Rare disease biotechnology company BioMarin Pharmaceutical Inc (Nasdaq:BMRN) confirmed on Tuesday that it has completed the acquisition of Alesta Therapeutics, a clinical-stage biotechnology company focused on developing novel oral small-molecule therapies for underserved diseases.

This acquisition strengthens BioMarin's skeletal conditions portfolio, adding ALE1, an oral small molecule for the potential treatment of hypophosphatasia (HPP), a rare genetic bone disease caused by mutations in the ALPL gene. ALE1 is currently being evaluated in an ongoing Phase 1/2a clinical trial assessing safety, tolerability and pharmacokinetics/pharmacodynamics in healthy volunteers and adults with HPP.

Prior to the close of the transaction, Alesta spun out all non-ALE1 assets to a new entity. Alesta Therapeutics is now a wholly owned subsidiary of BioMarin.