Eleven Biotherapeutics Files Registration Statement for Proposed Initial Public Offering

Eleven Biotherapeutics, a biopharmaceutical company discovering and developing protein therapeutics to treat diseases of the eye, announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. All shares of the common stock in the offering will be sold by Eleven. The number of shares to be offered and the price range for the offering have not yet been determined.

Citigroup, Cowen and Company, LLC and Leerink Swann LLC are acting as joint book-running managers of the offering. The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering can be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, or by email at [e-mail], or by phone at [phone]; Cowen and Company, LLC c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department or by phone at [phone] or by fax at [phone]; Leerink Swann LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, or by email at [e-mail] or by phone at [phone], ext. 4814.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a 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.

Eleven Biotherapeutics
Cameron Wheeler, PhD, 617-858-0927
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The Yates Network
Gina Nugent, 617-460-3579
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