Merck KGaA, the German healthcare and technology group, said on Monday it is in advanced talks to acquire U.S. cancer and rare diseases drugmaker SpringWorks Therapeutics. Merck, in a statement, said its negotiations to buy SpringWorks are ongoing,

Germany’s Merck KGaA is in advanced talks to aquire the U.S. biopharmaceutical company that specializes in rare diseases and cancer.

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.