Can-Fite BioPharma Completes Two Phase I Trials of its Lead Anti-Cancer and Anti-Inflammatory Drug CF101; Company to Commence Two Phase II Trials in Q2 2003.Business Editors/High-Tech Writers BIOWIRE2K TEL AVIV, Israel--(BUSINESS WIRE)--April 10, 2003 Can-Fite BioPharma, Ltd. (www.canfite.com), developer of innovative treatments for cancer and inflammatory diseases, announced today the successful completion of two Phase I clinical trials of its lead drug, CF101. In both Phase I trials, CF101 was shown to be safe at therapeutic doses and to have high oral bioavailability bioavailability /bio·avail·a·bil·i·ty/ (bi?o-ah-val?ah-bil´i-te) the degree to which a drug or other substance becomes available to the target tissue after administration. bi·o·a·vail·a·bil·i·ty n. . These placebo-controlled trials took place in the UK and comprised a total of 53 healthy subjects who were treated with either single or multiple doses of CF101. Can-Fite also announced today its plans to begin two separate multi-center Phase II clinical trials in the second quarter of 2003. Patients with colorectal cancer colorectal cancer Malignant tumour of the large intestine (colon) or rectum. Risk factors include age (after age 50), family history of colorectal cancer, chronic inflammatory bowel diseases, benign polyps, physical inactivity, and a diet high in fat. and rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. will be enrolled in these respective trials. Annually, more than 940 thousand people worldwide are diagnosed with colorectal cancer, and nearly 500 thousand patients die from it. In the U.S. alone, approximately 140 thousand new cases and more than 60 thousand deaths from this type of cancer are recorded each year. Rheumatoid arthritis, the most crippling form of arthritis, affects approximately 2.1 million people in the U.S. The overall economic cost of this disease is estimated to be more than 1% of U.S. GDP GDP (guanosine diphosphate): see guanine. . "CF101 clearly fills an unmet clinical need. It is a small molecule, orally available drug (administered in the form of a capsule) with highly specific anti-cancer and anti-inflammatory activity. In addition, CF101 and other of Can-Fite's drugs in development are devoid of the toxic side effects, generally caused by most anti-cancer and disease modifying anti-rheumatic drugs Disease Modifying Anti-Rheumatic Drugs (DMARDs) A class of antirheumatic drugs, including chloroquine, methotrexate, cyclosporine, and gold compounds, that influence the disease process itself and do not only treat its symptoms. Mentioned in: Antirheumatic Drugs on the market today," said Can-Fite BioPharma President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dr. Ilan Cohn. The market potential for CF101 is estimated at more than US$ 1 billion worldwide. The first commercial product is expected in 2006. "Can-Fite's development speed is almost unprecedented in the pharmaceutical industry. In just two short years, the company has advanced from its initial research stages, through full-fledged pre-clinical development, the successful completion of two Phase I trials and the preliminary stages of two Phase II trials. We plan to continue with the same determination as we begin the next stages of the development process," said Dr. Cohn. About Can-Fite BioPharma, Ltd. Can-Fite BioPharma Ltd. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Petach Tikva, Israel that began operations in year 2000. The Company was founded on the basis of the scientific work of Prof. Pnina Fishman, a Tumor Immunologist from the Rabin Medical Center The Rabin Medical Center is a medical center in Petah Tikva, Israel. It is currently the second largest medical center in Israel after Sheba Medical Center, having lost the title of largest in 2006. in Israel, who currently serves as the Company's Chief Scientific Officer. Can-Fite's research is conducted in its research lab in Israel. The Company also has a US-based senior management team that is involved in the company's pre-clinical and clinical development. Can-Fite is currently preparing for Phase II trials of its lead drug CF101 for the treatment of cancer and rheumatoid arthritis. Scientific and clinical collaborators include the US National Institute of Health (NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. ), Fox Chase Cancer Center The Fox Chase Cancer Center is a medical research facility and hospital located in the northeast section of Philadelphia, Pennsylvania, United States. The Center is an independent, non-profit institution which specializes in the treatment and prevention of cancer. , Dana Farber Cancer Center, Arizona Cancer Center, the Technion, the Hebrew University, Leiden University and Temple University. Investors include Giza Venture Capital, The Yozma Group, Ascend Technology Ventures, Vitaife and Biocom Venture Capital Fund. |
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