AbbVie inked a licensing deal Monday worth up to $2.23 billion for an amylin-targeting obesity treatment from Denmark-based Gubra A/S.

A licensing deal with Denmark’s Gubra gives the immunology giant control of an experimental therapy that could compete with drugs from Novo Nordisk, Eli Lilly and Zealand.

AbbVie has signed a licensing deal with Gubra A/S to develop an obesity drug, marking the North Chicago company's first foray into the obesity market.

GUB014295 is a subcutaneously administered long-acting amylin agonist that also stimulates calcitonin receptors, according to AbbVie. Amylin is a hormone that gives a feeling of fullness in the brain that suppresses appetite, reduces food intake, and delays gastric emptying.

The licensing deal could set the US drugmaker to vie with Eli Lilly & Co. and Novo Nordisk A/S, the current leaders in a market that's expected to reach $130 billion in annual sales by 2030

The obesity medicine field has gained a new entrant, with AbbVie licensing an experimental drug from a Danish company.

AbbVie ABBV announced that it has entered into a licensing agreement with Denmark-based biotech Gubra for the latter’s experimental obesity drug, GUB014295. This marks the American drugmaker’s foray into the lucrative obesity market.