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Merck KGaA, Darmstadt, Germany to Acquire Silence Therapeutics, Strengthening Rare Disease Pipeline with Innovative siRNA Asset

SLN
  • Merck KGaA, Darmstadt, Germany entered a definitive agreement to acquire Silence Therapeutics plc, a UK-headquartered biotechnology company.
  • The purchase price is $20 per ADS in cash, representing an 82% premium to the 30-day volume-weighted average price, an enterprise value of $1.1 billion, & an equity value of approximately $1.3 billion.
  • The transaction will add Divesiran, a phase 3-ready siRNA investigational therapy for polycythemia vera (PV), to Merck's pipeline.
  • Divesiran targets the TMPRSS6 gene to regulate hepcidin levels, aiming to reduce the need for frequent therapeutic phlebotomies in patients with the rare blood cancer PV.
  • Phase 2 SANRECO study data showed Divesiran achieved an 88% responder rate versus 19% for placebo & reduced mean phlebotomies to 0.2 per patient versus 2.1 on placebo over weeks 0–36.
  • The acquisition is intended to strengthen Merck's position in rare diseases & advance its ambition to become a leading Global Specialty Innovator in Healthcare.
  • The deal is expected to close in the first quarter of 2027, subject to customary closing conditions, regulatory approvals, & shareholder approval.
  • Financing for the transaction will be funded through proceeds from new debt.
  • Approximately 14% of Silence Therapeutics' voting power is covered by voting & support agreements from certain securityholders.
  • Silence Therapeutics employs approximately 80 people across locations in the UK, US, & Germany.
  • A&O Shearman is acting as legal counsel to Merck KGaA, Darmstadt, Germany for the transaction.