The history of this version of May Parker is presumably similar to her mainstream counterpart with the biggest difference being the absence of a Sliding Timescale.
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History
She and her husband Ben Parker took care of their nephew Peter after his parents Richard and Mary died. After Ben was murdered, she continued to raise Peter by herself.
While Peter was in college, May's health issues were often on his mind. May eventually married the former criminal scientist Otto Octavius, but she later divorced him when he couldn't let go of the darkness still brewing inside him. Otto blamed her nephew Peter for their failed marriage.
Years later, Peter married Mary Jane Watson, and all lived together in the same apartment. When Peter was taken to Battleworld by the Beyonder, Mary Jane was forced to take care of May while also being pregnant with twins, and May's senility bothered her. Peter eventually returned from Battleworld, but he was often away running Parker Industries. When May wondered off with the twins, Mary Jane suggested that May be put in a home. Peter vehemently refused, feeling that it would be insulting to the person who raised him. When Mary Jane left him and took the children when she couldn't handle his life of Spider-Man, he was left alone with May.
May eventually died of unrevealed causes. A vision of May came to Peter's aid as he struggled to fight off Doctor Octopus, convincing Otto to stop.