ZymoGenetics, Inc. (ZGEN) was formed in 1981 and was acquired in 1988 by Novo Nordisk, one of the world's largest producers of therapeutic proteins, for 12 years. However, it became an independent pharmaceutical company after it was spun off from Novo Nordisk in 2000. The company completed an initial public offering in February, 2002. Since its inception in 1981, the company s focus on therapeutic proteins has allowed it to enter into collaboration agreements with other pharmaceutical companies like Johnson & Johnson, Novo Nordisk, and Eisai Co., Ltd. ZymoGenetics allowed these companies to market therapeutic proteins, which help earn royalties on product sales. ZymoGenetics has contributed to the discovery or development of six recombinant protein products currently being marketed by its collaborators. The company has also entered into an option and license agreement with Novo Nordisk, which allows it to earn revenue in the form of license fees and milestone payments.
An important element of ZymoGenetics' strategy is that the company intends to maintain all or a significant share of the commercial rights to a number of its product candidates in North American markets. As a result, the company will be required to pay a significant portion of the development costs for these product candidates.
ZymoGenetics employs over 500 employees and is headquartered in Seattle, WA.