SOURCE: Can-Fite BioPharma
October 10, 2013 07:00 ET
Phase II Trial to Commence Under FDA Orphan Drug Designation
PETACH TIKVA, ISRAEL--(Marketwired - Oct 10, 2013) - Can-Fite BioPharma Ltd. (TASE: CFBI), (OTCQB: CANFY), a biotechnology company developing a pipeline of small molecule drugs that address inflammatory and cancer diseases, announced today that the Company will be presenting its cancer drug, CF102, at the 18th World Congress on Advances in Oncology and the 16th International Symposium on Molecular Medicine, which is taking place in Crete, Greece on October 10th through 12th 2013. Can-Fite's CEO Dr. Pnina Fishman will be presenting on Friday, October 11 at 12:00 pm. The event is hosted by Spandidos Publications, a leading publishing group in the biomedical sciences field, and will focus on developing technologies for the treatment of cancer.
Can-Fite's CF102 is currently in Phase II clinical trials for primary liver cancer (hepatocellular carcinoma) in the U.S., Europe, and Israel. The United States Food and Drug Administration (FDA) granted CF102 Orphan Drug Designation. The Company is currently preparing for a 130 patient Phase II study in the treatment of advanced liver cancer in subjects with Child-Pugh B. According to Global Industry Analysts (GIA), the global liver cancer drug market is expected to exceed $2 billion by 2015. GIA further reports that liver cancer represents the fifth most commonly occurring cancer and the third leading cause of deaths related to cancer in the world.
"At the conference, I will share information about how CF102 targets the A3AR receptor, a highly specific target that binds with and destroys cancer cells, while leaving healthy cells unharmed. This creates potent and broad anti-cancer effects. I will also explain the drug's mechanism of action and share data from our Phase I/II clinical study," stated Can-Fite's CEO, Dr. Pnina Fishman. "Along with the rest of the presenters and participants at the 18th World Congress on Advances in Oncology, we are working hard to advance the science of cancer treatment."
About Spandidos Publications
Spandidos Publications Ltd. was founded in 1992 and has developed into a leading publishing group in the biomedical sciences field. They currently publish eight journals: International Journal of Molecular Medicine, International Journal of Oncology, Molecular Medicine Reports, Oncology Reports, Experimental and Therapeutic Medicine, Oncology Letters, Biomedical Reports and Molecular and Clinical Oncology.
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 (the "TASE") (TASE: CFBI). Level II American Depository Receipts of the company are traded on the U.S. Over-the-Counter Markets (the "OTC Markets") (OTCQB: CANFY). Can-Fite, which commenced business activity in 2000, was founded by Pnina Fishman, Ph.D., researcher in the Rabin Medical Center, and by Ilan Cohn Ph.D., patent attorney and senior partner at Reinhold Cohn Patent Attorneys in Israel. Dr. Fishman serves as the Chief Executive Officer of Can-Fite. Dr. Fishman founded Can-Fite on the basis of her scientific findings, and Can-Fite is focused on the development of small molecule orally bioavailable drugs, in particular, ligands that bind to the A3 adenosine receptor. Such drugs mediate anti-inflammatory and anti-cancer effects and are suggested as a biological predictive marker. Can-Fite's lead drug candidate, CF101, is in clinical development for the treatment of autoimmune inflammatory diseases. Can-Fite's CF102 drug candidate is being developed for the treatment of liver diseases and its CF602 drug is being developed for the treatment of inflammation and sexual dysfunction. To date, more than 700 patients have participated in clinical trials conducted by Can-Fite. Can-Fite previously licensed its activity in the ophthalmic field to OphthaliX Inc., in which it holds a controlling interest and which is currently listed on the OTC Markets (OTCQB: OPLI).
Safe Harbor Statement
This press-release contains forward-looking statements, about Can-Fite's expectations, beliefs or intentions regarding, among other things, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Can-Fite or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Can-Fite with the U.S. Securities and Exchange Commission (the "SEC"), press releases or oral statements made by or with the approval of one of Can-Fite's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Can-Fite's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Can-Fite's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements, including, but not limited to, the factors summarized in Can-Fite's filings with the SEC and in its periodic filings with the TASE.
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