OphthaliX Announces Phase II Glaucoma Data

OphthaliX Announces Phase II Glaucoma Data

PETACH TIKVA, Israel, July 5, 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 that its subsidiary, OphthaliX (OTC:OPLI)

released top-line results from its Phase II clinical trial of CF101 for the treatment of glaucoma. In this trial, no statistically

significant differences were found between the CF101 treated group and the placebo group in the primary endpoint of lowering intra

ocular pressure (IOP). High IOP is a characteristic of glaucoma. CF101 was found to have a favorable safety profile and was well

The randomized, double-masked, placebo-controlled,

parallel-group Phase II clinical trial was designed to evaluate the safety and efficacy of CF101 when administered orally

twice daily for up to 16 weeks in patients with elevated IOP. A total of 89 patients were enrolled in the study. The study was

conducted with two cohorts. In the first cohort, treatment was randomized in a 3:1 ratio of 1.0

mg CF101 to placebo. In the second cohort, which was also randomized in a 3:1 CF101 to placebo ratio, the CF101 dose was

increased to 2.0 mg.

"We are disappointed that CF101 failed to meet its primary

endpoint, and based on these overall results we see no immediate path forward in glaucoma," said Pnina Fishman, PhD, CEO

of Can Fite BioPharma.

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. CF101 is currently under development for the treatment of autoimmune inflammatory diseases including rheumatoid arthritis

(completed Phase II) and psoriasis (completed Phase II/III).

About OphthaliX Inc.

OphthaliX Inc. is a clinical-stage biopharmaceutical

company focused on developing therapeutic products for the treatment of ophthalmic disorders.

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, 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.

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