Eleven Biotherapeutics Announces Executive Change

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CAMBRIDGE, Mass.–(BUSINESS WIRE)–Eleven Biotherapeutics, Inc. (Nasdaq: EBIO), a clinical-stage biopharmaceutical company discovering and developing protein therapeutics to treat diseases of the eye, today announced that Gregory D. Perry has resigned as Chief Financial and Business Officer, effective July 3, 2015. John J. McCabe, Eleven’s Vice President of Finance and Business Operations, is promoted to assume the roles of Principal Financial Officer and Principal Accounting Officer, reporting directly to Abbie Celniker, PhD, President and Chief Executive Officer of Eleven Biotherapeutics.

“Greg has been an integral part of Eleven since before our IPO and we appreciate his service to our company,” said Dr. Celniker. “The management team, employees and board of directors have great respect for his leadership and we wish him the best in his next endeavor.”

Dr. Celniker commented further, “John has played a fundamental role in advancing Eleven’s business and financial operations over the past three years. Together with our existing team and current capital to fund operations, we will continue to seek solutions for important problems in ophthalmology through the design, engineering and development of ocular therapeutics, and remain on track to initiate our Phase 3 study in allergic conjunctivitis in the third quarter of this year.”

John McCabe has served as Vice President of Finance and Business Operations of Eleven since June 2013 and as Treasurer since September 2012. He served as Senior Director of Finance of Eleven from April 2012 to June 2013, bringing more than 20 years of finance and accounting experience to the company. Prior to joining Eleven, Mr. McCabe was Vice President of Finance at Clinical Data, Inc., a drug development company that was acquired by Forest Laboratories after FDA approval of its lead drug product for depression, Viibryd®. Previously, Mr. McCabe served in several financial roles at Interleukin Genetics, Inc., a genetics-focused personalized health company; and SatCon Technology Corporation, a developer of innovative power conversion solutions. Mr. McCabe began his career at PricewaterhouseCoopers LLP. He received a B.S. in Business Administration from the University of Vermont and is a Certified Public Accountant.

About Eleven Biotherapeutics

Eleven Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company with a proprietary protein engineering platform, called AMP-Rx, that it applies to the discovery and development of protein therapeutics to treat diseases of the eye. The Company’s therapeutic approach is based on the role of cytokines in diseases of the eye, the Company’s understanding of the structural biology of cytokines and the Company’s ability to rationally design and engineer proteins to modulate the effects of cytokines. Cytokines are cell signaling molecules found in the body that can have important inflammatory effects. For more information please refer to the Company’s website www.elevenbio.com.

Cautionary Note on Forward-Looking Statements

Any statements in this press release about future expectations, plans and prospects for the Company, including statements about the Company’s strategy, future operations, advancement or maturation of its product candidates and product pipeline, clinical development of the Company’s therapeutic candidates, including expectations regarding timing of initiation of clinical trials, patient enrollment and availability of results, regulatory requirements for initiation of clinical trials and registration of product candidates, sufficiency of cash resources and other statements containing the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties inherent in the initiation and conduct of clinical trials, availability and timing of data from ongoing clinical trials, whether results of early clinical trials will be indicative of the results of future trials, the adequacy of any clinical models, uncertainties associated with regulatory review of clinical trials and applications for marketing approvals and other factors discussed in the “Risk Factors” section of the Company’s quarterly report on Form 10-Q filed with the Securities and Exchange Commission on April 30, 2015 and other reports on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date hereof. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof.

Source: Business Wire Health