Merck KGaA agrees $1.3 billion acquisition of Silence Therapeutics to expand rare disease siRNA pipeline
Merck KGaA has agreed to acquire Silence Therapeutics in an all-cash transaction valued at approximately $1.3 billion in equity, expanding its RNA interference pipeline.
The acquisition will add Silence Therapeutics' siRNA development platform and divesiran, an investigational Phase III-ready treatment candidate for polycythemia vera, to Merck's pharmaceutical research portfolio.
Merck will pay $20 per American depositary share, representing approximately $1.3 billion in equity value and $1.1 billion in enterprise value, with completion subject to customary closing conditions.
Field | Content |
Article Type | Deals |
Companies | Merck KGaA; Silence Therapeutics |
Deal Type | Definitive all-cash acquisition agreement |
Acquirer | Merck KGaA |
Target | Silence Therapeutics |
Target Country | United Kingdom |
Offer Price | $20 per American depositary share |
Equity Value | Approximately $1.3 billion |
Enterprise Value | Approximately $1.1 billion |
Transaction Structure | All-cash acquisition |
Transaction Status | Definitive agreement signed; completion pending |
Agreement Execution Date | 18 October 2026 |
Announcement Date | 19 October 2026 |
Key Pipeline Asset | Divesiran |
Key Asset Development Stage | Phase III-ready |
Key Asset Indication | Polycythemia vera |
Therapeutic Modality | Small interfering RNA (siRNA) |
Technology Platform | RNA interference drug development |
Therapeutic Areas | Rare diseases; haematology |
Closing Conditions | Customary transaction closing conditions |
What Happened | Merck KGaA agreed to acquire Silence Therapeutics for approximately $1.3 billion in equity value. |
Why It Matters | The acquisition expands Merck's capabilities in RNA interference therapeutics and adds a late-stage investigational candidate for a rare blood cancer. |
Strategic Rationale | Merck gains access to Silence's siRNA technology platform and divesiran development programme. |
Key Takeaway | The transaction has an approximately $1.3 billion equity value and $1.1 billion enterprise value; these are distinct valuation measures. |
What to Watch | Transaction completion, divesiran Phase III development plans, regulatory milestones and integration of Silence's RNAi platform. |
Primary Source | Merck KGaA |
Primary Source URL | https://www.emdgroup.com/en/news/silence-therapeutics-19-10-2026.html |
Relevant Date | 19 October 2026 |
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