ZymoGenetics was established in Seattle in 1981 by University of Washington professors Earl Davie and Benjamin Hall, along with University of British Columbia professor Michael Smith. The company was acquired by Novo Nordisk in 1988, but spun off again as a separate public company in 2000, and was acquired again by Bristol-Myers Squibb in 2010. In 1993, the company moved into a decommissioned 1914 Seattle City Light Steam Plant and adjacent Hydro House in South Lake Union, and completed historic restoration on the iconic building. In 2019, Bristol-Myers Squibb closed its offices at the Steam Plant, although the company's manufacturing site in Bothell remains open (as of 2019).

This picture shows Bruce Carter, president of ZymoGenetics, in a company lab a day before the ground-breaking ceremony for the South Lake Union Steam Plant restoration.

Caption information sources: Washington Life Science History, http://www.washingtonlifescience.com/history; "ZymoGenetics won't renew South Lake Union lease," by Rachel Lerman, Seattle Times, December 14, 2016; "What Will Happen to ZymoGenetics' Landmark Headquarters when Bristol Calls the Shots?" by Luke Timmerman, Xconomy, September 13, 2010, https://xconomy.com/seattle/2010/09/13/what-will-happen-to-zymogenetics-landmark-headquarters-when-bristol-calls-the-shots/.
Caption information also derived from captions written by Post-Intelligencer staff and attached to the back of the photograph.