Based: Cambridge, MA
Raised: $25.5 million
Investors: Flagship Ventures, JAFCO, Third Rock Ventures
The scoop: The biotech got started a couple of years ago after the founding venture groups brought some of the top minds in protein engineering to the table. They've been engineering the first protein therapy for ophthalmology--an IL-1 receptor inhibitor--that can be delivered with an eye dropper. And the developer plans to follow up with another ophthalmology candidate that will trail the lead program by about 12 months. Eleven was named a Fierce 15 company in 2010.