Can-Fite to Explore the anti-Coronavirus Effects of Piclidenoson in Collaboration with Lewis Katz School of Medicine at Temple University Can-Fite to Support Research Directed by Kamel Khalili, Ph.D. on Piclidenoson agai

Can-Fite to Explore the anti-Coronavirus

Effects of Piclidenoson in Collaboration

with Lewis Katz School of Medicine at Temple University

Can-Fite to Support Research Directed

by Kamel Khalili, Ph.D. on Piclidenoson against Coronaviruses

PETACH TIKVA, Israel, March 13, 2020

-- 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, is entering into a collaborative research agreement with the

Lewis Katz School of Medicine at Temple University, Philadelphia, USA. The agreement will support research directed by Dr. Kamel

Khalili, aimed to explore anti-viral activity of Piclidenoson on Coronaviruses viral load in a mammalian cell model system as a

"We are privileged to work with Dr.

Khalili, a Key Opinion Leader in the arena of neurosciences and virology, to further study and advance our understanding of the

effect of Piclidenoson on the coronaviruses replication and molecular mechanism involved," said Pnina Fishman, Ph.D., Founder

and Chief Executive Officer of Can-Fite. "This work aims to provide a more solid foundation for our ongoing efforts to understand

the potential of Piclidenoson in these therapeutic areas."

In some patients, coronaviruses create

uncontrolled immune response and rheumatoid arthritis drugs may be used for treatment. Recently, China has approved the use of

Roche's Actemra, approved by U.S. FDA to treat rheumatoid arthritis, to treat coronavirus patients with serious lung damage.

Moreover, Gilead is conducting a clinical study in China combining its rheumatoid arthritis drug chloroquine with its anti-viral

candidate in the treatment of coronavirus. Can Fite's drug Piclidenoson is currently in Phase III study for the treatment

of patients with rheumatoid arthritis and on top of it has been shown to possess anti-viral effects against 2 single stranded RNA

viruses HIV and HCC. The Coronaviruses are also single stranded RNA viruses. Can-Fites's Piclidenoson's anti-viral

effect is protected by U.S. patent US7589075

Piclidenoson 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, to replace methotrexate, in the treatment of rheumatoid arthritis

and a Phase III study in the treatment of moderate-to-severe psoriasis.

About Can-Fite BioPharma Ltd.

Can-Fite 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 a Phase III trials for rheumatoid arthritis and psoriasis. 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.

Forward-Looking Statements

This press release may contain forward-looking

statements, about Can-Fite's expectations, beliefs or intentions regarding, among other things, market risks and uncertainties,

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

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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. Factors that could cause our actual results to

differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the initiation,

timing, progress and results of our preclinical studies, clinical trials and other product candidate development efforts; our ability

to advance our product candidates into clinical trials or to successfully complete our preclinical studies or clinical trials;

our receipt of regulatory approvals for our product candidates, and the timing of other regulatory filings and approvals; the clinical

development, commercialization and market acceptance of our product candidates; our ability to establish and maintain corporate

collaborations; the implementation of our business model and strategic plans for our business and product candidates; the scope

of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our ability

to operate our business without infringing the intellectual property rights of others; estimates of our expenses, future revenues,

capital requirements and our needs for additional financing; competitive companies, technologies and our industry; statements as

to the impact of the political and security situation in Israel on our business; and risks and other risk factors detailed 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.