Novo Nordisk (NVO) and Septerna (SEPN) said Wednesday they will collaborate on a project to develop and commercialize oral small molecule medicines for obesity, type 2 diabetes and other cardiometabolic diseases.
Under the terms of the agreement, Septerna is eligible to receive about $2.2 billion from Novo Nordisk for upfront payments and research, development and commercial milestone payments, the companies said.
Septerna shares jumped 63% in premarket trading, while Novo Nordisk was 2.2% higher.
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