Goodwin Advises Alesta Therapeutics in Acquisition by BioMarin for up to $490 Million

The Life Sciences M&A team advised Alesta Therapeutics on their definitive agreement to be acquired by BioMarin, a global rare disease biotechnology company. Under the terms of the agreement, BioMarin will acquire Alesta, and Alesta shareholders will receive an upfront payment of $275 million plus up to $215 million in subsequent payments upon achievement of certain development and regulatory milestones. Additionally, immediately prior to the close of BioMarin’s acquisition of Alesta, Alesta will spin out all non-ALE1 assets to a new entity, and former Alesta employees will transfer to the spinout entity. The transaction is expected to close this quarter, subject to customary closing conditions.

Alesta Therapeutics is a clinical-stage biotechnology company committed to developing novel oral small-molecule therapies for underserved diseases. The company’s lead asset, ALE1, is being developed for hypophosphatasia (HPP), a rare genetic disorder with significant unmet need. 

The Goodwin team was led by Danielle Lauzon, Felipe M. Heiderich, Morag Peberdy, Serene Qandil, Selin Deldag, Keema Givens, Nia Saunders, Dan Karelitz, Elizabeth Mulkey, Cathy McCarty, Sarah M. Bock, James Devendorf, Natascha George, Christina Lewis, Ana Victoria Alvarado, Arman Oruc, Simone Waterbury, Stephen Mavroghenis, Elliot Silver, and Maria Belen Gravano.

For more information on the deal, please read the press release.