Novo Nordisk and Septerna announced today an exclusive global collaboration and license agreement worth approximately $2.2 billion to discover, develop, and commercialize oral small molecule medicines for obesity, type 2 diabetes, and other cardiometabolic diseases.
The partnership, announced on May 14, 2025, will initially focus on four development programs targeting key G protein-coupled receptors (GPCRs), including the GLP-1, GIP, and glucagon receptors. These targets are central to metabolic regulation and represent a significant opportunity for developing novel oral therapies.
Marcus Schindler, Executive Vice President and Chief Scientific Officer of Novo Nordisk, emphasized the strategic importance of the collaboration: "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."
Leveraging GPCR Technology for Metabolic Disease
The collaboration combines Novo Nordisk's established leadership in obesity and diabetes therapeutics with Septerna's expertise in GPCR drug discovery. Septerna's proprietary Native Complex Platform™ is designed to unlock the full potential of GPCR therapies by isolating, purifying, and reconstituting GPCRs outside of cells.
GPCRs represent the largest and most diverse family of cell membrane receptors, regulating physiological processes throughout the human body. While GPCRs account for approximately one-third of all FDA-approved drugs, around 75% of potential GPCR therapeutic targets remain undrugged, representing a substantial opportunity for future drug discovery.
Jeffrey Finer, M.D., Ph.D., Chief Executive Officer and co-founder of Septerna, highlighted the significance of partnering with Novo Nordisk: "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 programmes targeting critical GPCRs for treating obesity, type 2 diabetes, and other related conditions."
Financial Terms and Development Responsibilities
Under the terms of the agreement, Septerna is eligible to receive approximately $2.2 billion from Novo Nordisk, including more than $200 million in upfront and near-term milestone payments. Additionally, Septerna will receive tiered royalties on global net sales of marketed products.
The companies will jointly conduct research activities from discovery through development candidate selection. Once IND-enabling activities begin, Novo Nordisk will assume sole responsibility for all global development and commercialization activities. Notably, Septerna retains the right to opt into a worldwide profit share for one program in the collaboration instead of receiving future milestones and royalties for that product candidate.
Novo Nordisk will cover all research and development expenses for partnered programs under the collaboration. The agreement is subject to customary closing conditions, with closing expected to occur in the second quarter of 2025.
Advancing Oral Therapies for Obesity and Metabolic Disease
This collaboration represents a significant step forward in the development of oral treatments for obesity and related metabolic conditions. Current GLP-1 receptor agonists like Novo Nordisk's semaglutide (Wegovy, Ozempic) have demonstrated remarkable efficacy but are limited to injectable formulations or oral versions with lower bioavailability.
The development of small molecule oral therapies targeting these receptors could potentially address limitations of current treatments, including administration challenges, manufacturing scalability, and cost concerns that have limited broader access to GLP-1 based therapies.
Septerna's Native Complex Platform™ is specifically designed to target GPCRs, uncover novel binding pockets for validated receptors, and pursue various pharmacological approaches. The platform can develop agonists (which activate GPCR signaling), antagonists (which inhibit GPCR signaling), and allosteric modulators (which either increase or decrease the degree of GPCR activation by endogenous ligands).
Market Impact and Future Outlook
The obesity treatment market has experienced explosive growth in recent years, with GLP-1 receptor agonists leading the charge. Developing oral small molecule alternatives could significantly expand treatment options and potentially reach more patients globally.
For Septerna, a biotechnology company focused on GPCR drug discovery, this collaboration provides substantial resources to advance its broader portfolio while working with an established leader in metabolic disease. The company's platform aims to unlock the full potential of GPCR therapies across multiple therapeutic areas, including endocrinology, immunology, inflammation, and metabolic diseases.
For Novo Nordisk, this partnership further strengthens its position in obesity and diabetes treatment while diversifying its approach beyond peptide-based therapies. The company continues to expand its pipeline across various targets and modalities to maintain its leadership in metabolic disease treatment.
The collaboration highlights the growing importance of novel technological platforms in drug discovery and the continued investment in developing more accessible treatments for obesity and related metabolic conditions, which remain significant global health challenges.
