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 with U.S. biotech Septerna will see the companies develop pills to treat obesity, type 2 diabetes and other cardiometabolic diseases.

Novo Nordisk has struck a collaboration and licensing deal with U.S. biotech Septerna to develop oral small molecule medicines for obesity, type 2 diabetes and other cardio-metabolic diseases that could be worth up to $2.