ZymoGenetics

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ZymoGenetics
Public
IndustryBiotechnology/Pharmaceuticals
Founded1981 (1981) in Seattle, Washington
FoundersEarl W. Davie, Michael Smith and Benjamin D. Hall
HeadquartersLake Union Steam Plant Building,
1201 Eastlake Avenue East, Seattle
,
Washington, USA
Key people
Stephanie Feldt
ProductsPharmaceuticals
OwnerBristol-Myers Squibb
WebsiteWebsite

ZymoGenetics, Inc was one of the oldest biotechnology/pharmaceutical companies in the USA,[1] based in Seattle, Washington. The company was involved in the development of therapeutic proteins. Located on Lake Union, the address of the ZymoGenetics headquarters was 1201 Eastlake Avenue East.[2]. It was closed in 2019 after its acquisition by Bristol Myers Squibb[3].

The company was founded in 1981[4] by Professors Earl W. Davie and Benjamin D. Hall of the University of Washington and 1993 Nobel Laureate in Chemistry Michael Smith of the University of British Columbia.[2] Soon after its founding, ZymoGenetics began working on recombinant proteins with Danish company Novo Nordisk, and was acquired by that company in 1988.[5] It was spun off as a public company in 2000.[1] Bristol-Myers Squibb acquired the company in 2010 for $885 million.[6]

ZymoGenetics' headquarters was previously in the landmark Lake Union Steam Plant building. This structure was built from 1914 to 1921 by Seattle City Light, the municipal electric utility.[7]. However, after its acquisition by Brystol-Myers-Squibb, the ZymoGenetics' Seattle operations were shuttered.

Corporate governance[edit]

In late 2013, the company's president, Stephen W. Zaruby, left and took up the president and chief executive officer roles at Aurinia Pharmaceuticals.[8]

References[edit]

  1. ^ a b Pollack, Andrew (23 October 2000). "ZymoGenetics Will Become Independent of Novo Nordisk". New York Times. Retrieved 21 May 2015. ZymoGenetics Inc. said it had arranged for $150 million in private financing that would allow it to become independent of its parent company, Novo Nordisk A.S. of Denmark.
  2. ^ a b "ZymoGenetics, a Bristol-Myers Squibb Company". Bristol-Myers Squibb. Retrieved 21 May 2015.
  3. ^ https://www.geekwire.com/2018/bristol-myers-squibb-will-close-seattle-zymogenetics-operations-next-year/
  4. ^ Timmerman, Luke (25 January 2011). "Bristol-Myers Squibb to Stay in Seattle, Keep ZymoGenetics Workers". Xconomy. Retrieved 21 May 2015. ZymoGenetics, the venerable biotech founded in 1981.
  5. ^ "Novo Nordisk completes divestment of ZymoGenetics, Inc". Bionity.com. 13 October 2010. Retrieved 21 May 2015. Novo Nordisk has been a shareholder of ZymoGenetics since 1988 and at the time of the transaction, Novo Nordisk owned 22,143,320 shares, equalling close to 26% of the share capital.
  6. ^ Carroll, John (8 September 2010). "BMS forges $885M deal to buy ZymoGenetics". FierceBiotech. Retrieved 21 May 2015. Bristol-Myers Squibb has struck a deal to buy Seattle-based ZymoGenetics for $885 million.
  7. ^ Timmerman, Luke (13 September 2010). "What Will Happen to ZymoGenetics' Landmark Headquarters when Bristol Calls the Shots?". Xconomy. Retrieved 21 May 2015.
  8. ^ Slatko, Joshua (December 2013). "BMS changes senior management team". People on the Move: Biopharma. Med Ad News. p. 27.

External links[edit]