Can-Fite Receives Israel Ministry of Health Approval to Conduct Research with Cannabinoids in Cancer, Inflammation & Obesity ...
December 15 2020 - 7:00AM
Business Wire
- State-of-the-art in
house labs leveraged for cost and time efficient development of
high-value cannabinoid assets
- Cannabinoids bind to
A3 adenosine receptor (A3AR), which is over-expressed in
pathological cells and is the target of Can-Fite’s technology
platform
- Company has patent
pending for cannabinoids in the treatment of diseases through its
A3 adenosine receptor (A3AR) technology platform
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 it has received approval from the Medical
Cannabis Unit of Israel’s Ministry of Health to conduct
pre-clinical studies on the effect of nanomolar concentrations of
cannabinoid fractions on the proliferation and functionality of
cancer, inflammatory and adipocyte cells (fat cells).
This regulatory approval clears Can-Fite to advance its
cannabinoid program by evaluating the effect of cannabis fractions
at nanomolar concentrations binding with the A3 adenosine receptor
(A3AR), the target of the Company’s technology, in a broad range of
diseases including cancer, inflammatory diseases, and metabolic
diseases associated with fat accumulation. Can-Fite’s recent
findings show that cannabinoids can be clinically effective at
minute concentrations, thereby potentially delivering efficacy
without the adverse effect seen to occur with high cannabinoid
concentrations as evidenced in the scientific literature. Prior
pre-clinical studies jointly conducted by Can-Fite and Univo
Pharmaceuticals demonstrate cannabinoid fractions inhibited liver
cancer cell proliferation via A3AR.
“We are excited to embark on research to advance our
cannabinoids program, which leverages our current IP platform,
technology, and discovery lab assets to cost-and-time-efficiently
generate findings in one of the fastest growing and promising areas
in the pharmaceutical space. As a world leader in A3AR, Can-Fite is
ideally positioned to identify and develop cannabinoids at
nanomolar concentrations to treat diseases effectively and safely,”
stated Can-Fite CEO Dr. Pnina Fishman.
Can-Fite will conduct the research in its own state-of-the-art
discovery labs where it recently developed patent-pending
cannabinoid-based formulations and an in vitro biological assay to
identify clinically active cannabis derived compounds. The
Company’s recently filed patent application covers the use of
cannabinoids in treating A3AR associated conditions including
cancer, autoimmune, inflammatory, and metabolic diseases.
Can-Fite’s biological cell-based assay will be utilized in the
development of pharmaceuticals that use a specific cannabis derived
compound to treat a variety of diseases. In addition to benefitting
from its assay in the development of its own cannabis derived
compound-based therapeutics, Can-Fite plans to market the assay on
a ‘fee for service’ basis to researchers and other cannabis
companies worldwide.
According to Adroit Market Research, the medical cannabis market
is projected to grow at a CAGR of 29% to $56.7 billion by 2026.
Can-Fite has a strategic partnership with Univo Pharmaceuticals,
a medical cannabis company.
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 a Phase III trial for psoriasis and a Phase II study
in the treatment of moderate COVID-19. 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20201215005550/en/
Can-Fite BioPharma Motti Farbstein info@canfite.com
+972-3-9241114
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