Full Press Release Details
Receives from Gebro Holdings $2,200,000 Payment as Part of Distribution Agreement for Piclidenoson in 3 European Countries
milestone payments of up to $7,000,000 and double digit royalty payments on net
sales upon the achievement of certain regulatory,
launch and sales milestones
signed Gebro distribution agreement adds to the two existing distribution agreements for Piclidenoson in Canada and Korea
TIKVA, Israel, January 25, 2018 -- Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company advancing
a pipeline of proprietary small molecule drugs that address cancer, liver and inflammatory diseases, today announced it has received
its first payment of approximately $2,200,000 from Gebro Holding GmBH. Can-Fite recently announced entering into a distribution
agreement with Gebro for the exclusive right to distribute to distribute Can-Fite's lead drug candidate, Piclidenoson (CF101),
for the treatment of rheumatoid arthritis and psoriasis in 3 European countries including Spain, Switzerland and Austria, upon
receipt of regulatory approvals. The recently signed Gebro distribution agreement adds to the distribution agreements for Piclidenoson
that the company already has in place with Cipher Pharmaceuticals (for the distribution of Piclidenoson in Canada for rheumatoid
arthritis and psoriasis) and Kwang Dong Pharmaceutical (for the distribution of Piclidenoson in Korea for rheumatoid arthritis).
the terms of the distribution agreement, Gebro is making a total upfront and milestone payment of approximately $2,200,000 to
Can-Fite. In addition, the agreement provides that additional payments of up to approximately $7,000,000 will be received by Can-Fite
upon the achievement of certain regulatory, launch and sales milestones plus double digit royalty payments on net sales.
Pharma is a privately-owned leading pharma group founded in Austria in the late 1940s with over 500 employees. Its headquarters
are located in Fieberbrunn (Austria), where Gebro is a top local leading player, with commercial operations in Spain and Switzerland.
In Spain, Gebro is ranked among the top growing companies within the Pharma sector. The therapeutic focus of Gebro is pain
with a strong franchise in rheumatology and in Spain, Gebro is ranked n 1 in rheumatology and pain. Alongside, rheumatology
and pain, Gebro has also built a portfolio around dermatology, urology, respiratory, GI, and CV depending on the territory.
are pleased to receive this upfront and milestone payment of $2,200,000 from Gebro and look towards future potential milestone
payments as we advance Piclidenoson through completion of our current Phase III trials in rheumatoid arthritis and psoriasis,"
stated Can-Fite CEO Dr. Pnina Fishman. Can-Fite recently initiated patient enrolment for its Phase III ACRobat trial of Piclidenoson
for the treatment of rheumatoid arthritis.
rheumatoid arthritis and psoriasis therapeutic market is dominated by biological drugs that are primarily administered via intravenous
injection (IV) and have potential side effects. Rheumatoid arthritis and psoriasis are huge unmet need markets, where rheumatoid
arthritis is estimated to reach $35B in 2020 and psoriasis is forecast to reach $9B in 2018.
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 multibillion-dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction.
The Company's lead drug candidate, Piclidenoson, is currently in a Phase III trial for rheumatoid arthritis and is expected
to enter a Phase III trial for psoriasis during 2018. Can-Fite's liver cancer drug, Namodenoson, is in Phase II trials for
hepatocellular carcinoma (HCC), the most common form of liver cancer, and 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.
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our product candidates; our ability to establish and maintain corporate collaborations; the implementation of our business model
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