Can-Fite BioPharma Ltd. (TASE:CFBI) has signed an agreement with Plexus Ventures to help commercialize its CF101 drug. CF101 has successfully completed clinical trials for psoriasis and dry-eye syndrome.
Plexus Ventures, which Can-Fite describes as a company with an international reputation, will help it choose a strategic partner for the global licensing and marketing stage of CF101.
Founded in 1990, Plexus provides strategic business development solutions and the establishment of collaborations in the pharmaceutical and biopharmaceutical industry. The company has offices in the US, Europe, South America, and Asia.
With the successful trial of CF101 for treating psoriasis, Can-Fite is preparing to file an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA). The company will meet with FDA officials for this purpose, and it intends to conduct the trials necessary for registering the drug, with a strategic partner.
Following the additional success of CF101 for dry-eye syndrome, Can-Fite is planning trials of the drug to treat glaucoma and other eye diseases.
Can-Fite's share rose 2.3% in morning trading to NIS 0.80, giving a market cap of NIS 166 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 24, 2009
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