Cannabinoids bind to A3AR, the target of Can-Fite’s drugs
Can-Fite’s unparalleled expertise in these targets will be utilized to develop new cannabis-based pharmaceuticals
The transaction involves technology exchange, co-development, and revenue share on CBD-based pharmaceuticals and CBD-based A3AR assays
Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs that bind specifically to the A3 adenosine receptor (A3AR), addressing cancer, liver, and inflammatory diseases, announced today it has entered into a collaboration agreement with Univo Pharmaceuticals (TASE:UNVO), a medical cannabis company, to identify and co-develop specific formulations of cannabis components for the treatment of cancer, inflammatory, autoimmune, and metabolic diseases.
It is widely recognized that the identification of specific receptors and pathways through which CBD operates is expected to greatly enhance the development of CBD-based pharmaceuticals. Can-Fite is uniquely positioned to contribute its deep pharmaceutical development expertise to the CBD market, based on findings published in peer reviewed scientific journals demonstrating that CBDs bind to the Gi protein-coupled A3 adenosine receptor (A3AR), which is over-expressed in pathological cells. Can-Fite is a global leader in the research and development of drugs that target A3AR.
There are two main components to the collaboration agreement:
Discovery, development, and commercialization of medical cannabis-based therapeutics: Can-Fite and Univo will jointly collaborate in the discovery of, and Can-Fite will have a first right to express interest to clinically develop, cannabis and cannabis components for the treatment of cancer, inflammatory, autoimmune, and metabolic diseases.
Development and commercialization of CBD screening assays: Can-Fite will develop a screening assay to identify therapeutically active cannabis components, and once developed, Univo will market the assay on a ‘fee for service’ basis to other pharmaceutical companies worldwide.
According to Adroit Market Research, the medical cannabis market is projected to grow at a CAGR of 29% to $56.7 billion by 2026 and according to Zion Market Research, the global market for cell-based assays is estimated to reach $16.2 billion by 2025.
In this collaboration, Univo will provide Can-Fite with cannabis and cannabis components, as well as full access to its laboratories for both research and manufacturing. Can-Fite has agreed to pay Univo a total of $500,000 through two installments and is issuing to Univo approximately 19.9 million of its ordinary shares through a private placement, representing approximately 16.6% of Can-Fite’s ordinary shares outstanding after giving effect to the issuance. The companies will initially share ownership of intellectual property developed in this collaboration. Revenues derived from the collaboration will generally be shared between Can-Fite and Univo on the basis of each party’s contribution. Golan Bitton, Univo’s CEO, is being appointed to the Can-Fite board in connection with the collaboration agreement.
Dr. Pnina Fishman, Can-Fite CEO, commented, “This collaboration provides Can-Fite with new and very exciting business opportunities for utilizing our technology platform and expertise.”
Golan Bitton, Univo’s CEO stated, “Can-Fite’s deep expertise in A3 adenosine receptors is a significant asset in our joint collaboration and we are pleased to have formed this alliance. Can-Fite has taken its drug candidates into Phase II and Phase III clinical studies and this makes Can-Fite highly suitable to take cannabis-based therapeutics into fully-fledged clinical development.”
About Can-Fite BioPharma Ltd.
Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction. The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Can-Fite'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. For more information please visit: www.can-fite.com.
About UNIVO Pharmaceuticals
UNIVO (TASE:UNVO) is a vertically-integrated medical cannabis company including cultivation, manufacturing and distribution as well as the creation of innovative products and dosage forms for next-generation medical cannabis products. UNIVO holds initial licenses for the entire supply chain: growing, breeding and nursery, production of medical cannabis products, research and development and distribution. UNIVO plans to source its own cannabis by way of a partnership with Amit Farms, located in the South of Israel covering over 75,000m² with 15,000 m² to be designated for cannabis growth. It is intended that the farm will use state-of-the art innovative agricultural technologies to grow high quality cannabis and develop UNIVO’s own strains targeted to meet specific therapeutic needs. UNIVO’s IMC-GMP manufacturing facility plans to produce a wide variety of medical cannabis products that meet the most stringent international standards. The plant is scheduled to receive IMC-GMP certification and begin production in Q3-Q4 2019. UNIVO uses state-of-the-art ethanol and CO2 based extraction technologies to manufacture a wide range medical cannabis products. UNIVO believes its world class R&D guarantees a steady flow of new products in multiple doses with cutting edge dosage forms. The UNIVO manufacturing facility is designed to safely store all finished products according to the strictest regulatory and security requirements.
根据adroit market research的预测，到2026年，医用大麻市场的复合年增长率将达到29%，达到567亿美元；根据zion market research的预测，到2025年，全球细胞分析市场预计将达到162亿美元。
在这一合作中，联合国毒品和犯罪问题研究所将提供大麻和大麻成分，并为研究和制造提供充分进入其实验室的机会。Can Fite已同意分两期向Univo支付总计500000美元，并通过私募向Univo发行约1990万股普通股，约占Can Fite发行生效后已发行普通股的16.6%。这些公司最初将分享在这次合作中开发的知识产权的所有权。合作产生的收入通常将由Can Fite和Univo根据各方的贡献进行分享。Univo首席执行官戈兰•比顿（Golan Bitton）正被任命为与合作协议相关的Can-Fite董事会成员。