Novo Nordisk reached a $2.2 billion deal to develop a new weight loss therapy.

On May 14th, local time in Europe, Novo Nordisk announced that they have reached a partnership and licensing agreement with the American biotechnology company Septerna to jointly develop orally available small molecule drugs for the treatment of obesity, type 2 diabetes, and other cardiovascular metabolic diseases. The agreement is valued at an estimated $2.2 billion.