BioMarin agreed to acquire Alesta Therapeutics for $275 million upfront, plus up to $215 million in development and regulatory milestones, expanding its rare bone-disease pipeline. The deal brings in ALE1, an orally active small molecule in Phase I/IIa for hypophosphatasia, a rare genetic disorder caused by ALPL mutations that impair inorganic pyrophosphate biology. BioMarin positioned ALE1 as a potential first-in-class oral alternative to injectable treatments and highlighted the program’s Phase I/IIa evaluation in healthy volunteers and adults with hypophosphatasia (NCT07179640). If approved, BioMarin said ALE1 could address both skeletal manifestations and broader systemic effects tied to the underlying metabolic pathway. The acquisition is structured to spin out non-ALE1 assets prior to closing, and it adds to BioMarin’s mineralization-focused strategy after the company previously discontinued another PPi-pathway program.