3 Key Takeaways
- Novo Nordisk and Septerna have entered a global collaboration to develop oral small molecule therapies for obesity, type 2 diabetes, and other cardiometabolic diseases, initially targeting four programs focused on key G protein-coupled receptors (GPCRs), including GLP-1, GIP, and glucagon receptors.
- The deal could total up to $2.2 billion for Septerna, including upfront and milestone payments, tiered royalties, and an option for profit-sharing on one program, with Novo Nordisk funding all R&D costs and leading development from the IND-enabling stage onward.
- The partnership leverages Septerna’s Native Complex Platform, designed to precisely target GPCRs by screening billions of molecules and enabling diverse pharmacological approaches to unlock a broad range of previously untapped drug discovery opportunities.
Novo Nordisk announced that it has entered an exclusive global collaboration with Septerna to discover, develop, and commercialize oral small molecule medicines for obesity, type 2 diabetes, and other cardiometabolic diseases. According to the company, the partnership is expected to focus on four development programs targeting G protein-coupled receptors (GPCRs), including the GLP-1, GIP, and glucagon receptors.
What are the Financial Terms of Novo Nordisk’s Collaboration with Septerna?
Under the terms of the deal, Septerna has the potential to receive up to $2.2 billion, which includes an upfront payment, as well as research, development, and commercial milestone payments. Additionally, Septerna will be eligible to receive tiered royalties on global net sales of any marketed products. While Novo Nordisk will fund research and development expenses, the companies will collaborate on research activities from discovery through development candidate selection. From there, Novo Nordisk will take the lead on Investigational New Drug-enabling activities.1
“Novo Nordisk has a rich history of innovation in obesity and diabetes,” said Marcus Schindler, EVP, chief scientific officer, Novo Nordisk, in a press release. “We are building on our scientific leadership in this space and developing a broad pipeline across various targets and modalities, including peptides and small molecules. Leveraging different modalities creates important optionality in our pipeline in terms of potential targets, dosing regimens and scalability. Septerna has demonstrated strong capabilities in GPCR drug discovery, and we are excited about the opportunity to develop oral small molecule medicines directed at multiple targets.”
The collaboration is also expected to utilize Septerna’s Native Complex Platform, a drug discovery platform built to unlock the full potential of GPCRs. According to Novo Nordisk, the platform screens billions of candidate molecules and is designed to precisely engage specific GPCRs.1
Novo Nordisk Expands Strategic Activity in 2025
This isn’t the first deal of the year for Novo Nordisk. In March, the company announced three other collaborations. These agreements include a licensing deal with Lexicon Pharmaceuticals to acquire the global rights to LX9851, a first-in-class oral therapy targeting metabolic disorders. Additionally, the company announced an exclusive $1.8 billion license agreement with The United Laboratories for UBT251, a triple receptor agonist targeting GLP-1, GIP, and glucagon. The company also announced a $354 million deal with Gensaic to develop new therapeutic candidates to treat cardiometabolic disease, with Gensaic having the potential to receive additional commercial milestone and tiered royalty payments.2,3
GPCRs Remain a High-Value but Underexplored Target Class
According to Novo Nordisk, GPCRs are the largest and most varied group of cell surface receptors, playing key roles in regulating functions across nearly every organ system in the body. They are the most successfully targeted receptor class in drug development, making up about one-third of all FDA-approved therapies. Despite this, roughly 75% of GPCRs with therapeutic potential have yet to be targeted.1
“Novo Nordisk has a long-standing track record of bringing transformative therapies to market, particularly in the field of metabolic disease, which makes them the ideal partner to advance a suite of programs targeting critical GPCRs for treating obesity, type 2 diabetes and other related conditions,” said Jeffrey Finer, MD, PhD, CEO, co-founder, Septerna, in the press release. “This collaboration provides a significant opportunity to create multiple potentially groundbreaking oral medicines, while also providing Septerna with the operational flexibility and resources to advance our diverse portfolio of other GPCR-targeted programs.”
Closing of the deal is subject to customary closing conditions, such as the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.1
References
1. Novo Nordisk A/S: Septerna and Novo Nordisk to collaborate on oral small molecule medicines for obesity and other cardiometabolic diseases. Novo Nordisk. May 14, 2025. Accessed May 14, 2025. https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916006
2. Novo Nordisk Reaches Licensing Deal with Lexicon Pharmaceuticals for Novel Obesity Candidate. PharmExec. March 28, 2025. Accessed May 14, 2025. https://www.pharmexec.com/view/novo-nordisk-licensing-deal-lexicon-pharmaceuticals-novel-obesity-candidate
3. Gensaic Announces Collaboration with Novo Nordisk to Unlock Next Generation Precision Therapies. BusinessWire. March 3, 2025. Accessed May 14, 2025. https://www.businesswire.com/news/home/20250303601052/en/Gensaic-Announces-Collaboration-with-Novo-Nordisk-to-Unlock-Next-Generation-Precision-Therapies
