ZymoGenetics Gets $20M From Bristol
Luke Timmerman3/12/09
ZymoGenetics disclosed today that it has received a $20 million milestone payment from Bristol-Myers Squibb, as part of a larger partnership potentially worth $1.1 billion, which the companies announced in January. ZymoGenetics (NASDAQ: ZGEN) has now received $105 million under the deal, which gives Bristol-Myers Squibb the right to co-develop pegylated interferon lambda. It’s an experimental treatment for hepatitis C that is designed to kill the liver-damaging virus with fewer side effects than existing interferons.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
