Nessan Bermingham returns to VC life; Sanofi's generics unit gets two industry bidders in EMS and Torrent Pharma
→ Now that Intellia Therapeutics $INTL is sailing steadily toward its first human studies with AbbVie vet John Leonard at the helm, Nessan Bermingham will officially re-join Atlas Venture as a venture partner. Bermingham had been CEO of the Atlas-backed CRISPR/Cas-9 upstart (which he co-founded) for four years, leading the company from seed investment through an IPO to clinical development. Back in his venture capitalist shoes, he will be scouting for new biotechs for the Atlas platform.
→ Two big pharma companies are duking it out for a chance to buy up Sanofi’s generic drugs unit, an asset worth as much as $2.4 billion. Brazil-based EMS and India-based Torrent Pharma are the only two bidders from the industry, while they go up against a slew of buyout funds including a consortium of Blackstone and Nordic Capital, Carlyle, BC Partners, and Advent. All parties are hoping to get their hands on Sanofi’s unit known as Zentiva. That’s according to Reuters, which cited unnamed sources familiar with the matter. Sanofi plans to find a buyer by the end of Q1, one of the sources said.