ZymoGenetics
A Seattle biotechnology company that developed therapeutic proteins and was acquired by Bristol-Myers Squibb in 2010.
Last updated August 24, 2026
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Overview
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.
History
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]ZymoGenetics ceased operating as a company after its integration into Bristol-Myers Squibb.
- 2017
Bothell manufacturing site sold
[1]ZymoGenetics sold its Bothell manufacturing facility to Seattle Genetics.
- 2016
Announced departure from Lake Union headquarters
[1]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]Bristol-Myers Squibb acquired ZymoGenetics for approximately $885 million.
- 2000
Spun off as a public company
[1]ZymoGenetics became an independent publicly traded biotechnology company through a spin-off from Novo Nordisk.
- 1988
Acquired by Novo Nordisk
[1]Novo Nordisk acquired ZymoGenetics following collaboration between the companies on recombinant proteins.
- 1981
Company founded in Seattle
[1]Earl W. Davie, Benjamin D. Hall, and Michael Smith founded the biotechnology company initially known as Zymos.
- 1981
Name changed to ZymoGenetics
[1]The company changed its name after a trademark challenge involving the similarly named semiconductor company ZyMOS.
Products and positioning
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.
Brand decisions
2017
Sale of Bothell manufacturing facilityM&ABackground
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.
2016
Decision not to renew Lake Union headquarters leaseStrategyBackground
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.
2010
Bristol-Myers Squibb acquisitionM&ABackground
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)
2000
Spin-off into an independent public companyStrategyBackground
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.
1988
Accepted acquisition by Novo NordiskM&ABackground
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.
Sources1 sources
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