Located at 1201 Eastlake Ave. E, in the historic City Light Steam Plant building on the shores of Lake Union, the new expansion will house laboratory and office space for the independent biopharmaceutical firm. ZymoGenetics' business focuses on the discovery, development and commercialization of protein-based therapeutic for the prevention or treatment of human diseases such as cardiovascular disease, autoimmune disease, cancer and tissue repair.

The architect on the expansion project is MBT Architecture. The new addition will feature a brick, metal and glass facade similar to the firm's existing structure. The project also includes a 12,450-sf underground parking garage. Construction on the project is set for a June 2004 completion date .

ZymoGenetics was founded in 1981 and acquired by Novo Nordisk in 1988 as a wholly owned subsidiary. In late 2000 the firm once again became independent through a spinout transaction. The firm completed an initial public offering and initiated trading on the Nasdaq Exchange on Feb. 1, 2002. The firm's stock closed at 12.631 on Wednesday.