Eleven Biotherapeutics raises $50m via IPO


dollar envelope moneyVenture capital-backed biopharmaceutical company Eleven Biotherapeutics has raised $50m via an IPO on the Nasdaq exchange.

The company offered 5m shares prices at $10 per share and granted the underwriters a 30-day option to acquire an additional 750,000 shares to cover over-allotments.

Citigroup, Cowen and Company and Leerink Partners acted as joint bookrunners for the IPO.

The company is backed by Third Rock Ventures, Flagship Ventures and Jafco.

Eleven Biotherapeutics is a clinical stage company with a protein engineering platform, called AMP-Rx, that it applies to the discovery and development of protein therapeutics to treat diseases of the eye.

Jafco led the company’s $20m Series A round in May 2012.

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