Can-Fite BioPharma has achieved yet another goal by completion of enrolment of 230 patients in its confirmatory phase-IIb RA trial. Approximately 230 patients were enrolled to this study, randomized into three groups treated with 0.1 mg and 4 mg of CF101, and placebo. Patients are taking the drug for 12 weeks plus two weeks of follow-up. The trial is being conducted in 30 sites in Europe and Israel. The company estimate to release study data on H1 2009.
In addition, the company recently that it has signed an out license agreement with Kwang Dong Pharmaceutical Co, a Korean company, granting Kwang Dong exclusive rights to develop and commercialize the drug CF101 for rheumatoid arthritis, in Korea. CF101, Can-Fite's lead drug, is currently being tested in a multi-national phase-IIb study for its therapeutic activity in the treatment of rheumatoid arthritis and in two phase-IIa studies: one for the treatment of psoriasis and the other for dry eye syndrome.
The terms of the license include an upfront payment as well as milestone payments to Can-Fite in an aggregate amount of US$ 1.5M; and certain royalties on sales. Additionally, Kwang Dong will also purchase equity in Can- Fite in an amount representing 1 per cent of Can-Fite's outstanding share capital at a premium of 50 per cent above market price.