Long-suf­fer­ing Eleven hands the reins over to a new CEO with his own pipeline plans

Toron­to-based Viven­tia Bio has found a short route on­to Nas­daq. The biotech has arranged to get ac­quired by Cam­bridge, MA-based Eleven Bio­ther­a­peu­tics, lit­tle more than a shell with a bank ac­count now that its lead drug failed twice and it com­plet­ed a deal to li­cense out its re­main­ing pro­gram to Roche. And Viven­tia CEO Stephen Hurly will now re­main at the helm, op­er­at­ing as Eleven.

In the deal, Eleven $EBIO pur­chased Viven­tia’s stock in ex­change for a lit­tle more than 4 mil­lion shares and an un­spec­i­fied set of mile­stones. And Hur­ley will con­tin­ue to do what he was do­ing be­fore, de­vel­op­ing new can­cer drugs that fuse an­ti­body frag­ments with cy­to­tox­ic pro­teins.

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