Enumeral Biomedical Holdings, Inc. (OTCQB:ENUM) ("Enumeral" or the "Company"), a biotechnology company focused on the discovery and development of novel antibody-based immunotherapies to help the immune system fight cancer and other diseases, today provided a business update and announced its financial results for the quarter ended September 30, 2016. "Over the last several weeks, we have begun to implement our plans to set Enumeral on a new course," said Wael Fayad, Enumeral's Chairman, Chief Executive Officer and President. "Innovation and collaboration are the foundation of our turnaround plans. Of course, we also recognize that we need to raise additional funding before the end of 2016 in order to advance our plans, and we are pursuing a range of potential transactions." "Our proprietary platform technology allows us to understand the complex biology of disease with efficiency and precision. We want to use this to make a major contribution to the advancement of novel therapies that could make a real difference in patients' lives. We believe in the near term we can better attain this goal and create more value for our stockholders by seeking collaborations with other companies, rather than by attempting to advance our discoveries to the clinic ourselves," continued Mr. Fayad. "Significant value can often be created at the pre-clinical stage. I believe that Enumeral now has the business acumen to combine with its scientific know-how to deliver results." "I am encouraged by our progress in validating Enumeral's platform and advancing our internal pipeline, particularly with respect to our differentiated ENUM 244C8 PD-1 antibody candidate. ENUM 244C8 enhances human T cell activation even though its binding epitope does not compete with currently marketed antibodies for binding to PD-1, nor does it compete with PD-L1 binding," said Mr. Fayad. "If we are able to secure sufficient funding, we also plan to advance our TIM-3 program to lead candidate stage and generate pre-clinical data as a single agent and in combination with PD-1. Furthermore, we continue to pursue opportunities to further advance our pipeline focused on next-generation checkpoint modulators."