Merck KGaA spends $1.3bn to buy siRNA specialist Silence Therapeutics

Merck KGaA agreed to acquire Silence Therapeutics for $1.3bn, an 82% premium. The deal includes Silence's siRNA pipeline, including divesiran, a late-stage drug for polycythemia vera (PV). Merck aims to strengthen its RNA-focused drug portfolio and address R&D setbacks.

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.

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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.