Novo Nordisk has entered into a license agreement with Deep Apple Therapeutics valued at up to $812 million. The collaboration centers on the development of small molecules targeting a G-protein-coupled receptor (GPCR) that is unrelated to incretins, for use in treating cardiometabolic diseases, including obesity.
Deep Apple Therapeutics, a California-based biotechnology company, was established by Apple Tree Partners. The venture capital firm has committed $52 million in Series A funding to support Deep Apple’s research into small-molecule drug candidates. The company utilizes artificial intelligence to generate and screen virtual compound libraries. Through this approach, Deep Apple has developed a pipeline that includes three obesity-focused programs. Although the specific targets have not been disclosed, two of the programs are aimed at receptors outside the GLP-1 pathway.
Under the terms of the deal, Novo Nordisk will gain global rights to develop and commercialize non-incretin oral therapies. The payment structure includes an upfront fee, funding for research, and milestone-based payments, amounting to a total potential value of $812 million. Deep Apple will remain responsible for discovering and optimizing the drug compounds using its AI-driven platform. Novo will participate in planning the research and will take over development just before the investigational new drug (IND)-enabling studies to begin.
Deep Apple’s technology incorporates cryo-electron microscopy to analyze the structure and behavior of GPCRs. This technique allows the company to observe receptor conformations and identify novel binding pockets. These insights are used in combination with virtual compound libraries to design small molecules that can bind to these unique sites. According to Deep Apple, “The target is well suited to Deep Apple’s platform,” referring to its specialized capabilities in structural biology and compound screening.
The partnership with Deep Apple is one of several strategic moves Novo Nordisk has made following the performance of its obesity candidate CagriSema. In a phase 3 trial completed late last year, the treatment did not meet the company’s internal expectations for weight loss, prompting a shift in direction.
In recent months, Novo has pursued multiple partnerships and acquisitions in an effort to expand its obesity drug pipeline. These include offering $50 million to Variant Bio, committing $190 million in near-term payments to Valo Health, entering a deal with Gensaic worth up to $354 million per target, and providing United Laboratories $200 million for a triple agonist program. Additionally, the company committed $200 million and $75 million in separate deals with Septerna and Lexicon Pharmaceuticals, respectively.
In March, Novo gained access to experimental obesity treatments through agreements with Lexicon Pharmaceuticals and United Laboratories International. The company has been working to maintain its market presence as competition from Eli Lilly intensifies and investor confidence in Novo’s development pipeline declines. In May, Novo replaced CEO Lars Fruergaard Jorgensen amid concerns over the company’s strategic direction and market position.
As part of the agreement with Deep Apple, the biotech is eligible to receive milestone payments totaling up to $812 million, in addition to royalties on any future product sales arising from the collaboration.
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