PE-backed ZymoGenetics (NASDAQ: ZGEN) has agreed to be acquired by Bristol-Myers Squibb (NYSE: BMY) for $885 million. ZymoGenetics shareholders will receive $9.75 per share of common stock. The company researches and develops therapeutic proteins for the treatment of human diseases and is being advised by Goldman Sachs, Latham & Watkins and Fenwick & West. Bristol-Myers is being advised by Morgan Stanley and Kirkland & Ellis. ZymoGenetics was acquired by Warburg Pincus, Apax Partners and Novo A/S in a 2000 LBO and subsequently went public in 2002.