India, May 14 -- Septerna, Inc. (SEPN) and Novo Nordisk A/S (NVO) Wednesday announced partnership to develop and sell oral small molecule medicines for obesity, type 2 diabetes and other cardiometabolic diseases. Following the news, Septerna shares surged more than 67% in pre-market activity.
The companies will initially develop four oral small molecule therapies for select G protein-coupled receptor (GPCR) targets, including the GLP-1, GIP and glucagon receptors.
As per the terms of the agreement, Septerna is eligible to receive about $2.2 billion from Novo Nordisk. This includes more than $200 million in upfront and near-term milestone payments. Septerna is also eligible to get tiered royalties on sales of marketed products. Septerna an...