Eleven Biotherapeutics acquires Viventia Bio to create new oncology company

21 September 2016

USA-based Eleven Biotherapeutics (Nasdaq: EBIO) has announced it has acquired Canadian company Viventia Bio to create a targeted protein therapeutics oncology company.

Under the agreement Eleven will purchase all the outstanding capital stock of Viventia in exchange for 4,013,431 newly issued shares of Eleven stock, valuing the company at around $13.5 million. News of the deal pushed Eleven's share price up as much at 25%.

The company will continue to be named Eleven Biotherapeutics but will be led by Vivientia’s chief executive officer, Stephen Hurly.

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