Merck buys Silence and its siRNA pipeline for $1.3bn

Merck KGaA agreed to acquire Silence Therapeutics for $1.3bn, an 82% premium over its 30-day average share price. The deal gives Merck access to Silence's siRNA therapy divesiran, which showed promising Phase II results for treating polycythemia vera. Silence's CEO highlighted the acquisition's potential to strengthen Merck's capabilities in rare diseases. This is Merck's third major acquisition in under two years.

Merck will acquire Silence Therapeutics for $1.3 billion ($20 per ADS) in cash, with the deal expected to close in Q1 2027. The acquisition is driven by Silence's siRNA drug candidate divesiran, which showed promising results in a Phase 2 trial for polycythemia vera. Merck aims to advance divesiran into Phase 3 trials and potentially commercialize it, while also gaining access to Silence's other drug candidates, including zerlasiran.

Merck and Moderna plan to seek FDA approval for their personalized mRNA melanoma vaccine, intismeran autogene, combined with Keytruda, after Phase 3 trial results showed improved recurrence-free and distant metastasis-free survival. The vaccine is tailored to each patient's tumor and is being explored for other cancers. Full data is not yet public, and no filing date has been set.

Merck KGaA is acquiring Silence Therapeutics for approximately $1.3 billion, or $1.1 billion adjusted for net cash. The deal values Silence at $20 per American Depositary Receipt. The acquisition includes divesiran, a drug in phase II trials for polycythemia vera, which met its primary endpoint with 88% of patients responding. Merck aims to expand its rare disease portfolio and gain a foothold in blood diseases.

Silence Therapeutics (SLN) shares surged over 100% after Merck KGaA offered to acquire the company for $1.3B, a 130% premium. The deal, at $20 per ADS, is subject to regulatory approvals and expected to close in Q1 2027. Hedge fund interest in SLN has increased, with 24 funds holding positions in Q2. Both companies cited strategic alignment and growth prospects.

Merck KGaA agreed to acquire Silence Therapeutics for $1.1B, gaining its lead drug divesiran, which is in development for polycythemia vera, a rare blood cancer. The deal includes Silence's siRNA platform technology and is expected to close in Q1 2027, pending regulatory and shareholder approval. According to Silence, the acquisition follows a competitive process and aligns with Merck's strategy to expand its rare disease portfolio.