ZymoGenetics

ZymoGenetics was a United States biotechnology and pharmaceutical company established in 1981 in Seattle, Washington. Its research centered on recombinant proteins and protein-based medicines, with particular interest in biologically active molecules such as coagulation factors and growth-related proteins. The company was founded by University of Washington professors Earl W. Davie and Benjamin D. Hall together with Michael Smith, a University of British Columbia scientist who later received the 1993 Nobel Prize in Chemistry. The business initially operated under the name Zymos, but changed its name to ZymoGenetics after facing a trademark challenge from the similarly named semiconductor company ZyMOS. Early in its development, ZymoGenetics entered into work on recombinant proteins with the Danish company Novo Nordisk. Novo Nordisk acquired ZymoGenetics in 1988, giving the smaller research company access to the resources and commercial infrastructure of a major international healthcare group. ZymoGenetics later became independent again through a spin-off that produced a public company in 2000. As an independent biotechnology business, it pursued therapeutic-protein programs and sought to convert its biological research into regulated medicines. Its best-known product was Tretten, a recombinant form of human coagulation factor XIII used to treat congenital factor XIII deficiency, a rare bleeding disorder. The product represented the company’s focus on specialized recombinant biologics rather than broad consumer healthcare products. The company was closely associated with Seattle’s Lake Union area. From the mid-1990s, its headquarters occupied the historic Lake Union Steam Plant building at 1201 Eastlake Avenue East. The site became part of the company’s visual and institutional identity, although the building required substantial renovation when ZymoGenetics moved in. In December 2016, the company announced that it would not renew its lease when it expired in 2019. Its Bothell manufacturing facility was treated separately and was sold to Seattle Genetics in August 2017. Bristol-Myers Squibb agreed to acquire ZymoGenetics in 2010 for approximately $885 million. The transaction brought ZymoGenetics’ protein-drug research and development assets into a larger pharmaceutical organization. After the acquisition, the ZymoGenetics corporate identity gradually ceased to operate as an independent business. The company ultimately closed completely in 2019. It is therefore best understood historically as an independent biotechnology company and, subsequently, as an acquired research and development organization within Bristol-Myers Squibb.

ZymoGenetics was founded in 1981 in Seattle by Earl W. Davie and Benjamin D. Hall of the University of Washington and Michael Smith of the University of British Columbia. The founders brought academic expertise in molecular biology and protein science to a company intended to develop recombinant proteins for therapeutic use. The business was initially called Zymos, but it adopted the ZymoGenetics name after a trademark dispute threat from the similarly named semiconductor company ZyMOS. During its early years, ZymoGenetics worked with Novo Nordisk on recombinant-protein research. The relationship led to Novo Nordisk’s acquisition of the company in 1988. Under Novo Nordisk’s ownership, ZymoGenetics continued as a biotechnology research and development operation within a larger international healthcare group. It later became independent through a spin-off in 2000, returning to the public markets as a standalone biotechnology company. As an independent company, ZymoGenetics concentrated on protein therapeutics and related biologic medicines. Its research interests included coagulation factors and growth factors. The company’s most notable commercial product was Tretten, recombinant human coagulation factor XIII, developed for congenital factor XIII deficiency. That indication reflected the company’s emphasis on specialized therapies for uncommon and medically significant conditions. ZymoGenetics established its corporate presence at Seattle’s Lake Union Steam Plant during the mid-1990s. The historic building, located at 1201 Eastlake Avenue East, had been constructed by Seattle City Light between 1914 and 1921 and required extensive restoration. The headquarters became an identifiable part of the company’s Seattle history. In 2016, ZymoGenetics said it would not renew the building lease when it expired in 2019. The building was subsequently associated with the Fred Hutchinson Cancer Research Center. Bristol-Myers Squibb acquired ZymoGenetics in 2010 for approximately $885 million. The acquisition ended ZymoGenetics’ independence and transferred its research, development, and commercial assets into Bristol-Myers Squibb. Although the company’s Bothell manufacturing operation was not initially expected to close, that facility was sold to Seattle Genetics in 2017. ZymoGenetics ultimately closed entirely in 2019. Its legacy is principally connected with the development of recombinant therapeutic proteins, the Seattle biotechnology ecosystem, and the movement of specialized biotechnology companies into larger pharmaceutical groups.

