Eleven Biotherapeutics, Inc., a Cambridge, Mass.-based biopharmaceutical company designing and engineering novel and differentiated protein-based biotherapeutics, has raised $20m in Series A equity financing, expanding the total round to $45m.
Backers include new investor JAFCO Co., Ltd., which committed $10m, and existing investors Third Rock Ventures and Flagship Ventures.
In conjunction with the funding, Kenji Harada, PhD, Principal of JAFCO, will join Eleven Biotherapeutics’ board of directors.
The company intends to use the financing to advance its first program, EBI-005 for the treatment of dry eye syndrome, into clinical development while continuing to advance earlier stage programs generated by its proprietary AMP-Rx product engine.
Founded in 2010, Eleven Biotherapeutics is led by CEO Abbie Celniker, PhD.