Pharma BD Deal Intelligence
BioMarin Pharmaceutical entered a definitive agreement to acquire Alesta Therapeutics to gain ALE1, a Phase 1/2 candidate for hypophosphatasia (HPP), a genetic disease impairing bone mineralization that causes fractures, tooth loss and muscle weakness. Alesta shareholders receive USD 275 million upfront plus up to USD 215 million in development and regulatory milestones, funded with cash on hand. If approved, ALE1 could be the first oral treatment for HPP, complementing BioMarin's existing skeletal-conditions franchise. Immediately prior to close, Alesta will spin out all non-ALE1 assets to a new entity and Alesta employees will transfer to that spinout, so no Alesta employees join BioMarin. Both boards approved the transaction, which is expected to close in Q3 2026 and to be modestly dilutive to BioMarin's 2026 results excluding upfront consideration.