India, Aug. 18 -- Tuesday, BioMarin Pharmaceutical Inc. (BMRN) announced an agreement to acquire Alesta Therapeutics, intending to gain the latter's lead clinical-stage asset, ALE1, an orally active small molecule for the potential treatment of hypophosphatasia.
With ALE1, the company expects to expand its footprint into larger rare disease markets.
As per the terms of the deal, Alesta shareholders will receive an upfront payment of $275 million in addition to $215 million in subsequent payments upon achievement of certain development and regulatory milestones.
The transaction, which will be funded with cash on hand, is expected to have a modestly dilutive impact on 2026 financial results, excluding the upfront payment.
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