PETACH TIKVA, Israel--(BUSINESS WIRE)--Can-Fite BioPharma (TASE:CFBI), a biopharmaceutical company, announced today the signing of a memorandum of understanding (MOU), with the Hong Kong based Morningside Asia Venture (HK) Limited. According to this MOU, Can-Fite and Morningside will establish a JV, which will receive an exclusive license to the Intellectual Property relating to CF102 in China, Hong Kong, Macau and Taiwan, and will be responsible for the clinical development of CF102 for these markets. The Morningside fund will provide all the required funding needed for the pre-clinical and clinical development plans up to the completion of phase II, in the amount of 7.5 million US dollars.
