ZymoGenetics lists IPO on Nasdaq
Our Markets Bureau
02 February 2002
The Seattle-based company, a spin-off from the Danish parent Novo Nordisk, is the first biotechnology company to go public this year and is offering 10 million shares of its common stock for $12 per share. The lead underwriters on the transaction were Lehman Brothers and Merrill Lynch and Company. The co-lead managers were Bear, Stearns and Company and Pacific Growth Equities.
Says Nasdaq Stock Market vice-chairman David Weild: "We are ecstatic to welcome ZymoGenetics to Nasdaq. ZymoGenetics is a biotechnology company with a grand pedigree back to the beginnings of this great industry. Their devotion to revolutionising the treatment of a variety of human diseases, including autoimmune and cardiovascular diseases, is emblematic of the very best that Nasdaq companies offer. We're proud to inaugurate this chapter to support ZymoGenetics work to improve the quality of our lives."
Says ZymoGenetics president and CEO Bruce L A Carter, who opened and closed trading on Nasdaq on 1 February to celebrate the event said: "ZymoGenetics is extremely pleased to be working with Nasdaq as a new public company. Being listed on the Nasdaq exchange puts us along side our peers in the biotechnology area. We look forward to a long and mutually-beneficial relationship with Nasdaq."
ZymoGenetics is an independent biopharmaceutical company, focused on the discovery and development of protein therapeutics for the prevention or treatment of human diseases. Using a product discovery engine, comprising genomics, bioinformatics, protein chemistry and preclinical biology, ZymoGenetics has generated a broad pipeline of proprietary product candidates.
ZymoGenetics intends to commercialise these product candidates through internal development, collaborations with biopharmaceutical partners, and out-licensing of its extensive patent portfolio.