Eleven Biotherapeutics
May 5, 2014
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Eleven Biotherapeutics Appoints Gary Sternberg, M.D., M.B.A., as Executive Vice President Corporate and Business Development

Industry veteran and ophthalmologist brings product licensing and business development expertise

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Eleven Biotherapeutics (NASDAQ:EBIO), a clinical-stage biopharmaceutical company discovering and developing protein therapeutics to treat diseases of the eye, today announced the appointment of Gary J. Sternberg, M.D., M.B.A. as Executive Vice President of Corporate and Business Development. Dr. Sternberg brings more than 20 years of ophthalmology expertise including biotechnology and pharmaceutical industry experience and medical practice.

"With his outstanding business leadership and medical experience in the ophthalmology field, Gary is an excellent addition to the Eleven team as our pipeline of product candidates to treat ocular disease continues to mature," said Abbie Celniker, Ph.D., President and Chief Executive Officer of Eleven Biotherapeutics. "Gary has a well-established track record, with significant ophthalmic industry experience and proven ability in corporate and strategic transactions, product licensing and acquisitions, business development and alliance management."

"I am delighted to be joining Eleven at this exciting stage of its development with its lead product candidate, EBI-005, in a pivotal phase 3 clinical study for dry eye disease and a product pipeline that includes earlier stage ophthalmic product candidates targeting significant unmet needs, including back of the eye disease," said Dr. Sternberg. "I look forward to working with the Eleven team to advance its product pipeline to bring new treatments for ocular diseases to patients."

Prior to joining Eleven Biotherapeutics, Dr. Sternberg served as Therapeutic Head of Ophthalmic Medical Affairs for Genentech, a division of the Roche Group. Prior to Genentech, he served as Executive Director, Strategic Transactions Group for Bristol-Myers Squibb with responsibility for licensing across multiple therapeutic areas. Prior to Bristol-Myers Squibb, Dr. Sternberg served as Chief Business Officer for Fovea Pharmaceuticals, an ophthalmic focused biotechnology company, with primary responsibility for corporate development activities. Prior to Fovea, he served as Vice President Alliance Management and Business Development for Eyetech Pharmaceuticals Inc. and (OSI) Eyetech, Inc., OSI Pharmaceuticals, Inc.'s eyecare subsidiary. Dr. Sternberg is a board certified ophthalmologist. He earned his M.D. at State University of New York (SUNY - Brooklyn) and conducted his postgraduate residency training in Ophthalmology and fellowship training in Cornea, External Diseases and Refractive Surgery at Mount Sinai Medical Center. He obtained his M.B.A. from the University of Chicago.

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.

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, advancement or maturation of its product candidates and product pipeline, regulatory requirements for initiation of clinical trials and registration of product candidates, 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, 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 annual report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2014 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.

Eleven Biotherapeutics
Cameron Wheeler, PhD, 617-858-0927
The Yates Network
Gina Nugent, 617-460-3579

Source: Eleven Biotherapeutics

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