PETACH TIKVA, Israel, Nov. 13, 2012 /PRNewswire/ -- Can-Fite BioPharma (TASE: CFBI, OTC: CANFY), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, announced today that it designated the CF602 drug, which was licensed from the Leiden University, to be developed for the treatment of sexual dysfunction.
During clinical studies conducted with other drugs of the company, patients suffering from sexual dysfunction reported that they returned to normal function following the treatment with the company drugs. These findings are correlated with the company's platform technology, which is targeting the A3 adenosine receptor as a therapeutic target. Adenosine, like NO, is a potent and short-lived vasorelaxant that functions via cAMP signaling to promote smooth muscle relaxation. Recent studies show that adenosine functions to relax the corpus cavernosum and promote penile erection.
The company has filed a patent application for the treatment of sexual dysfunction utilizing the company drugs, and is planning to develop its 3rd pipeline drug, CF602 for this indication. CF602 is a novel A3 adenosine receptor allosteric modulator enhancing the affinity of the natural ligand adenosine to its A3 adenosine receptor. The company's scientific team believes that the unique characteristics of the company drugs including the CF602 drug make it an applicable drug to be developed for the treatment of sexual dysfunction.
The erectile dysfunction therapeutic market is estimated to be approximately $3 billion, and includes mainly the drugs Viagra, Cialis and Levitra.
About Can-Fite Biopharma Ltd.
Can-Fite Biopharma Ltd is an Israeli public company, the ordinary shares of which are traded on the Tel Aviv Stock Exchange (TASE: CFBI). American Depository Receipts of the company are traded on the over-the-counter market (OTC: CANFY). The company, which commenced business activity in 2000, was founded by Pnina Fishman, Ph.D., researcher in the Rabin Medical Center, and Ilan Cohn Ph.D., patent attorney and senior partner at Reinhold Cohn Patent Attorneys. Pnina Fishman serves as CEO of the company. The company was founded on the basis of Fishman's scientific findings, and is focused on the development of small molecule orally bioavailable drugs, ligands to the A3 adenosine receptor. The latter mediates anti-inflammatory and anti-cancer effects and is suggested as a biological predictive marker. The company's lead drug, CF101, is in clinical development for the treatment of autoimmune inflammatory diseases. The CF102 drug candidate is being developed for the treatment of liver diseases. Can-Fite has a wealth of clinical experience: to date, more than 700 patients have participated in clinical trials conducted by the company. Can-Fite previously licensed its activity in the ophthalmic field to OphthaliX Inc., in which it holds a controlling interest (OTC:OPLI).
KCSA Strategic Communications
Jeff Corbin / Phil Carlson
Safe Harbor Statement
Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Can-Fite's business can be found in its periodic filings with the Tel Aviv Stock Exchange.
SOURCE Can-Fite BioPharma