You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

6

0

▲  3rd Inning 0 outs

Eleven Biotherapeutics secures $20m and expands Series A financing

Eleven Biotherapeutics Inc., a Cambridge biopharmaceutical company, said Tuesday that it has secured $20 million dollars in Series A equity financing, expanding the total Series A investment to $45 million.

New investor, JAFCO Co. Ltd., a Tokyo-based private equity firm, joined the Series A financing with a $10 million investment; $10 million was also received from commitments from existing investors, Third Rock Ventures and Flagship Ventures, which helped found the company in 2010, Eleven Biotherapeutics said in a press release.

Continue reading below

Third Rock of Boston and Flagship of Cambridge are venture capital firms with a focus on the life sciences industry.

Part of the proceeds from the financing will be used to advance Eleven’s first drug candidate, known as EBI-005, into clinical development later this year. The drug is designed to treat dry-eye syndrome.

Chris Reidy can be reached at reidy@globe.com.
Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.