|
|
|
 25/01/2010
[Industry news]
CanFite/Morningside JV to develop novel liver therapeutic in Greater China
CanFite and Morningside will setup a joint venture (JV) company, which will receive exclusive rights to intellectual property related to CanFite\'s novel liver disease treatment
|
| |
|
Israel-based CanFite BioPharma announced that it has signed a memorandum of understanding (MOU) with Hong Kong-based investment group, Morningside Asia Venture, according to istockAnalyst.com January 23. The MOU states that CanFite and Morningside will setup a joint venture (JV) company, which will receive exclusive rights to intellectual property related to CanFite\'s novel liver disease treatment, CF 102, in China, Hong Kong, Macau, and Taiwan, as well as the responsibility to carry the product through clinical development in the four markets. Morningside will provide USD 7.5 million in funding for preclinical and clinical development (up through the completion of Phase II trials). CanFite will be allowed to access all clinical and preclinical data generated by the JV and retains the right to use the data in regulatory filings in other countries.
CanFite is a biopharmaceutical company mainly engaged in the development of novel treatments utilizing the Gi protein associated A3 adenosine receptor (which is highly expressed in inflammatory and cancer cells) as a therapeutic target. The company\'s leading drugs in the pipeline are CF 101, which is being studied for psoriasis, dry eye syndrome, and rheumatoid arthritis treatments, and CF 102, which is in two trials for the treatment of hepatocellular carcinoma (HCC) and hepatitis C infection. |
|
|
|
|
