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Can-Fite Granted Patent on the Manufacturing of CF101 in Japan

Tuesday 25 February 2014

PETACH TIKVA, Israel, Feb. 25, 2014 /PRNewswire/ -- Can-Fite BioPharma Ltd. (TASE: CFBI), (NYSE MKT: CANF), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory and cancer diseases, announced today that the Japan Patent Office (JPO) has granted a Japanese patent which bears the Patent No. 5467872 and is titled "Process for the Synthesis of IB-MECA". This patent describes a method for the chemical synthesis of the A3 adenosine receptor agonist, IB-MECA, which is the active pharmaceuticals ingredient (API) of the CF101 drug candidate. Under its patent rights, Can-Fite will have exclusive rights for the manufacturing of CF101 in Japan till 2028.

This patent has added significance for the company in light of the exclusive Japanese license agreement that Can-Fite has already entered into with Seikagaku Corporation (SKK). Under the agreement, Can-Fite granted a license to SKK to develop and commercialize CF101 for autoimmune inflammatory indications in Japan. The terms included up to $20 M in upfront and milestone payments plus up to 12% royalties. Such payments are subject to development and marketing milestones. To date $7.5M has been already received.

Dr. Ilan Cohn, Can-Fite Chairman and Senior Partner at the Reinhold Cohn Patent firm, said today that, "This current patent on the manufacturing of CF101 in Japan is a substantial addition to Can-Fite's Japanese patent portfolio and bolsters the deal with SKK. Can-Fite estimates that this patent, and the previously issued patents related to the utilization of CF101 for the treatment of inflammatory diseases, will set an extremely high barrier to entry for any potential competitors in Japan and will secure Can-Fite's dominant position in its field."