Can-Fite to Attend BioFIT 2019 Conference in Europe with Focus on Partnering Meetings for Namodenoson in NASH

Can-Fite BioPharma Ltd. (NYSE MKT: CANF) (TASE:CFBI), a biotechnology company with a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, announced today the Company's Director of Business Development, Dr. Sari Fishman, will attend BioFIT 2019 on December 10th and 11th, 2019 in Marseille, France. BioFIT brings together big pharma, biotech companies, and public research institutions for technology transfer and licensing opportunities.

Dr. Fishman is scheduled to conduct one-on-one meetings with potential commercialization and out-licensing partners. A large number of these meetings are with companies interested in Namodenoson in the treatment of NASH (non-alcoholic steatohepatitis) as well as Piclidenoson for anti-inflammatory indications. Namodenoson has already been out-licensed for NASH in China and South Korea. Can-Fite recently completed enrollment in its Phase II study of 60 patients with NAFLD (non-alcoholic fatty liver disease) with or without NASH and plans to announce topline results in the first quarter of 2020.

Namodenoson's mechanism of action in NASH was highlighted in a recently published study in the International Journal of Molecular Medicine. In pre-clinical studies, Namodenoson significantly reduced liver inflammation and fibrosis via de-regulation of the Wnt and the NF-kB mechanistic pathway. The full article can be found here: https://www.spandidos-publications.com/10.3892/ijmm.2019.4364

"We are encouraged by the high level of interest we are receiving in Namodenoson for the treatment of NASH. As a small molecule drug with an excellent safety profile, in pre-clinical studies Namodenoson has shown to induce anti-inflammatory, anti-steatotic, and anti-fibrotic effects," stated Can-Fite CEO Dr. Pnina Fishman. "Can-Fite has received approximately $18 million in upfront and milestone payments to date through licensing and distribution deals for our drug candidates, and we look forward to productive talks at BioFIT."

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, inflammatory disease and sexual dysfunction. The Company's lead drug candidate, Piclidenoson, is currently in Phase III trials for rheumatoid arthritis and psoriasis. Can-Fite's liver cancer drug, Namodenoson, recently completed a Phase II trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and is in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company's third drug candidate, has shown efficacy in the treatment of erectile dysfunction in preclinical studies and the Company is investigating additional compounds, targeting A3AR, for the treatment of sexual dysfunction. These drugs have an excellent safety profile with experience in over 1,000 patients in clinical studies to date. For more information please visit: www.can-fite.com.

Forward-Looking Statements

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