Eleven Biotherapeutics Changes Name to Sesen Bio to Reflect Commitment to Oncology Therapies

Eleven Biotherapeutics is rebranding itself as Sesen Bio and investors are pleased. This morning shares of Eleven are up more than 4 percent in premarket trading.This morning Stephen Hurly, president and chief executive officer of the newly dubbed Sesen Bio, said the name change reflects the “incredible transformation” the company has undergone over the past several years. He said the new name of Sesen Bio reinforces the company’s evolution and its “focused commitment” to the development of oncology drugs.“Sesen, an ancient symbol of the lotus flower, represents life and our mission to bring forward medicines that will improve and preserve the lives of those with devastating cancers,” Hurly said in a statement.