Can-Fite BioPharma (CANF) Receives Notice of Allowance in Europe for Piclidenoson-Related Patent

September 13, 2016 7:05 AM EDT

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Can-Fite BioPharma Ltd. (NYSE: CANF) announced that it has received a Notice of Allowance from the European Patent Office indicating the patent titled, "Pharmaceutical Composition Comprising A3 Adenosine Receptor Agonist (IB-MECA/CF-101) for Treatment of Psoriasis" will be granted. This key patent addresses Can-Fite's lead drug candidate Piclidenoson (CF101), an Adenosine Receptor Agonist (A3AR), in the treatment of psoriasis.

Piclidenoson will be evaluated in an upcoming Phase III trial in Europe in which it will be compared to apremilast (Otezla®), a recently approved oral drug from Celgene. Can-Fite submitted its Phase III clinical trial protocol for Piclidenoson in the treatment of moderate-to-severe psoriasis to the European Medicines Agency (EMA) in the first half of 2016.

"This important psoriasis patent comes at an opportune time, as we are heading into a Phase III trial in Europe. A similar patent was granted to Can-Fite in the U.S. last year. We believe our robust global IP portfolio supports our market position, as we look ahead towards potential commercialization and out-licensing deals in our advanced stage indications," stated Can-Fite CEO Dr. Pnina Fishman.

An estimated 3.7 million Europeans have psoriasis, 2.4 million of whom are living with moderate to severe disease according to the European Federation of Pharmaceutical Industries and Associations. Globally, the psoriasis market which was estimated at $6.6 billion in 2014, is projected to double to over $13.3 billion by 2024, according to Global Data.

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