ZymoGenetics Won’t Renew Lease in SLU in 2019

32891314-c24f-11e6-bef8-9f9aca15af67-1020x683ZymoGenetics, a biotechnology company that manufactures therapeutic proteins, has been based in South Lake Union for many years, but that will change over the next three years.

On Tuesday, December 13th, ZymoGenetics’ parent company, Bristol-Myers Squibb said that they will not be renewing their lease when it expires in 2019. The company has been located in the iconic old Seattle City Light Steam Plant building on the southeast shore of the lake.

Bristol-Myers Squibb purchased the biotechnology company for approximately $885 million in 2010. In 2015, they moved dozens of jobs from Seattle to San Francisco.

Currently, approximately 80 people work at the plant in South Lake Union, and the parent company has more plans to move additional jobs to other locations around the U.S. They are also closing their locations in Hopewell, New Jersey and Wallingford, Connecticut. Bristol-Myers Squibb is opening a research facility in Cambridge, Massachusetts as well as building a new facility in Lawrenceville, New Jersey for research and development.

While the SLU location was ZymoGenetics’ “microbial center of excellence,” according to spokeswoman Laura Hortas, “Based on changes in R&D, we now have a limited number of microbial assets under development … As a result, we intend to exit the Lake Union plant in 2019.”

ZymoGenetics other Washington location, a Bothell manufacturing site with 70 employees, will remain open.

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