BioMarin agrees to buy Droia Ventures-backed Alesta Therapeutics for $275 million upfront

BioMarin agreed to acquire Droia Ventures-backed Alesta Therapeutics for $275 million upfront.

• The deal includes up to $215 million in development and regulatory milestones.
• BioMarin plans to fund the transaction with cash.
• The acquisition adds ALE1, an oral small-molecule in Phase 1/2a for hypophosphatasia, to BioMarin’s clinical-stage pipeline.
• Alesta will spin out non-ALE1 assets before closing, and Alesta employees will transfer to the spinout, not BioMarin.
• BioMarin expects a modestly dilutive impact on 2026 results, excluding the upfront payment, and closing is expected this quarter.