Can-Fite: Reports Progress in the Development of Piclidenoson for Osteoarthritis in Pets Through its Partner Vetbiolix
August 17 2022 - 7:25AM
Business Wire
- Safety study successfully completed; efficacy trial to
commence and financially covered by Vetbiolix
- Canine osteoarthritis market is projected to reach $3
billion by 2028
Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI), a
biotechnology company advancing a pipeline of proprietary small
molecule drugs that address inflammatory, cancer and liver
diseases, announced today that through a development and
commercialization agreement signed with Vetbiolix in June of 2021,
Piclidenoson is set to enter a clinical trial for the treatment of
osteoarthritis in dogs. The canine osteoarthritis market is
projected to reach $3 billion by 2028.
Vetbiolix, a France-based veterinary biotech company, which has
the exclusive right to Piclidenoson in the veterinary
osteoarthritis market for companion animals including cats and dogs
for two years, recently completed an initial study in dogs to
explore dose-range safety and pharmacokinetics. Piclidenoson was
well tolerated, with the pharmacokinetic data proportional to dose.
Based on these data, Vetbiolix is moving forward with clinical
safety and efficacy studies in dogs with osteoarthritis.
If the study yields positive data and Vetbiolix exercises its
option to obtain the license from Can-Fite, then Vetbiolix will be
obligated to pay Can-Fite upfront and milestone payments, in
addition to royalties on sales upon regulatory approval.
Current treatments for canine osteoarthritis include oral
non-steroidal anti-inflammatory drugs (NSAIDs) which only treat
symptoms and carry significant harmful side effects and an
injectable disease-modifying osteoarthritis drug (DMOAD) that
targets the progression of the disease.
“We have had a highly productive collaboration with Vetbiolix
and are very pleased that they are moving Piclidenoson forward into
clinical efficacy studies in dogs with osteoarthritis,” stated
Can-Fite CEO Dr. Fishman. “We are hopeful that Piclidenoson, with
its excellent safety and efficacy profile in human auto-immune
disease, will also provide an effective treatment for canines with
osteoarthritis resulting in greater quality of life for dogs and
their human families.”
About Piclidenoson
Piclidenoson is a novel, first-in-class, A3 adenosine receptor
agonist (A3AR) small molecule, orally bioavailable drug with an
excellent safety profile demonstrating evidence of efficacy in
Phase II clinical studies. The drug’s mechanism of action entails
inhibition of the inflammatory cytokines interleukin 17 and 23
(IL-17 and IL-23) and the induction of apoptosis of patients’ skin
cell keratinocytes involved with the disease pathogenicity.
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, liver, and inflammatory disease. The
Company's lead drug candidate, Piclidenoson recently reported
topline results in a Phase III trial for psoriasis. Can-Fite's
liver drug, Namodenoson, is being evaluated in a Phase IIb trial
for the treatment of non-alcoholic steatohepatitis (NASH), and
enrollment is expected to commence in a Phase III trial for
hepatocellular carcinoma (HCC), the most common form of liver
cancer. 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. These drugs have an excellent safety
profile with experience in over 1,500 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 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. 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: our history of losses
and needs for additional capital to fund our operations and our
inability to obtain additional capital on acceptable terms, or at
all; uncertainties of cash flows and inability to meet working
capital needs; the impact of the COVID-19 pandemic; 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 strategic
partnerships and other 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;
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220817005358/en/
Can-Fite BioPharma Motti Farbstein info@canfite.com
+972-3-9241114
Can Fite BioPharma (AMEX:CANF)
Historical Stock Chart
From Mar 2024 to Apr 2024
Can Fite BioPharma (AMEX:CANF)
Historical Stock Chart
From Apr 2023 to Apr 2024