BioMarin Pharmaceutical to acquire Alesta Therapeutics

BioMarin Pharmaceutical has reached an agreement to acquire Alesta Therapeutics to obtain ALE1, an experimental oral small molecule designed to treat hypophosphatasia. Hypophosphatasia is a rare genetic disease that affects bone and tooth mineralization, often leading to fractures, muscle weakness, and fatigue.

The deal includes an initial payment of $275 million, with the potential for an additional $215 million in milestone payments based on clinical and regulatory achievements, bringing the total potential value of the transaction to $490 million. If successful, ALE1 could become the first oral therapy for the condition, providing an alternative to current injectable treatments.

ALE1 is currently in phase 1/2a clinical trials. As part of the transaction, Alesta will transfer all assets other than ALE1 to a new company. The acquisition is expected to close by the third quarter of 2026, subject to customary closing conditions.