Eleven Biotherapeutics acquires Viventia Bio in all-stock deal

Sep. 21, 2016 7:25 AM ETSesen Bio, Inc. (SESN)SESNBy: Douglas W. House, SA News Editor1 Comment
  • Eleven Biotherapeutics (EBIO) inks an agreement with Canadian outfit Viventia Bio to acquire the Winnipeg-based firm for 4,013,431 shares of newly issued EBIO common stock. Selling shareholders will also be eligible to receive unspecified cash payments based on the achievement of certain milestones related to Viventia's lead product candidate Vicinium, a recombinant fusion protein in Phase 3 development for the treatment non-muscle invasive bladder cancer. Top-line data from the late-stage study are expected in H1 2018. In a Phase 2 trial, patients treated with Vicinium showed a 40% complete response rate after three months of therapy with no drug-related serious adverse events observed.
  • The combined company will continue to do business as Eleven Biotherapeutics and trade under the current symbol on NASDAQ. Viventia CEO Stephen Hurly will serve as President & CEO. Eleven President & CEO Abbie Celniker will remain a director.

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