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BRIEF-Eleven Biotherapeutics buys Viventia Bio to create oncology company

Sept 21 Eleven Biotherapeutics Inc

* Eleven Biotherapeutics acquires Viventia Bio to create targeted protein therapeutics oncology company

* Stephen Hurly to serve as president and chief executive officer of combined company

* Purchased all of outstanding capital stock of Viventia in exchange for issuance of 4 million newly issued shares of Eleven stock

* Eleven has received $22.5 million milestone payment based on investigational new drug application for EBI-031 becoming effective

* Board elected Stephen Hurly and Leslie L. Dan to serve as members of Eleven's board of directors

* Eleven has received $30 million in payments from Roche, including a $7.5 million upfront payment

* Acquisition was approved by boards of directors of both companies

* Proxinium expected to enter phase 2 development in early 2017 for treatment of late-stage squamous cell carcinoma of head, neck

* Could get up to $240 million upon achievement of certain future regulatory, development and commercialization milestones

* Cary G. Pfeffer resigned from Eleven's board of directors

* John Mccabe, will continue to serve as chief financial officer of eleven

* Following acquisition, an entity affiliated with Leslie L. Dan became second largest shareholder of Eleven

* Could be entitled to get royalties based on future products sales with EBI-031,potential future products containing Eleven Il-6 compounds

* On August 16, announced effectiveness of exclusive license agreement with Roche for Eleven's Il-6 antagonist antibody technology

* Eleven granted Roche exclusive, worldwide license to develop, commercialize EBI-031,all other Il-6 antagonist antibody technology Source text for Eikon: Further company coverage:

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