– USA, MA – Enumeral Biomedical Holdings, Inc. (OTCQB:ENUM), 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 announced that Wael Fayad has been appointed Chairman, President, and Chief Executive Officer of the Company, effective as of September 21, 2016.
Mr. Fayad brings to Enumeral more than two decades of senior executive and business development experience in the life sciences industry. From 2001 to 2014, Mr. Fayad held positions of increasing responsibility at Forest Laboratories, Inc., most recently as Corporate Vice President, Global Business Development. In that role, he was responsible for business development and alliance management, including the identification, assessment and negotiation of multiple business opportunities. Mr. Fayad helped build and manage a broad network of partnerships at Forest, and upon Forest’s acquisition by Actavis, Mr. Fayad also assisted with the integration of the two companies. Mr. Fayad was subsequently engaged in a number of entrepreneurial ventures, including helping to launch V&C Pharmaceuticals, a start-up company focusing on improving healthcare outcomes and reducing the total cost of care. Mr. Fayad continues to serve on V&C Pharmaceuticals’ advisory board. Prior to Forest, Mr. Fayad served in positions of increasing responsibility at Schering-Plough and Novartis in the fields of sales, marketing, and new product development. Mr. Fayad holds a B.S. in biology from the American University of Beirut, and an M.B.A. from Concordia University.
In connection with Mr. Fayad’s appointment as Chairman, President, and Chief Executive Officer, John J. Rydzewski stepped down as Enumeral’s Executive Chairman and from the Company’s Board of Directors. Arthur H. Tinkelenberg, Ph.D., Enumeral’s former President and Chief Executive Officer, also stepped down from the Company’s Board of Directors.
“I am very excited to join Enumeral, a company with distinguished science in the fields of immuno-oncology and the immune response to disease,” said Mr. Fayad. “I am especially encouraged by the progress Enumeral has made in building and validating its platform and advancing highly differentiated programs. I look forward to further harnessing the power of Enumeral’s platform, and to accelerating the company’s evolution to advance treatments that meet compelling patient needs in cancer and other diseases.”
“We are particularly pleased to have Wael lead Enumeral as Chairman and Chief Executive Officer, and we thank Art and John for their many contributions since the Company’s founding,” said Robert Van Nostrand, the Company’s lead independent director. “We are now embarking on a new chapter in Enumeral’s history as we seek to further advance the Company’s core platform capabilities and antibody drug discovery efforts.”
“Wael is a life sciences industry veteran with a deep network of commercial relationships that can help to unlock the value of Enumeral’s platform,” said Allan Rothstein, a member of the Company’s Board of Directors. “Wael clearly recognizes our company’s potential, which itself is further validation of what we have built at Enumeral.”
Enumeral is a biopharmaceutical company focused on discovering and developing novel antibody-based immunotherapies to help the immune system fight cancer and other diseases. The Company is building a pipeline focused on next-generation checkpoint modulators, with initial targets including PD-1, TIM-3, LAG-3, OX40, TIGIT, and VISTA. In developing these molecules, Enumeral’s researchers apply a proprietary immune profiling technology platform that measures functioning of the human immune system at the level of individual cells. This provides key insights for drug candidate selection and target validation.
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