Ambrose acquired AM-Pharma’s hypophosphatasia asset ilofotase alfa for $181 million, with potential additional milestones tied to commercialization. The deal brings a Phase Ib-ready program and orphan designations, and positions Ambrose to advance adult HPP treatment by leveraging its rare-disease development footprint and a new European base in Utrecht. The transaction is notable for pipeline economics: it consolidates late preclinical-to-Phase I clinical work into a sponsor with established regulatory and operational experience in ultra-rare indications.