ZymoGenetics

Last updated
ZymoGenetics
Company typePublic
IndustryBiotechnology/Pharmaceuticals
Founded1981;44 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
Owner Bristol-Myers Squibb
Website Archived 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]

Contents

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 occupied the landmark Lake Union Steam Plant building beginning in the mid-1990s. [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

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

  1. 1 2 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. 1 2 "ZymoGenetics, a Bristol-Myers Squibb Company". Bristol-Myers Squibb. Archived from the original on March 22, 2017. Retrieved 21 May 2015.
  3. 1 2 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. 1 2 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. 1 2 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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