ISRAEL'S CAN-FITE SIGNS AGREEMENT TO SELL ANTI-INFLAMMATORY IN JAPAN

Israeli drugmaker Can-Fite BioPharma has signed a memorandum of understanding with an unnamed Japanese company that outlicenses the rights for use of CF101, Can-Fite's anti-inflammatory medication, in Japan. The agreement will provide the Japanese company with exclusivity for the use of oral and injectable versions of CF101.

Financial terms of the agreement are expected to include an up-front license-signing fee, milestone payments based on certain regulatory approvals stages, participation in Can-Fite's clinical development costs related to CF101 and royalties based on sales of the drug in Japan, the companies reported.

CF101, which was developed for the treatment of rheumatoid arthritis, is currently in Phase II clinical trials in Israel, and has previously gone through clinical trials in the U.S. and UK. It has been shown to be active against a variety of autoimmune disorders and cancers.