Can-Fite BioPharma Ltd. (TASE:CFBI) has completed the recruitment of patients for the Phase I/II clinical trial of its CF102 drug for the treatment of liver cancer, after the safety committee reviewed the interim results and gave the go-ahead to continue the trial.
The second stage of the trial will test the safety and efficiency of CF102 in higher dosages than in the first stage. The trial will take place at the Rabin Medical Center (Beilinson Hospital) in Petah Tikva, following the successful completion of the Phase I trial in the US on the basis of a Food and Drug Administration (FDA) Investigational New Drug (IND) application.
According to Can-Fite, liver cancer is one of five most prevalent forms of cancer in the world, affecting 450,000 new patients each year. It is most frequent among people with hepatitis B or C, as well as among alcoholics. The company estimates the market potential for a treatment like CF102 at $850 million, and believes that it will rise to $1 billion in 2010.
Can-Fite has already undertaken two clinical trials of CF102 for liver cancer and for Hepatitis C.
Can-Fite's share rose 4.5% on the news, but then fell back to a gain of 0.3% to NIS 0.65, giving a market cap of NIS 141 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 28, 2009
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