Novo Nordisk Signs $1.8 Billion Deal for Oral Drug Development With Orbis

Danish pharmaceutical company Novo Nordisk has signed a deal worth up to 1.8 trillion won with Orbis Medicines, a developer of oral macrocycle drugs.

According to U.S. pharmaceutical trade publication Fierce Biotech on the 17th local time, the companies agreed to jointly develop next-generation oral macrocycle therapies targeting “high-value” targets in cardiometabolic diseases. The number and nature of the specific targets were not disclosed.

Upfront and milestone payments to Orbis could total up to $1.4 billion (approximately 1.8 trillion won). Novo Nordisk will also make a strategic investment in Orbis. Both companies are headquartered in Copenhagen, Denmark.

This is Orbis’ first deal with a large pharmaceutical company. Orbis was founded by Novo Holdings, the investment firm that is Novo Nordisk’s largest shareholder, and has raised 116 million euros (approximately 155.4 billion won) through a Series A round involving Eli Lilly’s venture capital arm and other financing since 2024.

Macrocycles are ring-shaped molecules that can alter interactions between proteins. Whereas typical small-molecule compounds have relatively rigid rings made up of five to seven atoms, macrocycles generally contain 12 or more atoms.

Orbis has used its artificial intelligence (AI)-based “nGen” platform to create oral macrocycle candidates called “nCycles.” Morten Graugaard, CEO of Orbis, said, “The nGen platform designs oral macrocycles that have the potential to replace injectable drugs,” adding, “Together with Novo Nordisk, we have an opportunity to open a new era of oral medicines for cardiometabolic diseases.”

Novo Nordisk has recently experienced a series of setbacks in its cardiometabolic pipeline. The company discontinued development of a once-monthly glucagon-like peptide (GLP-1) drug this Monday and last week abandoned two phase 3 trials of ziltivekimab. Ziltivekimab had previously been viewed by analysts as a potential blockbuster for treating inflammation.

Brian Vandahl, executive vice president of therapeutic discovery at Novo Nordisk, said, “We believe this collaboration has the potential to unlock innovative oral treatment options for patients with cardiometabolic diseases and expand the possibilities of macrocycle therapies.”