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Can-Fite BioPharma Announces 2013 Milestones and Corporate Strategy



1/29/2013 11:19:05 AM

Petah Tikva, Israel, January 29, 2013 - Can-Fite BioPharma (TASE: CFBI; OTC: CANFY) a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, announced today the company's upcoming milestones for 2013.

Can-Fite plans to continue its positive momentum in 2013 in the Company’s drug portfolio, which will translate into growth catalysts poised to drive Can-Fite’s business. The below milestones are a preview of what the Company potentially is expecting to deliver, based on clinical data. Key Can-Fite drug portfolio milestones in 2013:

CF-101

• Continuation of the phase 2/3 Psoriasis study following the positive interim results released in December 2012

• Submit a protocol for a phase 2 Uveitis study during Q2 2013

• Receive final phase 2b Rheumatoid Arthritis study results, as a stand-alone therapy, in mid-2013

• Receive interim analysis results of the phase 2 Glaucoma study in mid-2013

• Receive phase 3 dry eye syndrome study results expected in Q4 2013

CF-102 • Submit a protocol for a phase 2 liver cancer study during Q2 2013, following positive final results of the phase 1/2 study in liver cancer and Hepatitis C in the liver, in January 2012

Can-Fite’s leading proprietary compounds, CF-101 and CF-102, are centered on multi-billion dollar market opportunities. The psoriasis drug market is forecasted to grow 86% from $3.6 billion in 2010 to $6.7 billion by 2018, while the rheumatoid arthritis drug market is expected to grow 50% from $12 billion in 2010 to $18 billion by 2020. The global liver cancer drugs market is expected to exceed $2 billion by 2015. In regards to Can-Fite’s ophthalmic indications, the dry eye syndrome market is forecasted to grow 47% from $1.9 billion in 2010 to $2.8 billion by 2017, while glaucoma was projected to be valued at $3 billion in 2010.

Can-Fite CEO Pnina Fishman, Ph.D., commented, “2012 marked a critical year for Can-Fite as we continued to make progress on our lead program indications. Many of these indications serve a multi-billion dollar market, which is growing every year. We hope to service these markets with our CF-101 and CF-102 pipeline drugs as they complete clinical testing.”

Dr. Fishman continued, “We have made considerable strides in our drug portfolio with support from some of our major corporate partners including Seikagaku Corporation and Kwang Dong Pharmaceutical Co. Ltd. We are also in late-stage testing with our ophthalmic indications for dry eye syndrome, glaucoma, and uveitis from Ophthalix, Inc., our spin-off Company, with an ownership of 82%. We look forward to the results from some of these clinical trials and are excited about what the future holds for us. We feel 2013 can truly be a breakthrough year for Can-Fite.”

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd is an Israeli public company, the ordinary shares of which are traded on the Tel Aviv Stock Exchange (TASE: CFBI). American Depository Receipts of the company are traded on the over-the-counter market (OTC: CANFY). The company, which commenced business activity in 2000, was founded by Pnina Fishman, Ph.D., researcher in the Rabin Medical Center, and Ilan Cohn Ph.D., patent attorney and senior partner at Reinhold Cohn Patent Attorneys. Pnina Fishman serves as CEO of the company. The company was founded on the basis of Fishman’s scientific findings, and is focused on the development of small molecule orally bioavailable drugs, ligands to the A3 adenosine receptor. The latter mediates anti-inflammatory and anti-cancer effects and is suggested as a biological predictive marker. The company’s lead drug, CF101, is in clinical development for the treatment of autoimmune inflammatory diseases. The CF102 drug candidate is being developed for the treatment of liver diseases. Can-Fite has a wealth of clinical experience: to date, more than 700 patients have participated in clinical trials conducted by the company. Can-Fite previously licensed its activity in the ophthalmic field to OphthaliX Inc., in which it holds a controlling interest (OTC: OPLI).


Read at BioSpace.com


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