ZymoGenetics
| Company type | Public (until acquisition) |
|---|---|
| Industry | Biotechnology, Pharmaceuticals |
| Founded | 1981 |
| Founder | Earl W. Davie, Benjamin D. Hall, Michael Smith |
| Defunct | 2019 |
| Fate | Acquired by Bristol-Myers Squibb |
| Headquarters | Seattle, Washington , United States |
Key people | Stephen W. Zaruby (former president) |
| Products | Therapeutic proteins |
| Parent | Bristol-Myers Squibb (from 2010) |
ZymoGenetics, Inc was a trailblazing firm in the biotechnology and pharmaceutical sectors, headquartered in Seattle, Washington. Specializing in the development of therapeutic proteins, its main office was located at 1201 Eastlake Avenue East near Lake Union. The company ceased operations in 2019 after being acquired by Bristol-Myers Squibb.
Established in 1981 by University of Washington professors Earl W. Davie and Benjamin D. Hall alongside Nobel Prize winner Michael Smith from the University of British Columbia, the enterprise originally bore the name Zymos. Due to trademark conflicts, it was later renamed ZymoGenetics. An early partnership with Danish company Novo Nordisk culminated in Novo Nordisk acquiring ZymoGenetics in 1988. The company became publicly traded in 2000 following a spin-off and was subsequently purchased by Bristol-Myers Squibb in 2010 for $885 million, underscoring its substantial market presence and growth trajectory.
From the mid-1990s onward, ZymoGenetics operated out of the historic Lake Union Steam Plant building—a notable landmark constructed by Seattle City Light between 1914 and 1921. Although initially in poor condition, this facility evolved into a symbol of the company's leadership within Seattle's biotech landscape. In 2016, ZymoGenetics declared it would not extend its lease at this location, initiating a transition prior to shutting down. The manufacturing site located in Bothell was sold to Seattle Genetics in 2017.
Focusing on recombinant protein therapeutics innovation formed the core of ZymoGenetics’ business strategy, providing a competitive edge within the biotech industry. Its integration into Bristol-Myers Squibb broadened the latter’s product range and international footprint until ZymoGenetics’ independent operations concluded.
Corporate governance
In late 2013, then-president Stephen W. Zaruby left his role to assume the position of president and CEO at Aurinia Pharmaceuticals, marking a significant leadership change.