BioMarin agreed to acquire Alesta Therapeutics for $275 million upfront, with up to $215 million in development and regulatory milestone payments.
The deal gives BioMarin ALE1, an oral small-molecule candidate for hypophosphatasia (HPP), a rare genetic bone disease caused by ALPL mutations.
ALE1 is in an ongoing Phase 1/2a trial and could become the first oral treatment for HPP, potentially offering an alternative to current injectable therapies.
Although announced as an acquisition, it is effectively an asset-focused transaction:
Alesta plans to spin out its other programs and employees into a separate company before closing.
The transaction is expected to close in the third quarter of 2026 and will be funded with BioMarin’s cash on hand.
Sources:
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