China Medical System Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that the Group through its wholly-owned subsidiary signed a License, Collaboration and Distribution Agreement (the “Agreement”) with Can-Fite BioPharma Ltd. (“Can-Fite BioPharma”) dated 6 August 2018. According to the Agreement, the Group gained exclusive, perpetual, transferable, sub-licensable rights to develop, register, manufacture and commercialize Can-Fite BioPharma’s current products CF101 and CF102 (the “Products”) in China (including Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan) (the “Territory”), among which, the main indications of the licensed Products are: for CF101, rheumatoid arthritis (RA) and psoriasis; for CF102, hepatocellular carcinoma (HCC) and non-alcoholic fatty liver disease (NAFLD) / non-alcoholic steatohepatitis (NASH).
CF101 (Piclidenoson), a small molecule compound and a selective agonist to the A3 adenosine receptor (A3AR), is an oral product developed for the treatment of autoimmune-inflammatory diseases including RA and psoriasis. CF101 is currently undergoing Phase III clinical trials.
CF102 (Namodenoson), a small molecule compound with a chemical structure similar to CF101, is also an orally selective A3AR agonist. CF102 is being evaluated in Phase II clinical trials targeting two indications, one is as a second line treatment for HCC, and another is as a treatment for NAFLD and NASH. CF102 has been granted Orphan Drug Designation in the United States and Europe and Fast Track Designation as a second line treatment for HCC by FDA.
Can-Fite Biopharma, a clinical-stage biopharmaceutical company, develops small molecule therapeutic products for the treatment of autoimmune-inflammatory, oncological, liver diseases as well as sexual dysfunction. Can-Fite BioPharma Ltd. was founded in 1994, is headquartered in Petah Tikva, Israel and listed on the Tel Aviv Stock Exchange (TASE:CFBI) and the New York Stock Exchange (NYSE:CANF).
This cooperation will further enrich the Group’s patented innovative pipeline products and the Group believes that the Products will have broad market prospects after being commercialized in the Territory.