BioMarin to acquire Alesta Therapeutics for $275 million to expand bone disease pipeline

BioMarin Pharmaceutical announced it will purchase Alesta Therapeutics for an upfront payment of $275 million.

Alesta is developing an oral small-molecule drug, ALE1, aimed at treating hypophosphatasia (HPP), a rare genetic bone disorder. The candidate works by lowering inorganic pyrophosphate to improve bone and mineral metabolism.

The phase 1/2 trial that began in September includes healthy volunteers and adults with HPP, targeting an adult population not covered by AstraZeneca’s enzyme replacement therapy Strensiq, which is only approved for infantile and juvenile forms.

By adding ALE1, BioMarin hopes to compete with AstraZeneca in the rare bone disease market and capture the underserved adult HPP segment.