Market Overview

New Preclinical Data Highlighting Eleven Biotherapeutics' DeBouganin Program to be Presented at 2018 AACR Annual Meeting


Eleven Biotherapeutics, Inc. (NASDAQ:EBIO), a late-stage clinical
company developing next-generation antibody-drug conjugate (ADC)
therapies for the treatment of cancer, today announced that preclinical
data from the company's novel, next-generation ADC program using an
innovative deBouganin cytotoxic protein payload will be presented during
two poster sessions at the 2018 American Association for Cancer Research
Annual Meeting. The meeting is taking place April 14-18, 2018 in Chicago.

"We have uniquely designed our deBouganin payload to address tumor
indications that can only be reached through systemic delivery. Our data
show that deBouganin exhibits certain advantages over first-generation
ADCs, which use more conventional small molecule cytotoxins, with
respect to cell killing power, including the ability to kill cancer stem
cells, circumvent multi-drug resistance and avoid cross-resistance
mechanisms," said Gregory P. Adams, Ph.D., chief scientific officer of
Eleven Biotherapeutics. "We are pleased to be presenting these promising
data highlighting the potential activity and differentiation of our
approach compared to first-generation ADCs."

DeBouganin is a proprietary de-immunized variant of bouganin, a ribosome
inactivating protein that when internalized blocks protein synthesis,
thereby leading to cell death. Eleven Biotherapeutics will present data
from its VB6-845d program, a next-generation ADC comprised of a Fab
fragment specific for the epithelial cell adhesion molecule (EpCAM)
genetically linked to deBouganin via a furin protease sensitive peptide.
Data being presented suggest that VB6-845d mediates tumor cell killing
by an immunogenic cell death (ICD) pathway. The potential cross-priming
effect initiated by VB6-845d-induced ICD suggests that VB6-845d in
combination with immune checkpoint inhibitors may enhance their
effectiveness in EpCAM-positive epithelial cancers.

Poster Title: VB6-845d Tumor Cell Killing Elicits Biologic
Features of Immunogenic Cell Death
Date and Time: April 16,
2018 from 1:00 to 5:00 p.m. CT

In addition, in collaboration with Crescendo Biologics, the company will
present data demonstrating that a fusion protein comprised of the
company's deBouganin payload and Crescendo's Humabody® are
expressible as a soluble protein in E. coli supernatant. Crescendo's
Humabody products are a novel class of small, robust and potent protein
therapeutics based on fully human VH domain building blocks. In vitro
data support the potential of Humabody-deBouganin fusion constructs as
anti-cancer therapeutics.

Poster Title: Engineering and Characterization of Anti-PSMA
Humabody-DeBouganin Fusion Proteins

Date and Time: April 18, 2018 from 8:00 a.m. to 12:00 p.m. CT

About Eleven Biotherapeutics
Eleven Biotherapeutics, Inc. is
a late-stage clinical company advancing next-generation antibody-drug
conjugate therapies for the treatment of cancer based on the company's
Targeted Protein Therapeutics platform. The company's lead program,
Vicinium™, is currently in a Phase 3 registration trial for the
treatment of non-muscle invasive bladder cancer, with topline data
expected in mid-2018. Vicinium incorporates a tumor-targeting antibody
fragment and a protein cytotoxic payload into a single protein molecule
designed to selectively and effectively kill cancer cells while sparing
healthy cells. For more information, please visit the company's website

Cautionary Note on Forward-Looking Statements
Any statements
in this press release about future expectations, plans and prospects for
the Company, the Company's strategy, future operations, 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,
our ability to successfully develop our product candidates and complete
our planned clinical programs, our ability to obtain marketing approvals
for our product candidates, expectations regarding our ongoing clinical
trials, availability and timing of data from clinical trials, whether
interim results from a clinical trial will be predictive of the final
results of the trial or results of early clinical studies will be
indicative of the results of future studies, the adequacy of any
clinical models, expectations regarding regulatory approvals and other
factors discussed in the "Risk Factors" section of the Company's Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports
filed 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.

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