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Featured Company News – Can-Fite Receives Second Milestone Payment From CKD Pharmaceuticals for Namodenoson (CF102) in South Korea

Research Desk Line-up: Atara Biotherapeutics Post Earnings Coverage

LONDON, UK / ACCESSWIRE / August 25, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Can-Fite BioPharma Ltd (NYSE: CANF) ("Can-Fite"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CANF. The Company announced on August 23, 2017, that it has received a milestone payment of $500,000 from Chong Kun Dang Pharmaceuticals ("CKD"), which has licensed the exclusive right to distribute Namodenoson (CF102) for the treatment of liver cancer in Korea. The transaction is subject to regulatory approvals. This is the second payment received by Can-Fite, as part of the Korean distribution agreement with CKD. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Atara Biotherapeutics, Inc. (NASDAQ: ATRA) for due-diligence and potential coverage as the Company reported on August 07, 2017, its financial results for Q2 2017 and also reported recent operational highlights. Tune in to our site to register for a free membership, and be among the early birds that get our report on Atara Biotherapeutics when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on CANF; also brushing on ATRA. Go directly to your stock of interest and access today's free coverage at:

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Can-Fite received its first payment of $500,000 from CKD on December 21, 2016, as part of a $3 million distribution deal.

Terms of the Distribution Agreement

Pursuant to the agreement, Can-Fite will supply Namodenoson to CKD, and the latter will bear all costs associated with the development and other related activities. CKD will also be responsible for the regulatory approvals, marketing, sales, and distribution of Namodenoson in Korea.

Can-Fite's Second Distribution Agreement in Korea

This agreement is Can-Fite's second distribution and licensing deal in Korea, where the Company's drug candidate Piclidenoson has been out-licensed to Kwang Dong Pharmaceutical Co. for the treatment of rheumatoid arthritis.

Namodenoson's Clinical Development Advancing in Liver Cancer Treatment

Dr. Pnina Fishman, Chief Executive Officer (CEO) of Can-Fite, expressed her pleasure to work with CKD in Korea to advance Namodenoson. She mentioned that Namodenoson's clinical development in the treatment of liver cancer is advancing, and has been marked by Can-Fite's recent completion of patient enrollment in the US, Europe, and Israel in the Phase-II study of patients with advanced hepatocellular carcinoma with underlying Child-Pugh Class B cirrhosis.

Can-Fite Signed Distribution Deal for Namodenoson in South Korea in October 2016

As per the press release, on October 25, 2016, Can-Fite signed a distribution agreement with CKD for the exclusive right to distribute Namodenoson CF102 for the treatment of liver cancer in South Korea, for up to $3,000,000 in upfront and milestone payments, plus a percentage rate of royalties on net sales in the low twenties. The distribution agreement further provided that Can-Fite would deliver finished product to CKD and granted CKD a right of first refusal to distribute CF102 for other indications for which Can-Fite developed CF102.

About Namodenoson (CF102)

Namodenoson (CF102) is an oral small molecule drug possessing potent anti-cancer effect. The safety of CF102 has been demonstrated in preclinical studies, Phase-I clinical study, and is being evaluated in Phase-II trials for two indications: (1) as a second-line treatment for hepatocellular carcinoma, and (2) as a treatment for non-alcoholic fatty liver disease and non-alcoholic steatohepatitis.

Can-Fite has received Orphan Drug Designation for Namodenoson in Europe and the US, as well as Fast Track Status in the US as a second-line treatment for hepatocellular carcinoma.

About Can-Fite BioPharma Ltd

Can-Fite is an Israeli biopharmaceutical Company with fully integrated pharmaceutical discovery and clinical development capabilities. The Company has an advanced pipeline of proprietary compounds in phase-2 and -3 clinical development stage, which address autoimmune-inflammatory and cancer diseases. The Company's lead drug candidate, Piclidenoson, is scheduled to enter Phase-III trials in 2017 for two indications: rheumatoid arthritis and psoriasis.

About Chong Kun Dang Pharmaceutical Corp.

CKD is engaged in the development and manufacturing of high value-added products through trend-leading R&D based on world-class fermentation, synthesis, and life science technologies. The Company offers prescription drugs for anti-hypertension, anti-hyperlipidemia, anti-diabetics, anticancer, and immunosuppressant; health supplements; and healthy beverage products. The Company was founded in 1941 and is headquartered in Seoul, South Korea.

Last Close Stock Review

On Thursday, August 24, 2017, Can-Fite BioPharma's stock closed the trading session at $1.65, jumping 5.10% from its previous closing price of $1.57. A total volume of 53.22 thousand shares were exchanged during the session, which was above the 3-month average volume of 27.72 thousand shares. The stock currently has a market cap of $51.16 million.

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