BioMarin Acquires Alesta Therapeutics for $275M to Expand Rare Disease Pipeline
BioMarin Pharmaceutical has acquired privately held Alesta Therapeutics in a deal valued at up to $490 million, including an upfront payment of $275 million and potential milestone payments. The acquisition targets ALE1, Alesta's lead candidate for hypophosphatasia—a rare genetic disorder affecting bone mineralization—currently in Phase 1/2 trials. BioMarin aims to strengthen its portfolio focused on skeletal and muscle diseases with this addition. This marks the company’s third major deal in two years following acquisitions of Amicus Therapeutics and Inozyme Pharma, both aimed at expanding clinical-stage assets for rare conditions. The Alesta acquisition will be funded through existing cash reserves but is expected to impact BioMarin's per-share earnings guidance until it provides updated figures post-closure. Alesta’s drug targets a novel mechanism involving inorganic pyrophosphate levels and joins other experimental therapies like Voxzogo, BMN 333, and BMN 351. Alesta previously secured $65 million from investors including Frazier Life Sciences and Novartis' venture arm.
Tickers: $BMRN
Topics: Biotech Pharma M&A Rare Diseases