and Gebro Pharma holding European Conference on Development & Commercialization of Phase III Drug Candidate Piclidenoson

and Gebro Pharma holding European Conference on Development & Commercialization of Phase III Drug Candidate Piclidenoson

in the Treatment of Rheumatoid Arthritis

TIKVA, Israel, October 17, 2019 -- Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline

of proprietary small molecule drugs that address cancer, liver and inflammatory diseases and Gebro Pharma, a European mid-size

Pharmaceutical company announced today it is holding an International Advisory Board conference with a panel of eleven

Key Opinion Leaders in rheumatoid arthritis from Austria, Switzerland, and Spain focused on Piclidenoson.

Pharma has licensed the distribution rights to Piclidenoson for the indications of rheumatoid arthritis and psoriasis in

Austria, Switzerland, and Spain. The purpose of the meeting, which is taking place in Fieberbrunn, Austria, Gebro

Headquarters, on October 17-18, 2019, is to conduct a scientific review of Piclidenoson, the role of the Adenosidne receptor

A3 and mechanism of action of the molecule and aspects related to patient populations. Can-Fite's CEO Dr. Pnina

Fishman, Medical Director Dr. Michael Silverman, and VP Business Development Dr. Sari Fishman are delivering presentations at

the conference together with the participation of European Key Opinion Leaders in rheumatoid arthritis, Dr. Burkhard Leeb

and Dr. Sander W. Tas.

is currently enrolling 500 patients in Europe, Canada, and Israel in a Phase III study of Piclidenoson as a first-line treatment

for rheumatoid arthritis. The study will evaluate Piclidenoson as compared to placebo, and compared to methotrexate, the current

standard of care for first-line treatment of rheumatoid arthritis.

highly productive forum with our distribution partner Gebro is an opportunity for us to engage directly with their network of

doctors in Europe regarding how Piclidenoson may meet an unmet need for patients who seek a safe and effective treatment for newly

diagnosed rheumatoid arthritis," stated Can-Fite CEO Dr. Pnina Fishman.

considers Piclidenoson as an important milestone to strengthen its competence in the treatment of RA and psoriasis and to provide

patients with an innovative concept of treatment for such diseases," stated Gebro Pharma CEO Dr. Christian Kollenz.

is a novel, first-in-class, A3 adenosine receptor agonist (A3AR) small molecule, orally bioavailable drug with a favorable therapeutic

index demonstrated in Phase II clinical studies. Piclidenoson is currently under development for the treatment of autoimmune inflammatory

diseases. It is being evaluated in a Phase III study as a first line treatment for rheumatoid arthritis and a Phase III study

in the treatment of moderate-to-severe psoriasis.

Can-Fite BioPharma Ltd.

BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology

that is designed to address multi-billion dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction.

The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Can-Fite's

liver cancer drug, Namodenoson, recently completed a Phase II trial for hepatocellular carcinoma (HCC), the most common form of

liver cancer, and is in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted

Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food

and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate,

and melanoma. CF602, the Company's third drug candidate, has shown efficacy in the treatment of erectile dysfunction in preclinical

studies and the Company is investigating additional compounds, targeting A3AR, for the treatment of sexual dysfunction. These

drugs have an excellent safety profile with experience in over 1,000 patients in clinical studies to date. For more information

please visit: www.can-fite.com.

Pharma is a privately-owned leading pharma group founded in Austria in the late 1940s, with over 500 employees and more than 70

years of experience in research, manufacturing and marketing of pharmaceutical specialties. Its headquarters are located in Fieberbrunn

(Austria), where Gebro is one of the main local players, with commercial operations also in Spain and Switzerland. With a total

turnover of 185M in 2018, Gebro is positioned as a leader in pain and rheumatology with a strong portfolio.

Gebro Pharma has also built a portfolio around urology, respiratory, dermatology, GI and CV depending on the territory.

press release may contain forward-looking statements, about Can-Fite's expectations, beliefs or intentions regarding, among

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more information please visit:

compliance with article 101.c) 16 of Law 29/2006, this press release can only be circulated to specialized media addressed to

authorized personnel for the prescription or dispensation of drugs.

GEBRO PHARMA S.A. will hold responsible anyone who acts contrary to our indications in terms of dissemination of information for

all the consequences and/or claims from third parties that may arise from the breach.