The Puget Sound Business Journal is reporting on what may happen to ZymoGenetics as Bristol-Myers Squibb completes its acquisition of the bio-tech company.
ZymoGenetics occupies space in the historic Lake Union Steam Plant at the southern end of the Eastlake neighborhood.
A big question with the Bristol-Myers Squibb takeover was whether ZymoGenetics would remain in Seattle and, if not, what would happen to the old Steam Plant. As Xconomy posted in September, the Steam Plant isn't set up for multiple tenants and the space Zymo occupies is too big for most bio-tech firms.
Clay Holtzman from the Business Journal reports that a Bristol-Myers spokesperson told him Thursday that "virtually no one would be let go for three months. The exception being key executive positions. For example, CEO Doug Williams and President Steve Zaruby are no longer with the company."
What happens after that is uncertain. To read more of Holtzman's article, click here.