07:39 AM EDT, 05/14/2025 (MT Newswires) -- 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 ( SEPN ) is eligible to receive about $2.2 billion from Novo Nordisk ( NVO ) for upfront payments and research, development and commercial milestone payments, the companies said.

Septerna ( SEPN ) shares jumped 63% in premarket trading, while Novo Nordisk ( NVO ) was 2.2% higher.