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Septerna Inc. (NASDAQ:SEPN) and Novo Nordisk A/S (NYSE:NVO) announced an exclusive global collaboration and license agreement on Wednesday.
The pact covers discovering, developing, and commercializing oral small-molecule medicines for obesity, type 2 diabetes, and other cardiometabolic diseases.
The companies will initially commence four development programs.
GPCRs represent the largest and most diverse family of cell membrane receptors, with hundreds of different GPCRs regulating physiological processes in nearly every organ system of the human body.
Using its proprietary Native Complex Platform, Septerna aims to unlock the full potential of GPCR therapies. The company is focused on discovering and developing a pipeline of oral small molecules for multiple therapeutic areas.
Septerna is eligible to receive approximately $2.2 billion across an upfront payment, R&D, and commercial milestone payments. It also includes over $200 million in upfront and near-term milestone payments.
Septerna can also receive tiered royalties on global net sales of marketed products. Under the collaboration, Novo Nordisk will cover all research and development expenses for partnered programs.
The companies will jointly conduct research activities from discovery through candidate selection.
Starting with IND-enabling activities, Novo Nordisk will be solely responsible for all global development and commercialisation activities. In addition, Septerna has the right to opt in to a worldwide profit share for one program in the collaboration in lieu of future milestones and royalties for that product candidate.
On Tuesday, secondary post hoc analysis of Novo Nordisk’s SELECT trial showed that within the first three months of Wrgovy treatment, reductions in the risk of MACE in adults with obesity and established cardiovascular disease (CVD) were seen.
Reductions were also observed within six months in the risk of dying from CVD or being hospitalized or needing urgent medical attention due to heart failure.
Data showed that within six months of treatment, a reduction in risk of CV death was observed for patients taking Wegovy related to CV death; lowered composite heart failure risk, and reduced death from any cause.
Price Action: Septerna stock is up 63.08% at $10.98. Novo Nordisk stock is up 1.87% at $66.62 at the last check on Wednesday.
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