Can-Fite Receives Notification of Patent Grant from European Patent Office for Namodenoson in the Treatment of NASH
August 25 2020 - 8:09AM
Business Wire
- Marks Can-Fite’s 3rd major patent for treatment of
NASH; patents have also been received in the U.S. and
Korea
- Recently completed Phase II study in NAFLD/NASH achieved
primary and secondary endpoints
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, today announced that the European Patent Office has
notified the Company of its intent to grant a patent for the
invention titled “An A3 Adenosine Receptor For Use In Treating
Ectopic Fat Acculturation”. Patent claims include use of the A3
adenosine receptor (A3AR), the target of Can-Fite’s platform
technology, in reducing ectopic fat accumulation particularly in
fatty liver as manifested in non-alcoholic fatty liver disease
(NAFLD) and non-alcoholic steatohepatitis (NASH).
“This important patent in Europe comes as Namodenoson exhibited
a strong safety profile and met its efficacy endpoints in the
treatment of NAFLD and NASH in our recently completed Phase II
study. Our global IP portfolio addressing NAFLD/NASH is critical as
we engage in talks with potential distribution partners,” stated
Can-Fite CEO Dr. Pnina Fishman. “NAFLD and NASH have a very heavy
disease burden in Europe, where epidemiology studies estimate the
prevalence among the general population of NAFLD at between 29-37%,
with 16-45% of those biopsy confirmed as NASH.”
Can-Fite has received patents for Namodenoson in the treatment
of NAFLD/NASH in the U.S. and Korea, and the Company has licensing
and distribution agreements for Namodenoson in this indication in
China and Korea. There is currently no U.S. FDA approved drug for
the treatment of NASH, which is an addressable pharmaceutical
market estimated to reach $35-40 billion by 2025.
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, inflammatory disease and
COVID-19. The Company's lead drug candidate, Piclidenoson, is
currently in Phase III trials for rheumatoid arthritis and
psoriasis. Can-Fite's liver drug, Namodenoson, is headed into a
Phase III trial for hepatocellular carcinoma (HCC), the most common
form of liver cancer, and successfully achieved its primary
endpoint in a Phase II trial 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. 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200825005556/en/
Can-Fite BioPharma Motti Farbstein info@canfite.com
+972-3-9241114
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