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Eleven Biotherapeutics changes its name to Sesen Bio

The new name Sesen- which stands for an ancient symbol of the lotus flower- better defines the company's focus on oncology
Cancer in body
The company's shares are trading sharply higher in afternoon trade

Eleven Biotherapeutics has opted to change its name to Sesen Bio and its stock ticker to SESN, starting tomorrow.

The move comes less than two years after the late-stage clinical company acquired Viventia Bio in a bid to launch a targeted protein therapeutics oncology group.

The new name Sesen – which stands for an ancient symbol of the lotus flower – better defines the company’s ambition to dedicate itself to oncology and to cater to patients who suffer from devastating cancers.

The news cheered investors who sent Eleven Biotherapeutic’s shares up 22% to US$3.23 in afternoon trade.

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