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ZymoGenetics Collects $120M in First Biotech IPO of 2002

NEW YORK, Feb. 1 - ZymoGenetics has earned $120 million in an IPO that also marks the first initial public offering for a biotech company this year, the company said on Friday. 

 

Shares in ZymoGenetics now trade on the Nasdaq exchange.

The company, a Seattle-based spinoff of Novo Nordisk, offered 10 million shares of its common stock at $12 apiece. They were trading at $12.01 just before noon on Friday.

The lead underwriters were Lehman Brothers and Merrill Lynch & Co. Co-lead managers were Bear, Stearns & Co. and Pacific Growth Equities.

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