Sources inform ''Globes'' that Can-Fite BioPharma Ltd. (TASE:CFBI; Bulletin Board: CANFY), which develops treatments for inflammatory diseases, is continuing its efforts to interest foreign strategic partners to invest in it. Last week, the company raised NIS 26 million in a secondary offering from US investment funds, including funds that specialize in the life sciences. The company is now seeking a single large financial investor which specializes in the life sciences to become a dominant party in it.
Seeking to boost trading in the share
At the same time, Can-Fite, run by CEO Pnina Fishman, is conducting a "non-deal road show"; a presentation to potential investors with no special transaction or offering on the agenda. The purpose of the meetings with the investors is to boost trading in the company's share, which recently began trading on Wall Street through American Depository Receipts (ADRs), which track the company's shares on the TASE.
Sources close to the company believe that, after the latest offering, Can-Fite meets all the necessary conditions for upgrading its ADRs for trading on Nasdaq, and that it will succeed in listing on Nasdaq in a few months.
Published by Globes [online], Israel business news - www.globes-online.com - on February 12, 2013
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