Bristol-Myers Squibb Begins Tender Offer to Acquire ZymoGenetics, Inc.

Bristol-Myers Squibb Company is commencing , through its wholly owned subsidiary Zeus Acquisition Corporation, a cash tender offer to purchase all outstanding shares of common stock of ZymoGenetics, Inc. (NASDAQ: ZGEN). Bristol-Myers Squibb announced on Tuesday, September 7, 2010 its intent to acquire ZymoGenetics.

Upon the successful closing of the tender offer, shareholders of ZymoGenetics will receive $9.75 in cash for each share of ZymoGenetics common stock validly tendered and not validly withdrawn in the offer, without interest and less any required withholding taxes. Following the purchase of shares in the tender offer, ZymoGenetics will become a subsidiary of Bristol-Myers Squibb.