Eleven Biotherapeutics announces pricing of initial public offering of common stock

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 [email protected], 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, 37^th Floor, Boston, MA, 02110, or by email at [email protected], or by phone at (800) 808‐7525, ext.4814.