Can-Fite Submits Protocol to U.S. FDA for Phase II Liver Cancer Study Tufts University will be a clinical site for international trial of CF102 with Orphan Drug Designation

Can-Fite Submits Protocol to U.S. FDA

for Phase II Liver Cancer Study

Tufts University will be a clinical

site for international trial of CF102 with Orphan Drug Designation

PETACH TIKVA, Israel, April 29, 2014 -- Can-Fite BioPharma Ltd.

(NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory

and cancer diseases, announced today that it has submitted a study protocol to the U.S. Food and Drug Administration for its Phase

II clinical trial of CF102 for the treatment of advanced liver cancer. The FDA has granted Orphan Drug designation to CF102 in

this indication. The protocol, which has already been approved by the Institutional Review Board (IRB) in Israel, will also be

The planned Phase II study will be conducted in Israel, Europe

and the U.S. with 78 subjects who will be dosed with CF102 as a second-line treatment of advanced hepatocellular carcinoma (HCC)

with Child-Pugh Class B cirrhosis. The study will investigate the efficacy and safety of CF102 as compared to placebo.

Dr. Keith Stuart, MD,

assisted in developing the study protocol. He is Chairman, Department of Hematology at Lahey Clinic and Oncology Professor of

Medicine, Tufts University School of Medicine, Tufts University will participate as the study's U.S. clinical site.

The protocol submission is supported by strong, positive data

from Can-Fite's Phase I/II HCC study published in The Oncologist, and presented

at the 18th World Congress on Advances in Oncology. The Phase I/II study data demonstrated that the trial objectives were successfully

achieved. CF102 had a very favorable safety profile with very encouraging median overall survival and one patient who has been

treated for 4 years with CF102. The A3 adenosine receptor (A3AR), which is the target of CF102, was also found to potentially

serve as a biomarker to predict patients' reaction to treatment with CF102.

"We are planning to initiate our Phase II trial for advanced

liver cancer during the current quarter. Having already received IRB approval in Israel, we look forward to the FDA's response

to the protocol. Advanced liver cancer is an indication that is a clear, unmet medical need and we believe the FDA's Orphan

Drug Designation for CF102 will support our clinical development path," stated Can-Fite CEO Dr. Pnina Fishman.

According to Global Industry Analysts,

the global liver cancer drug market is expected to exceed $2 billion by 2015.

CF102 is a small orally bioavailable drug which binds with high

affinity and selectivity to the A3 adenosine receptor. The latter is highly expressed in tumor cells whereas low expression is

found in normal cells. This differential effect accounts for the excellent safety profile of the drug. In our pre-clinical and

clinical studies, CF102 induces a robust anti-tumor effect via de-regulation of the Wnt signaling pathway, resulting in apoptosis

of liver cancer cells.

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE MKT: 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 and inflammatory diseases. The Company's CF101 is in Phase II/III trials for the treatment of

psoriasis and the Company is preparing for a Phase III CF101 trial for rheumatoid arthritis. Can-Fite's liver cancer drug

CF102 is in Phase II trials and has been granted Orphan Drug Designation by the U.S. Food and Drug Administration. CF102 has also

shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. These drugs have an excellent

safety profile with experience in over 1,200 patients in clinical studies to date. For more information please visit: www.can-fite.com.

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