Can-Fite BioPharma: Seikagaku Corporation, the Exclusive Licensee of CF101 in Japan, Is to Commence Phase I Clinical Trial in Japan With CF101 for the Treatment of Rheumatoid Arthritis

PETACH TIKVA, Israel--(BUSINESS WIRE)--Can-Fite BioPharma (TASE:CFBI), a biotechnology company traded on the Tel Aviv Stock Exchange announced today that Seikagaku Corporation (SKK), the exclusive licensee of Can-Fite’s CF101 in the Japanese market, is about to commence phase I clinical trial in Japan with CF101 for the treatment of rheumatoid arthritis. Under the terms of the 2006 agreement between SKK and Can-Fite, Can-Fite will receive a consideration of USD 1M upon clinical trial initiation.