Can-Fite Submits Psoriasis Phase III Protocol and Registration Plan to EMA for Piclidenoson (CF101) - Phase III protocol is a head-to-head trial comparing Piclidenoson to Otezla - Former Phase II/III study showed Piclide

Submits Psoriasis Phase III Protocol and Registration Plan to EMA for Piclidenoson (CF101)

TIKVA, Israel, June 07, 2016 -- Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline

of proprietary small molecule drugs being developed to treat inflammatory diseases, cancer and sexual dysfunction, today announced

it has submitted its protocol design to the European Medicines Agency (EMA) for a Phase III trial and Registration Plan for the

Company's lead compound Piclidenoson (CF101) in the treatment of psoriasis. This follows a pre-submission meeting the Company

planned Phase III trial is a randomized, double-blind, placebo- and active-controlled study that will investigate the efficacy

and safety of daily Piclidenoson administered orally compared to apremilast (Otezla ) in approximately 370 patients with moderate-to-severe

plaque psoriasis. The study is designed to have four arms, Piclidenoson 2 mg, 3 mg, matching apremilast 30 mg, or matching placebo

in a 3:3:3:2 ratio. Medication will be taken orally twice daily for 32 weeks in a double-blinded fashion. The primary end point

will be the proportion of subjects who achieve a Psoriasis Area and Severity Index (PASI) score response of 75% (PASI 75)

from Can-Fite's former Phase II/III study showed that at weeks 24 and 32, Piclidenoson's efficacy as measured by PASI

compares well to Otezla , the recently registered oral drug, marketed by Celgene. The global psoriasis market is estimated

to reach $9 billion by 2018 (Visiongain), and Otezla sales are estimated to be $2.35 billion by 2020 (DrugAnalyst).

of this Phase III protocol design to the EMA marks the next step in our plan to provide patients with a new safe oral treatment

for psoriasis. We plan to conduct the Phase III study globally," stated Can-Fite CEO, Dr. Pnina Fishman.

Piclidenoson (CF101)

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 including rheumatoid arthritis (completed Phase II) and psoriasis (completed Phase II/III).

Can-Fite BioPharma Ltd.

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, inflammatory disease and sexual dysfunction.

The Company's lead drug candidate, Piclidenoson, is scheduled to enter Phase III trials in 2016 for two indications, rheumatoid

arthritis and psoriasis. The rheumatoid arthritis Phase III protocol has recently been agreed with EMA. Can-Fite's liver cancer

drug CF102 is in Phase II trials for patients with liver cancer and is slated to enter Phase II for the treatment of non-alcoholic

steatohepatitis (NASH). CF102 has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a

second line treatment for hepatocellular carcinoma 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. CF602, the Company's third drug candidate, has

shown efficacy in the treatment of erectile dysfunction in preclinical studies and is being prepared for an IND submission to

the FDA and a Phase I trial. 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.

press release may contain 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, 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. In addition, Can-Fite operates in an industry sector

where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Can-Fite does

not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future

events or otherwise.