Eleven Biotherapeutics Inc (NASDAQ:EBIO) and ARE-MA Region No. 38, LLC (the “Landlord”) entered into an Agreement for Termination of Lease and Voluntary Surrender of Premises (the “Termination Agreement”) under which they terminated by mutual consent the Lease Agreement by and between the Company and the Landlord entered into January 14, 2010, as amended (the “Lease Agreement”), regarding the Company’s corporate headquarters at 215 First Street, Suite 400, Cambridge, MA 02142.

The Lease Agreement was previously scheduled to expire on April 30, 2018. Pursuant to the Termination Agreement, subject to the condition that the Landlord enters into a lease agreement with an identified third party, the Lease Agreement expiration date will be accelerated to October 10, 2016. The Company will not incur any termination penalties in connection with the Termination Agreement. The Company has elected to terminate the Lease Agreement as it plans to move its corporate headquarters to 245 First Street, Suite 1800, Cambridge, MA 02142.