BioMarin to buy Alesta Therapeutics for $275M, adding rare bone disease drug to pipeline

BioMarin announced Tuesday that it will acquire privately held Alesta Therapeutics, paying $275 million upfront with potential additional payments tied to milestones.

The deal, expected to close by the end of September, brings Alesta’s lead candidate ALE1 into BioMarin’s portfolio. ALE1 is currently in a Phase 1/2 study for hypophosphatasia, a rare genetic disorder that impairs bone mineralization and can cause fractures, tooth loss and muscle weakness.

BioMarin’s CEO said the asset could reach the company’s largest addressable patient population, expanding its focus on skeletal and muscle diseases. The acquisition follows two previous purchases, including the $4.8 billion acquisition of Amicus Therapeutics.

As part of the transaction, Alesta will spin out a separate company to continue development of another unnamed drug, with all Alesta employees moving to the new entity.