Merck KGaA agreed to acquire London-based Silence Therapeutics in an all-cash deal valued at $1.3 billion, adding late-stage rare-disease siRNA Divesiran to its pipeline. Silence shareholders will receive $20.00 per ADS (equivalent to $6.6667 per ordinary share), representing a roughly 48% premium to the company’s August offering price. Divesiran is designed to treat polycythemia vera (PV) by silencing TMPRSS6 to raise hepcidin, aiming to limit iron availability for excessive red-blood-cell production and reduce hematocrit burden. Current PV care relies on phlebotomies and cytoreductive drugs, with no approved therapy specifically targeting red blood cell and hematocrit control. Merck said it expects closing in the first quarter of 2027, with Merck and Silence to operate independently until then. Company leadership framed the deal as part of Merck’s continued pipeline transformation into targeted specialty and rare disease assets.