Full Press Release Details
CAN-FITE: FUND-RAISING IN ORDER TO
SATISFY QUALIFICATION REQUIRMENTS TO REGISTER ON THE NYSE MKT EXCHANGE
bank Roth Capital Partners Inc. serves as an advisor of the Company for the
purpose of the fund-raising
American institutional investors have
announced their intention to participate in the fund-raising
Petah Tikva, Israel, 23rd of
October, 2013 - Can Fite Biopharma Ltd. (TASE: CFBI; OTC: CANFY) (the "Company"), which deals in the field
of development and commercializing of advanced clinical stage drugs for the treatment of inflammatory and liver diseases, has announced
the publication of a Shelf Offering to raise funds for the Company, mainly for the purpose of increasing its equity capital in
order to comply with the necessary criteria's for the completion of the registration of the ADR's of the Company on the NYSE
MKT soon. The ADR registration on NYSE MKT is expected to become possible prior to the publication of the advanced clinical trial
results, which include the Phase IIb clinical trial with CF101 for the treatment of Rheumatoid Arthritis developed by the Company
and the Phase III clinical trial with CF101 for the treatment of Dry Eye Syndrome, developed by the subsidiary OphthaliX Inc. Both
clinical trial results are expected to be published in the last two weeks of December 2013.
The financial advisor of the Company for
the fund-raising is Roth Capital Partners LLC. ("Roth"). Roth has presented the Company to several American
institutional investors who have informed the Company of their intention to participate in the fund-raising in an estimated amount
"The fund raising will enable the
Company to comply with the necessary criteria's to register its AD's on the NYSE MKT, a main Stock Exchange in the US, prior
to the publication of the results of two extremely important clinical trials of the Company. By that, the Company believes, that
it could optimally prepared for exposing to American investors and potential partners the Company's products in the US and
the rest of the world", said Prof. Pnina Fishman, the CEO of the Company. "The participation of the American investors
in the fund-raising and the assistance in performing such fund-raising provided by Roth Capital proves the confidence they he with
the Company and its science, and we thank them for that".
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 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).
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.
1-866-976-IRTH (4784)