Merck KGaA agreed to acquire Silence Therapeutics in a deal valued at about $1.3 billion, expanding the German pharma’s push into RNA medicines and rare, high-unmet-need diseases. The acquisition brings Silence’s siRNA pipeline under Merck KGaA control and targets a pivotal path for its lead candidate in polycythemia vera (PV). Silence’s program centers on divesiran, a short-interfering RNA therapy backed by positive Phase 2 data in PV. The transaction also reflects escalating competition in PV, where the current standard includes Takeda’s Mimrylo and established therapies such as Incyte’s Jakafi. Under the announced terms, Merck KGaA plans to pay $20 in cash for each U.S.-listed Silence share, implying a premium to the prior trading price. Merck expects deal closing in the first quarter of 2027 and will move forward with a Phase 3 development plan for divesiran. The buyout underscores how drugmakers are using M&A to de-risk late-stage execution in RNA modalities—while also building scale for expensive confirmatory trials in crowded rare-disease segments.