Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of ZymoGenetics, Inc. (“ZymoGenetics” or the “Company”) (NASDAQ:ZGEN) related to the Company’s agreement to be acquired by Bristol-Myers Squibb Company (“Bristol-Myers”). The proposed transaction is valued at approximately $885 million.

Under the terms of the definitive agreement entered into by the parties, a wholly owned subsidiary of Bristol-Myers has commenced a cash tender offer to purchase all of the outstanding shares of ZymoGenetics common stock for $9.75 per share. Shareholders holding approximately 37% of the outstanding shares of ZymoGenetics common stock have entered into agreements with Bristol-Myers to tender their shares in the offer. In addition, the merger agreement includes a provision under which ZymoGenetics has agreed not to solicit any competing offers for the Company. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by ZymoGenetics’ board of directors.

If you own shares of ZymoGenetics, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Copyright Business Wire 2010

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