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Eleven Biotherapeutics (EBIO) Prices Downsized IPO, Grabs $50 Million


2/6/2014 7:28:01 AM

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Eleven Biotherapeutics Prices Initial Public Offering

CAMBRIDGE, Mass., Feb 06, 2014 (BUSINESS WIRE) -- Eleven Biotherapeutics, a biopharmaceutical company discovering and developing protein therapeutics to treat diseases of the eye, announced today the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $10.00 per share, before underwriting discounts and commissions. All of the shares in the offering are being sold by Eleven. Eleven’s common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading under the ticker symbol “EBIO” on February 6, 2014. In addition, Eleven has granted the underwriters an option for a period of 30 days to purchase, at the public offering price less the underwriting discount, up to 750,000 additional shares of common stock to cover over-allotments.

Citigroup, Cowen and Company and Leerink Partners LLC are acting as joint book-running managers of the offering. A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on February 5, 2014. The offering is being made only by means of a prospectus, copies of which can be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, or by email at batprospectusdept@citi.com , or by phone at (800) 831-9146; Cowen and Company, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by phone at (631) 274-2806, or by fax at (631) 254-7140; Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by email at syndicate@leerink.com , or by phone at (800) 808-7525, ext.4814.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Eleven Biotherapeutics

Eleven Biotherapeutics is a clinical-stage biopharmaceutical company with a proprietary protein engineering platform, called AMP-Rx, that it applies to the discovery and development of protein therapeutics to treat diseases of the eye. The company’s therapeutic approach is based on the role of cytokines in diseases of the eye, the company’s understanding of the structural biology of cytokines and the company’s ability to rationally design and engineer proteins to modulate the effects of cytokines. Cytokines are cell signaling molecules found in the body that can have important inflammatory effects.

SOURCE: Eleven Biotherapeutics

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