Pharma BD Deal Intelligence

Novo Nordisk A/S / Septerna, Inc.

2025 · Licensing/Option · $2.2B · Pending

Septerna and Novo Nordisk entered an exclusive global collaboration and license agreement to discover, develop and commercialize oral small molecule medicines for obesity, type 2 diabetes and other cardiometabolic diseases, initially covering four programs directed at select GPCR targets including the GLP-1, GIP and glucagon receptors. Septerna receives a $195 million upfront payment and is eligible for approximately $2.2 billion in total consideration including up to roughly $500 million in milestones per program. The companies stated closing was expected in the second quarter of 2025.

Key facts

• Announced May 14, 2025
• Deal value $2.2B
• Deal type Licensing/Option
• Therapeutic area Metabolic

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• Novo Nordisk A/S / Forma Therapeutics Holdings Inc. (2022)
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