# Can-Fite BioPharma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/can-fite-biopharma

- Industry: Biotechnology
- Headquarters: Petah Tikva, Israel
- Website: www.canfite.com
- Total disclosed funding: $12M
- Latest round: Series B (Jun 11, 2003)
- Investors on record: 5

## About

Based in Israel, Can-Fite BioPharma Ltd. specializes in developing innovative therapeutic drugs targeting the A3 adenosine receptor, focusing on the treatment of inflammatory and oncological diseases.Can-Fite BioPharma Ltd. is engaged in the development of proprietary drug candidates. The company is headquartered in Petah Tikva, Israel. Motti Farbstein serves as the CEO. Can-Fite has secured a total of USD 175.00 mn in funding across multiple rounds, with the most recent funding round occurring on September 29, 2005, raising ILS 45 million through an IPO.Can-Fite BioPharma primarily offers a range of proprietary drug candidates that leverage its advanced technology platform, focusing on the A3 adenosine receptor (A3AR) as a therapeutic target. The company's core products include Piclidenoson (CF101), which is in development for the treatment of psoriasis, and Namodenoson (CF102), aimed at addressing liver cancer and non-alcoholic steatohepatitis (NASH). These products are designed to modulate inflammatory and cancer pathways by binding with high affinity to A3AR, which is predominantly expressed in pathological cells while showing low expression in normal tissues. Can-Fite's drug candidates are actively being developed in clinical phases II and III, targeting a global clientele that includes pharmaceutical partners and healthcare providers across regions such as Canada, Spain, Switzerland, Austria, Korea, and China. The end users of these therapeutics are primarily patients suffering from inflammatory and oncological conditions, benefiting from targeted treatment modalities that aim to improve clinical outcomes.Can-Fite BioPharma's revenue structure is primarily driven by strategic partnerships and licensing agreements for its drug candidates. The company reported revenue of USD 810,000 in 2022, with an EBITDA of USD -10,082,000. Can-Fite has established collaborations with multiple pharmaceutical entities, such as Cipher Pharmaceuticals in Canada and Chong Kun Dang Pharmaceutical in Korea, to commercialize its products in various geographical markets. Transactions typically occur through licensing arrangements, where Can-Fite receives upfront payments and potential royalties based on future sales of its proprietary drugs. These agreements align with the company's objective to retain a continuous revenue stream while leveraging the marketing and distribution capabilities of established industry players.Can-Fite BioPharma is focused on advancing its drug candidates through clinical trials, with plans to launch new products in the coming years. The company intends to expand into new markets, particularly in North America and Europe, aiming to establish a stronger presence by 2025. The recent funding of USD 175.00 mn will be utilized to support these initiatives, including scaling operations and enhancing its research and development capabilities.

## Funding rounds

- Series B, Jun 11, 2003, $2M — SCP Vitalife Partners, LyonRoss Capital Management
- Series B, Jul 2, 2002, $10M — Yozma Group, Giza Venture Capital, Ascend Technology Ventures

## Investors

- Yozma Group (https://capitalatlas.ai/funds/yozma-group) — Series B
- Giza Venture Capital (https://capitalatlas.ai/funds/giza-venture-capital) — Series B
- Ascend Technology Ventures (https://capitalatlas.ai/funds/ascend-technology-ventures) — Series B
- SCP Vitalife Partners (https://capitalatlas.ai/funds/scp-vitalife-partners) — Series B
- LyonRoss Capital Management — Series B