Novo Nordisk has struck a collaboration and licensing deal with U.S. biotech Septerna to develop oral small molecule medicines for obesity, type 2 diabetes and other cardio-metabolic diseases that could be worth up to $2.

Novo Nordisk A/S is partnering with US biotech Septerna Inc. on the development of oral pills for obesity in a deal potentially worth up to $2.2 billion.The two companies will start with four development programs that use different ways to potentially treat obesity,

The deal with U.S. biotech Septerna will see the companies develop pills to treat obesity, type 2 diabetes and other cardiometabolic diseases.