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