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ZymoGenetics Gets $20M From Bristol

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.