BioMarin Pharmaceutical Inc. said it will acquire Alesta Therapeutics to gain Ale1, a potential first oral therapy for hypophosphatasia, adding an important clinical program to BioMarin's pipeline.
BioMarin Pharmaceutical said it will pay $275 million upfront plus milestone payments for Alesta.
Alesta will spin out non-Ale1 assets and employees before close.
Alesta shareholders will be eligible for up to $215 million in milestone payments.
BioMarin Pharmaceutical said it will fund the acquisition with cash on hand.
The deal is expected to be modestly dilutive to 2026 financial results.
BMRN•
