Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address cancer, liver and inflammatory diseases, today announced pre-clinical data generated at the Hadassah Medical Center by Dr. Rifaat Safadi’s lab demonstrate that Namodenoson induces weight loss in experimental models and normalizes glucose levels. Dr. Safadi is Head of the Liver Unit, Gastroenterology and Liver Diseases, Division of Medicine at Hadassah Medical Center, Professor of Internal Medicine, Bowel, Liver Disease, and Metabolic Syndrome at Hebrew University in Israel, and the Principal Investigator of Can-Fite’s Phase II study of Namodenoson in the treatment of patients with NAFLD and NASH.

Dr. Safadi commented, “This new weight loss data, together with the good safety profile of Namodenoson, supports its potential utilization as an anti-obesity drug.”

New pre-clinical studies of Namodenoson showed a significant decrease in weight in both high fat diet mouse models and in diabetic rat models. Moreover, Namodenoson normalized glucose levels in a glucose tolerance test (GTT). Based on these findings, a PCT patent application has been filed through the World Intellectual Property Organization (WIPO) for the utilization of Namodenoson as an anti-obesity drug.

The global obesity treatment market is lucrative due to the awareness of a link between obesity and chronic diseases such as diabetes and NASH. According to Market Research Future, the global obesity treatment market is expected to exceed $12 billion by 2023.

Can-Fite completed enrollment in its Phase II study of Namodenoson in patients with NAFLD with or without NASH, with evidence of active inflammation. The primary endpoint of the study is serum ALT levels, with a secondary endpoint of percentage change in liver fat, as measured by PDFF (proton density fat fraction).

The Company expects to release data from the Phase II NAFLD/NASH study of Namodenoson during the first quarter of 2020.

About Namodenoson

Namodenoson is a small orally bioavailable drug that binds with high affinity and selectivity to the A3 adenosine receptor (A3AR). Namodenoson is being evaluated as a second line treatment for hepatocellular carcinoma, with a recently completed Phase II trial and planned Phase III trial in this indication. The drug is currently in an ongoing Phase II trial as a treatment for non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). A3AR is highly expressed in diseased cells whereas low expression is found in normal cells. This differential effect accounts for the excellent safety profile of the drug.

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction. The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Can-Fite's liver cancer drug, Namodenoson, recently completed a Phase II trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and is in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company's third drug candidate, has shown efficacy in the treatment of erectile dysfunction in preclinical studies and the Company is investigating additional compounds, targeting A3AR, for the treatment of sexual dysfunction. These drugs have an excellent safety profile with experience in over 1,000 patients in clinical studies to date. For more information please visit: www.can-fite.com.

Forward-Looking Statements

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