Can-Fite BioPharma Ltd. (TASE:CFBI) has signed a cooperation agreement with Temple University in Philadelphia to test the anti-viral action of the company’s drug CF102, developed to treat liver cancer, and which has been found to be effective against hepatitis B.
CF102 is chemically related to a group of anti-viral substances on the market. Can-Fite therefore decided to test the drug’s effectiveness for treating hepatitis B, and with Temple University will also test its effectiveness against hepatitis C.
Can-Fite says that the discovery opens a potential $3 billion market for CF102, and could speed up the development of the drug. CF102 is being development alongside CF101, a treatment for rheumatoid arthritis and dry-eye syndrome, which is undergoing Phase I clinical trials in the US and Europe.
Last month, Can-Fite announced that it completed the recruitment of 250 patients for Phase IIb clinical trials for CF101. This is a milestone stipulated in the company’s contract with Seikagaku Corporation (TSE:4548) of Japan, which has invested $4 million in the company. The investment could reach up to $19.5 million.
Published by Globes [online], Israel business news - www.globes.co.il - on February 18, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007