Edgar Filing: ZYMOGENETICS INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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3235-0287

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

LEFF JONATHAN S

2. Issuer Name and Ticker or Trading Symbol
ZYMOGENETICS INC [ZGEN]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O WARBURG PINCUS & CO., 466 LEXINGTON AVENUE

3. Date of Earliest Transaction (Month/Day/Year)
02/21/2008

(Street)

NEW YORK, NY 10017

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value per share	02/21/2008		P		200	A	$ 9.02	7,800,720	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		1,542	A	$ 9.03	7,802,262	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		500	A	$ 9.04	7,802,762	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		2,100	A	$ 9.05	7,804,862	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		3,900	A	$ 9.06	7,808,762	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		900	A	$ 9.07	7,809,662	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		1,000	A	$ 9.08	7,810,662	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		1,600	A	$ 9.09	7,812,262	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		7,100	A	$ 9.1	7,819,362	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		4,000	A	$ 9.11	7,823,362	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		3,163	A	$ 9.12	7,826,525	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		5,000	A	$ 9.13	7,831,525	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		10,700	A	$ 9.14	7,842,225	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		12,548	A	$ 9.15	7,854,773	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		17,717	A	$ 9.16	7,872,490	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		9,300	A	$ 9.17	7,881,790	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		7,900	A	$ 9.18	7,889,690	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		800	A	$ 9.19	7,890,490	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		400	A	$ 9.2	7,890,890	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		100	A	$ 9.21	7,890,990	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		600	A	$ 9.22	7,891,590	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		500	A	$ 9.23	7,892,090	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		100	A	$ 9.24	7,892,190	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		1,200	A	$ 9.25	7,893,390	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		500	A	$ 9.26	7,893,890	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		600	A	$ 9.27	7,894,490	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		1,200	A	$ 9.28	7,895,690	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		400	A	$ 9.29	7,896,090	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		800	A	$ 9.3	7,896,890	I	See footnotes ⁽¹⁾ ⁽²⁾
Common Stock, no par value per share	02/21/2008		P		200	A	$ 9.32	7,897,090	I	See footnotes ⁽¹⁾ ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
LEFF JONATHAN S C/O WARBURG PINCUS & CO. 466 LEXINGTON AVENUE NEW YORK, NY 10017	X

Signatures

Jonathan S. Leff, Director, by /s/ Scott Arenare, Attorney-in-fact*		02/25/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The shares of the common stock, no par value per share (the "Common Stock"), of ZymoGenetics, Inc. to which this Form 4 relates are held by Warburg, Pincus Equity Partners, L.P., a Delaware limited partnership, and two affiliated partnerships organized under Netherlands law, Warburg, Pincus Netherlands Equity Partners I, C.V. and Warburg, Pincus Netherlands Equity Partners III, C.V. (together, "WPEP"). Warburg Pincus & Co., a New York general partnership ("WP"), is the managing member of Warburg Pincus Partners LLC, a New York limited liability company ("WP Partners"). WP Partners is the general partner of WPEP. WPEP is managed by Warburg Pincus LLC, a New York limited liability company ("WP LLC" and together with WPEP, WP and WP Partners, the "Warburg Pincus Entities").
(2)	Jonathan S. Leff, a director of the Issuer, is a General Partner of WP and a Managing Director and Member of WP LLC, and therefore, may be deemed to have an indirect pecuniary interest (within the meaning of Rule 16a-1 under the Exchange Act) in an indeterminate portion of the Common Stock held by WPEP. All shares indicated as owned by Mr. Leff are included because of his affiliation with the Warburg Pincus Entities. Mr. Leff disclaims beneficial ownership of the Common Stock held by the Warburg Pincus Entities.
Remarks: Exhibit List Table I (cont'd) - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned * The Power of Attorney given by Mr. Leff was previously filed with SEC on September 13, 2007 as an exhibit to a statement on Form 4 filed by Mr. Leff with respect to ZymoGenetics, Inc.

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