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ZymoGenetics Announces Filing of Registration Statement

^{Published on 2008-11-25 15:49:08 - Market Wire}
 

SEATTLE--([ BUSINESS WIRE ])--ZymoGenetics, Inc. (NASDAQ: ZGEN) today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC). If and when the SEC declares the registration statement effective, it would allow the Company to offer and sell up to $100 million of its common stock, no par value per share, from time to time. The registration statement is intended to replace the Company's previously filed shelf registration statement, which will expire on December 1, 2008.

The registration statement filed with the SEC also includes the registration for resale of up to 21,759,861 shares of previously-issued common stock owned by Novo Nordisk Biotech Holdings, Inc. and an affiliate (Novo) and up to 9,387,559 shares of previously-issued common stock owned by Warburg, Pincus Equity Partners, L.P. and its affiliates (Warburg); the majority of such shares were issued in private placements prior to the Company's initial public offering in 2002. ZymoGenetics would not receive any proceeds, and the number of ZymoGenetics shares outstanding would not change, from any sales of Novo and Warburg shares.

Neither ZymoGenetics nor any of the shareholders covered by the registration statement have intentions to sell shares at this time. The terms of any future stock offerings pursuant to the registration statement would be established at the time of the offering.

The registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

About ZymoGenetics

ZymoGenetics discovers and develops novel protein therapeutics that are based on the Company's research and biological insights into key disease pathways. The Company developed and markets RECOTHROM^® Thrombin, topical (Recombinant). Other product candidates span a wide array of clinical opportunities that include cancer, autoimmune and viral diseases. ZymoGenetics intends to commercialize product candidates through internal development, collaborations with partners, and out-licensing of patents from its extensive patent portfolio. For further information, visit [ www.zymogenetics.com ].

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.These forward-looking statements are based on the current intent and expectations of the management of ZymoGenetics.These statements are not guarantees of future actions or performance and involve risks and uncertainties that are difficult to predict. ZymoGenetics' actual performance and the timing and outcome of actions may differ materially from those expressed in or implied by the forward-looking statements because of risks associated with both industry and general market and financial conditions, our unproven product sales and marketing abilities, discovery strategy, preclinical and clinical development, strategic partnering, regulatory actions and oversight, intellectual property claims and litigation and other risks detailed in the company's public filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended December 31, 2007 and subsequent Quarterly Reports on Form 10-Q. Except as required by law, ZymoGenetics undertakes no obligation to update any forward-looking or other statements in this press release, whether as a result of new information, future events or otherwise.