BioMarin buys Alesta for $275M, targeting first oral rare bone drug

BioMarin Pharmaceutical signed a definitive agreement to acquire clinical-stage biotech Alesta Therapeutics. The deal centers on ALE1, an oral small molecule for the rare genetic bone disease hypophosphatasia (HPP).

BioMarin will pay $275 million upfront. The agreement includes additional payments contingent on developmental and regulatory milestones.

ALE1 is currently in a Phase 1/2a clinical trial. It has the potential to become the first oral therapy for HPP.

CEO Alexander Hardy stated the acquisition strengthens BioMarin’s early-stage pipeline. The transaction is expected to close within the current quarter.