On April 13, 2023 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 the closing of its previously announced upsized underwritten public offering of 5,750,000 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 750,000 additional shares, at a price to the public of $30.00 per share (Press release, Biomea Fusion, APR 13, 2023, View Source [SID1234630034]). The aggregate gross proceeds from the offering were $172.5 million, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Biomea. All shares of common stock were offered by Biomea.

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J.P. Morgan and Citigroup acted as joint book-running managers for the offering. Oppenheimer & Co. and Barclays also acted as joint book-running managers for the offering.

Biomea intends to use the net proceeds from the offering, together with its existing cash, cash equivalents, restricted cash and investments to fund: (i) the continued clinical development of BMF-219, an orally bioavailable, potent and selective covalent inhibitor of menin, for the treatment of patients with liquid and solid tumors, as well as patients with type 2 diabetes; (ii) its exploration of the potential clinical utility of BMF-219 in other diabetic patient populations, including type 1 diabetes; (iii) IND-enabling studies and the clinical development of BMF-500, a covalent inhibitor of FLT3; (iv) its ongoing efforts to develop product candidates from our FUSION System discovery platform; and (v) other general corporate purposes.

The securities were offered by Biomea pursuant to a registration statement on Form S-3 (File No. 333-267884) previously filed and declared effective by the Securities and Exchange Commission (the "SEC"). A final prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to these securities, may also be obtained for free from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at [email protected]; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at(800) 831-9146; Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, by telephone at (212) 667-8055, or by email at [email protected]; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (888) 603-5847, or by email at [email protected]; or by accessing the SEC’s website at www.sec.gov.

This press release 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 such state or jurisdiction.