Can-Fite BioPharma gains on deal to develop lead drug for arthritis in pets

Can Fite Biopharma

28/06/2021 14:18

** U.S.-listed shares of Israeli biotech co  CANF.A  rise
nearly 5% to $2.36 premarket
    ** Signs agreement with France-based veterinary biotech
company Vetbiolix to develop CANF's lead drug candidate,
Piclidenoson, to treat osteoarthritis in companion animals
including dogs and cats  urn:newsml:reuters.com:*:nBw6LZzt2a
    ** Says Vetbiolix will conduct proof-of-concept studies and
cover all associated costs during a period of two years
    ** Vetbiolix will be obligated to pay CANF upfront and
milestone payments if studies yield positive data and if
Vetbiolix exercises its option to obtain license to drug - Co
    ** Piclidenoson is currently in Phase 3 trial for psoriasis
and mid-stage study in treatment of moderate COVID-19
    ** Canine osteoarthritis market is projected to reach $3 bln
by 2024, says CANF
    ** CANF had gained about 26% YTD, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))