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Merck KGaA has sealed a $3.9bn deal to acquire SpringWorks. Credit: LumiNola / Getty Images

Merck KGaA (Merck) has moved to strengthen its position in oncology and rare diseases with a $3.9bn agreement to acquire SpringWorks Therapeutics. Under the deal, Merck will pay $47 per share in cash, representing a 26% premium to SpringWorks’ average share price over the 20 days leading up to 7 February 2025, the day before media reports of the potential acquisition surfaced.

Private equity firm KKR has offered to buy all shares in Swedish life sciences company Biotage for Skr11.6bn ($1.2bn). The public cash offer, via a newly formed company by KKR called RWK BidCo, is for Skr145 per share in Biotage. The offer, made on 22 April, represents a 60.1% premium on the life science group’s last closing share price on 17 April.

Swiss oncology firm Veraxa Biotech is set to go public in the US through a merger with Voyager Acquisition Corp, a healthcare special purpose acquisition company (SPAC). The deal, expected to close in Q4 2025, will list Veraxa on the Nasdaq stock exchange, trading under the ticker symbol VERX. The deal also gives Veraxa access to US capital markets as it continues to expand its pipeline of targeted cancer therapies.

Boehringer Ingelheim has signed a €500m ($572m) agreement with UK-based biotech Tessellate Bio to co-develop targeted cancer therapies for tumours that rely on the alternative lengthening of telomeres (ALT) mechanism – a lesser-known telomere maintenance process that supports the survival of certain hard to treat cancers.