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Can-Fite Proceeds with Development of Third Drug; Progress in,Development of CF502 Will Be Presented at the Annual European,Congress of Rheumatology

Elucidation of CF502 mechanism of action and the ability to examine this activity in human cells improve the chances that this drug can offer effective treatment for patients."

CF502, which is being developed by Can-Fite, became part of the development pipeline after Can-Fite had signed a prestigious agreement with the NIH, the leading research institute in the US. Under this agreement, titled CRADA, Can-Fite now cooperates with the laboratory of Prof. Jacobson, a worldwide leading scientist in the field of A3 adenosine receptor agonists and antagonists. Can-Fite is currently in negotiations with the NIH for the licensing of the CF502 molecule.

In addition to CF502, Can-Fite's development pipeline also includes two other drugs, CF101 which is being evaluated for rheumatoid arthritis, dry eye syndrome and psoriasis in phase I clinical trials, and CF102 which is intended for the treatment of liver cancer and hepatitis B. The Company's first commercial agreement was signed with the Japanese Seikagaku Corporation during development of CF101, under the terms of which Can-Fite has already received about USD 5 million.

CAN-FITE BIOPHARMA LTD is a public company traded on the Tel Aviv Stock Exchange. The Company, which commenced business activity in 2000, was founded by researcher Prof. Pnina Fishman and patent attorney Dr. Ilan Cohn. The Company focuses on the development of molecule-based drugs that inhibit the development of cancer or inflammatory cells. The market for the company's drugs is estimated at billions of dollars.

Contact

Can-Fite BioPharma
Pnina Fishman, Ph.D., +972-3-9241114
Chief Executive Officer
Fax: +972-3-9249378
pnina@canfite.co.il
http://www.canfite.com/


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