Can-Fite BioPharma (NYSE American: CANF), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, has been granted patents in Canada, South Korea, and Israel for its patent titled, "A3 adenosine receptor ligands for use in treatment of a sexual dysfunction" for its drug candidate CF602. Patents were also issued in the U.S., Australia, China, Hong Kong, and Japan over the past few years.
Why It Matters: Grand View Research Inc. estimates the value of the erectile dysfunction therapeutic market will reach approximately $3.2 billion by 2022. According to the American Diabetes Association, approximately 30 million Americans have diabetes mellitus in the U.S. It is estimated that 35-75% of men with diabetes mellitus suffer from erectile dysfunction.
Key Quote: “CF602 has a unique mechanism of action that makes it suitable to potentially treat sexual dysfunction safely in patients with diabetes mellitus. This is a clear and unmet need in the market today, as the leading sexual dysfunction drugs can be contraindicated for diabetics. We are now actively looking for and evaluating potential strategic partners that may in-license and develop CF602 in this indication.” – Dr. Pnina Fishman, CEO
The Backstory: CANF’s lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. CANF’s liver cancer drug, Namodenoson, recently completed a Phase II trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and is 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 in preclinical studies and the Company is investigating additional compounds, targeting A3AR, for the treatment of sexual dysfunction. These drugs have an excellent safety profile with experience in over 1,000 patients in clinical studies to date.
Can-Fite Biopharma (CANF) is a client of RedChip Companies, Inc. CANF agreed to pay RedChip Companies, Inc. a cash fee of $5,000 monthly, beginning in August 2019, and 16,500 shares of CANF Rule 144 stock for 6 months of RedChip investor awareness services and consulting services.
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