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news.Israel-based Can-Fite BioPharma has signed a distribution agreement with Canada-based Cipher Pharmaceuticals for the distribution of CF101, an A3 adenosine receptor agonist, designed to treat moderate to severe psoriasis and rheumatoid arthritis in the Canadian market.
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As part of the deal, Can-Fite will receive an upfront payment of C$1.65m and is eligible for milestone payments of up to C$2m and royalties from product sales in Canada.
In addition, the agreement will see Can-Fite deliver finished product to Cipher.
Can-Fite had recently completed a Phase II/III trial, designed to evaluate the efficacy of CF101 in patients with moderate to severe plaque psoriasis.
A total of 326 patients through 17 clinical centers in the US, Europe, and Israel, were enrolled in the double-blind, placebo-controlled Phase II/III trial.
The company intends to report top-line results from the Phase II/III trial at the end of March 2015.
Interim results from this trial and final results from an earlier Phase II trial in psoriasis were both positive showing that CF101 effectively improved disease symptoms.
Cipher president and chief executive officer Shawn O’Brien said: "This transaction deepens our Canadian portfolio with a high-potential, novel treatment option for two important indications.
"As an orally bioavailable drug, we believe CF101 has the potential to offer a much-needed treatment alternative to patients living with psoriasis and rheumatoid arthritis.
"We see CF101 as being complementary to our Beteflam Patch, giving us two products targeting psoriasis, one of the most common autoimmune diseases in Canada."
CF101 is a new, first in class, small molecule, orally bioavailable drug with a favorable therapeutic index showed in Phase II clinical trials.
Currently, CF101 is being developed to treat autoimmune inflammatory diseases including psoriasis (Phase II/III) and rheumatoid arthritis (completed Phase II).