May 16 (UPI) -- Danish drugmaker Novo Nordisk is teaming up with California-based biotech Septerna to develop new pills to treat obesity, type 2 diabetes and other metabolic diseases.
The deal could be worth up to $2.2 billion for Septerna. This includes more than $200 million in upfront and short-term milestone payments, plus future rewards tied to research, development and sales. Septerna will also get royalties on any future product sales, The Wall Street Journal reported.
Novo Nordisk will pay all the research and development costs for the project.
The U.S. biotech company has developed a platform that finds and develops drugs that target special proteins called G protein-coupled receptors.
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