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.

Novo Nordisk A/S is partnering with US biotech Septerna Inc. on the development of oral pills for obesity in a deal potentially worth up to $2.2 billion.The two companies will start with four development programs that use different ways to potentially treat obesity,

Indianapolis-based Eli Lilly & Co. announced promising results from a large study of its own tablet in diabetes patients last month.