase I study of BMF-219 (COVALENT-101), and three KRAS-mutated solid tumors in ongoing Phase I study of BMF-219 (COVALENT-102)Continued advancing second product candidate, BMF-500, a novel third generation covalent inhibitor of fms-like tyrosine kinase 3 (FLT3), toward the clinic; initiated a Phase I study of BMF-500 (COVALENT-103)Cash position of $223.3 million at the end of the second quarter of 2023 REDWOOD CITY, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Biomea Fusion, Inc. (“Biomea” or “the Company”) (Nasdaq: BMEA), a clinical-stage biopharmaceutical company dedicated to discovering and developing novel covalent small molecules to treat and improve the lives of patients with genetically defined cancers and metabolic diseases, reported second quarter 2023 financial results and business highlights. “At the American Diabetes Association Annual Meeting in June, data present...