PETACH TIKVA, ISRAEL -- (Marketwired) -- 10/15/13 --
Can-Fite BioPharma Ltd. (TASE: CFBI), (OTCQB: CANFY), a biotechnology company developing a pipeline of small molecule drugs that address inflammatory and cancer diseases, announced today that Can-Fite's CF101 was selected as one of the "Top Autoimmune/Anti-Inflammatory Disease Projects to Watch" by Elsevier Business Intelligence, the publisher of In Vivo and The Pink Sheet, and a global leader in the field of healthcare industry information.
"Selected companies have been screened using a strict set of judging criteria for the Top 10 award and represent what our committees consider among the most attractive opportunities the industry has to offer," said David Cassak, Vice President, Content, Elsevier Business Intelligence. "Winners have met rigorous criteria, including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities (biotech and pharma), potential for new opportunities beyond initial indications and corporate stability. As the industry leader in strategic analysis and transaction tracking, our main goal is to give these companies exposure to potential investors, partners, and acquirers."
Many companies selected by Elsevier in previous years have gone on to establish major partnerships with big-pharma. Can-Fite currently has licensing agreements in place for CF101 for anti-inflammatory indications with Seikagaku Corporation in Japan and with Kwang Dong Pharmaceutical Co. Ltd in South Korea.
CF101's anti-inflammatory indications include psoriasis, for which the Company is now conducting Phase III trials in the U.S., Europe and Israel. The global market for treating psoriasis was $3.3 billion in 2010 and is projected to reach $6.7 billion by 2018, according to Global Data. Phase II trials are also being conducted for CF101 in the treatment of rheumatoid arthritis in the U.S., Europe and Israel, with results expected to be announced during the fourth quarter of 2013. Global Data estimates that the global market for rheumatoid arthritis therapeutics was $12 billion in 2010 and is projected to reach $18 billion by 2020.
Can-Fite's CF101 is an oral small molecule drug formulated as a tablet. The activity of CF101 as an anti-inflammatory agent has been tested in a number of different experimental models including adjuvant and collagen induced arthritis and inflammatory bowel disease. In all models tested, CF101 induced a robust anti-inflammatory effect measured by clinical and histological disease scores. CF101 has an excellent human safety profile, as demonstrated in more than 800 patients.