FOXBusiness.com - Bristol-Myers To Buy ZymoGenetics For $735 Million Net Of Cash: "Bristol-Myers Chief Executive Lamberto Andreotti said the acquisition gives the company 'full ownership of a promising investigational biologic that strengthens our very diversified hepatitis C portfolio.' The two companies have collaborated on development of pegylated-interferon lambda since January 2009. The product is now in Phase II trials.
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If this is true then it is another blow to Seattle's fledgling biotech industry. Zymo is one of the few companies with an approved product and just went through serious layoffs. Icos, Immunex, and a host of others have been bought, chewed up and discarded.
Oh well.
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