Merck KGaA, the German healthcare and technology group, is in advanced talks to acquire U.S. cancer and rare diseases drugmaker Springworks Therapeutics, according to people familiar with the matter.

As SpringWorks Therapeutics nears a key regulatory decision in the U.S., the Connecticut-based cancer and rare disease drugmaker has attracted the attention of a biopharma bigwig from overseas. | Merck KGaA is in advanced talks to acquire cancer and rare disease specialist SpringWorks,

Merck KGaA said it’s in advanced talks to purchase SpringWorks Therapeutics Inc., sending shares of the US cancer and rare diseases drugmaker soaring.

SpringWorks Therapeutics ( NASDAQ: SWTX) soared ~40% after a report that Merck KGaA ( OTCPK:MKGAF) is in advanced discussions to acquire the cancer and rare disease drugmaker.

Following an initial report from Reuters, Merck KGaA confirmed that it is in talks with SpringWorks for a potential acquisition, though details of its offer have yet to be revealed.