BioMarin to Acquire Alesta Therapeutics for $275M to Develop Oral Rare Bone Disease Drug
BioMarin Pharmaceutical has reached an agreement to acquire Alesta Therapeutics for an initial payment of $275 million, with the possibility of an additional $215 million contingent on development and regulatory achievements. The definitive agreement, revealed on Tuesday, centers around an oral treatment for a rare bone disorder. This purchase enhances BioMarin's collection of therapies for genetic ailments, potentially providing a more user-friendly option compared to current injectable treatments. The transaction highlights continued investment in oral medications for specialized diseases. Finalization of the deal is dependent on standard closing conditions.
Key facts
- BioMarin announced the acquisition on Tuesday.
- The deal includes $275 million upfront.
- Up to $215 million in milestone payments are possible.
- Alesta Therapeutics is the acquired company.
- The treatment targets a rare bone disease.
- The therapy is intended to be the first oral option.
- Payments are tied to development and regulatory milestones.
- The acquisition strengthens BioMarin's rare disease portfolio.
Entities
Institutions
- BioMarin
- Alesta Therapeutics
Sources
- Quartz —