Israel-Medical-Healthcare

[midastouch017]

Can-Fite reports dry-eye study success
Can-Fite's share jumped 38% in early trading.

Globes' correspondent17 May 09 11:19

Can-Fite BioPharma Ltd. (TASE:CFBI) today announced successful results for its Phase II clinical trial of its drug, CF101, for dry-eye syndrome (keratoconjunctivitis sicca). CF101 was found to be safe and effective as a single treatment, and the company will apply to the US Food and Drug Administration (FDA) to decide whether the company will proceed to a Phase 11b clinical trial, or move directly to a Phase III trial.

Can-Fite's share jumped 38% in early trading to NIS 1.24.

The 12-week trial included 80 patients at six medical centers in Israel. The patients showed significant improvement by the end of the trial, achieving the trial's primary goal.

Dry-eye syndrome is a chronic problem that affects more than 30 million people in the US alone, and there is no current effective treatment. Can-Fite estimates the market for a treatment at $1 billion a year.

Two weeks ago, Can-Fite reported that the Phase IIb clinical trial for CF101 for the treatment of rheumatoid arthritis failed to achieve the test targets.

Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2009