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ZymoGenetics

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ZymoGenetics
Company typePublic
IndustryBiotechnology/Pharmaceuticals
Founded1981; 43 years ago (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
WebsiteArchived website

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][4]

The company was founded in 1981[5] 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] Initially named Zymos,[6] the company was forced to change its name to ZymoGenetics under threat of trademark infringement from the similarly named semiconductor company ZyMOS.[7] Soon after its founding, ZymoGenetics began working on recombinant proteins with Danish company Novo Nordisk, and was acquired by that company in 1988.[8] It was spun off as a public company in 2000.[1] Bristol-Myers Squibb acquired the company in 2010 for $885 million.[9][10]

ZymoGenetics' headquarters was previously in the landmark Lake Union Steam Plant building.[11] This structure was built from 1914 to 1921 by Seattle City Light, the municipal electric utility.[12] At the time, the building was in poor condition with many broken windows; Bruce Carter, the chief executive at the time, described it as "the mother of all fixer-uppers".[13] In December 2016, ZymoGenetics announced that they would not renew the lease to the Steam Plant building, due to expire in 2019;[14] the Fred Hutchinson Cancer Research Center later moved into it.[15] At the time, ZymoGenetics did not plan on closing its Bothell manufacturing site;[14] however, it was sold to Seattle Genetics in August 2017.[16] ZymoGenetics closed completely in 2019.[3][4]

Corporate governance

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In late 2013, the company's president, Stephen W. Zaruby, left and took up the president and chief executive officer roles at Aurinia Pharmaceuticals.[17]

References

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  1. ^ a b Pollack, Andrew (23 October 2000). "ZymoGenetics Will Become Independent of Novo Nordisk". The New York Times. Archived from the original on May 18, 2020. 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. Archived from the original on March 22, 2017. Retrieved 21 May 2015.
  3. ^ a b McGrane, Clare (November 1, 2018). "Bristol-Myers Squibb will close its Seattle Zymogenetics operations next year". GeekWire. Archived from the original on May 18, 2020.
  4. ^ a b Romano, Benjamin (November 1, 2018). "Seattle biotech stalwart ZymoGenetics prepares for year-end closure". The Seattle Times. Archived from the original on May 18, 2020.
  5. ^ Timmerman, Luke (25 January 2011). "Bristol-Myers Squibb to Stay in Seattle, Keep ZymoGenetics Workers". Xconomy. Archived from the original on May 18, 2020. Retrieved 21 May 2015. ZymoGenetics, the venerable biotech founded in 1981.
  6. ^ "In Remembrance: Dr. Benjamin D. Hall (1932-2019)". Washington Research Foundation. Retrieved 2023-08-13.
  7. ^ Dr. Ben Hall - November 1, 2011, retrieved 2023-09-13
  8. ^ "Novo Nordisk completes divestment of ZymoGenetics, Inc". Bionity.com. 13 October 2010. Archived from the original on May 18, 2020. 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.
  9. ^ Carroll, John (8 September 2010). "BMS forges $885M deal to buy ZymoGenetics". FierceBiotech. Archived from the original on May 18, 2020. Retrieved 21 May 2015. Bristol-Myers Squibb has struck a deal to buy Seattle-based ZymoGenetics for $885 million.
  10. ^ "Bristol-Myers Squibb buying ZymoGenetics". September 7, 2010. Archived from the original on May 18, 2020.
  11. ^ "Focus: Seattle; Transforming a Rundown Lake Shoreline (Published 1993)". 1993-07-04. Retrieved 2023-08-13.
  12. ^ Timmerman, Luke (13 September 2010). "What Will Happen to ZymoGenetics' Landmark Headquarters when Bristol Calls the Shots?". Xconomy. Archived from the original on May 18, 2020. Retrieved 21 May 2015.
  13. ^ Romano, Benjamin (June 15, 2018). "The Hutch's 30-year journey to the Lake Union steam plant". The Seattle Times. Archived from the original on May 18, 2020.
  14. ^ a b Lerman, Rachel (December 14, 2016). "ZymoGenetics won't renew South Lake Union lease". The Seattle Times. Archived from the original on May 18, 2020.
  15. ^ Romano, Benjamin (June 11, 2018). "Hutch cancer center will put labs in Seattle's historic Lake Union steam plant". The Seattle Times. Archived from the original on May 18, 2020.
  16. ^ Erb, George (August 1, 2017). "Seattle Genetics buys biotech factory in Bothell". The Seattle Times. Archived from the original on May 18, 2020.
  17. ^ Slatko, Joshua (December 2013). "BMS changes senior management team" (PDF). People on the Move: Biopharma. Med Ad News. Vol. 32, no. 12. p. 27. ISSN 1067-733X. Archived (PDF) from the original on May 18, 2020.
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