• 2019

  Company closed

  [1]ZymoGeneticsen.wikipedia.org

  ZymoGenetics ceased operating as a company after its integration into Bristol-Myers Squibb.

• 2017

  Bothell manufacturing site sold

  [1]ZymoGeneticsen.wikipedia.org

  ZymoGenetics sold its Bothell manufacturing facility to Seattle Genetics.

• 2016

  Announced departure from Lake Union headquarters

  [1]ZymoGeneticsen.wikipedia.org

  ZymoGenetics announced that it would not renew its lease at the Lake Union Steam Plant after the lease expired in 2019.

• 2010

  Acquired by Bristol-Myers Squibb

  [1]ZymoGeneticsen.wikipedia.org

  Bristol-Myers Squibb acquired ZymoGenetics for approximately $885 million.

• 2000

  Spun off as a public company

  [1]ZymoGeneticsen.wikipedia.org

  ZymoGenetics became an independent publicly traded biotechnology company through a spin-off from Novo Nordisk.

• 1988

  Acquired by Novo Nordisk

  [1]ZymoGeneticsen.wikipedia.org

  Novo Nordisk acquired ZymoGenetics following collaboration between the companies on recombinant proteins.

• 1981

  Company founded in Seattle

  [1]ZymoGeneticsen.wikipedia.org

  Earl W. Davie, Benjamin D. Hall, and Michael Smith founded the biotechnology company initially known as Zymos.

• 1981

  Name changed to ZymoGenetics

  [1]ZymoGeneticsen.wikipedia.org

  The company changed its name after a trademark challenge involving the similarly named semiconductor company ZyMOS.

Specialist biotechnology company focused on developing recombinant proteins and targeted therapeutic biologics, particularly in coagulation and related medical applications.

• Recombinant coagulation-factor therapy

  Tretten

  Tretten was ZymoGenetics’ best-known therapeutic product. It is a recombinant form of human coagulation factor XIII intended for the treatment of congenital factor XIII deficiency, a rare inherited bleeding disorder. The product illustrates the company’s focus on biologic medicines based on recombinant proteins and on specialized therapies serving narrowly defined patient populations.

• 2017

  Sale of Bothell manufacturing facilityM&A

  Background

  ZymoGenetics had not initially planned to close its Bothell manufacturing site after announcing its headquarters lease decision.

  Action taken

  The Bothell facility was sold to Seattle Genetics.

  Aftermath

  The sale separated the manufacturing site from the remaining ZymoGenetics corporate operation, which closed completely in 2019.

  Source

• 2016

  Decision not to renew Lake Union headquarters leaseStrategy

  Background

  The company’s lease at the historic Lake Union Steam Plant was scheduled to expire in 2019.

  Action taken

  ZymoGenetics announced that it would not renew the lease.

  Aftermath

  The building later became associated with the Fred Hutchinson Cancer Research Center, while ZymoGenetics continued its transition under Bristol-Myers Squibb.

  Source

• 2010

  Bristol-Myers Squibb acquisitionM&A

  Background

  Bristol-Myers Squibb sought to acquire ZymoGenetics’ therapeutic-protein research and development assets.

  Action taken

  Bristol-Myers Squibb acquired ZymoGenetics for approximately $885 million.

  Aftermath

  ZymoGenetics became part of Bristol-Myers Squibb and eventually ceased operating as an independent company.

  Acquisition value. $885 million (2010 acquisition)

  Source

• 2000

  Spin-off into an independent public companyStrategy

  Background

  After operating under Novo Nordisk, ZymoGenetics was separated from its parent and returned to independent corporate ownership.

  Action taken

  The company was spun off as a public biotechnology company.

  Aftermath

  ZymoGenetics pursued its own therapeutic-protein development programs as an independent business until its acquisition by Bristol-Myers Squibb.

  Source

• 1988

  Accepted acquisition by Novo NordiskM&A

  Background

  ZymoGenetics had begun working with Novo Nordisk on recombinant proteins and was still developing its biotechnology platform.

  Action taken

  Novo Nordisk acquired the company and brought it into its healthcare group.

  Aftermath

  ZymoGenetics continued as a biotechnology operation within Novo Nordisk until its later spin-off.

  Source

1. 1ZymoGeneticsen.wikipedia.org