Can-Fite BioPharma Receives Quotation Clearance for Its Level 1 ADRs

     Can-Fite BioPharma Receives Quotation Clearance for Its Level 1 ADRs

U.S. investors now have trading access to an Israeli biotech company with a
promising portfolio of clinical stage drugs designed to treat inflammation and
cancer

PR Newswire

PETACH TIKVA, Israel, Nov. 5, 2012

PETACH TIKVA, Israel, Nov. 5, 2012 /PRNewswire/ --Can-Fite BioPharma (TASE:
CFBI, OTC: CANFY), a biotechnology company with a pipeline of proprietary
small molecule drugs that address inflammatory and cancer diseases,  announced
today that it has received a FINRA quotation clearance of its Level 1 American
Depository Receipts (ADRs). The ADRs are traded on the over-the-counter (OTC)
market under the symbol CANFY. The Company's ordinary shares trade on the Tel
Aviv Stock Exchange under the symbol CFBI and each ADR represents 50 ordinary
shares.

Can-Fite has appointed The Bank of New York Mellon as its Depositary Bank to
establish and maintain the ADR facility. The ADRs will be tradable via
licensed U.S. brokers in the ordinary course of trading.

"This is an exciting time for Can-Fite as we expand our exposure into the U.S.
investment community," commented Pnina Fishman, Chief Executive Officer of
Can-Fite BioPharma, Ltd. "The progress we are making through our clinical
stage projects coupled with our strategic partnerships are helping us to drive
shareholder value as we continue to develop revolutionary inflammatory and
cancer fighting drugs."

In parallel, Can-Fite continues with its plans to register Level 2 ADRs.

Can-Fite recently announced the continuation of patient enrollment in its
Psoriasis Phase 2/3 clinical study with CF101. This decision follows an
interim analysis of safety and efficacy data from the first 103 patients.

For further information, please contact:

Motti Farbstein
CFO
Can-Fite BioPharma Ltd.
Telephone: +972-3-9241114
Email: motti@canfite.co.il

About Can-Fite Biopharma Ltd.

Can-Fite Biopharma Ltd is an Israeli public company, the ordinary shares of
which are traded on the Tel Aviv Stock Exchange (TASE: CFBI). American
Depository Receipts of the company are traded on the over-the-counter market
(OTC: CANFY). The company, which commenced business activity in 2000, was
founded by Pnina Fishman, Ph.D., researcher in the Rabin Medical Center, and
Ilan Cohn Ph.D., patent attorney and senior partner at Reinhold Cohn Patent
Attorneys. Pnina Fishman serves as CEO of the company. The company was founded
on the basis of Fishman's scientific findings, and is focused on the
development of small molecule orally bioavailable drugs, ligands to the A3
adenosine receptor. The latter mediates anti-inflammatory and anti-cancer
effects and is suggested as a biological predictive marker. The company's lead
drug, CF101, is in clinical development for the treatment of autoimmune
inflammatory diseases. The CF102 drug candidate is being developed for the
treatment of liver diseases. Can-Fite has a wealth of clinical experience: to
date, more than 700 patients have participated in clinical trials conducted by
the company. Can-Fite previously licensed its activity in the ophthalmic field
to OphthaliX Inc., in which it holds a controlling interest (OTC: OPLI).

Contact:

KCSA Strategic Communications
Jeff Corbin / Phil Carlson
jcorbin@kcsa.com / pcarlson@kcsa.com
212-896-1233

Safe Harbor Statement

Any statements in this press release that relate to the Company's expectations
are forward-looking statements, within the meaning of the Private Securities
Litigation Reform Act. The Private Securities Litigation Reform Act of 1995
(PSLRA) implemented several significant substantive changes affecting certain
cases brought under the federal securities laws, including changes related to
pleading, discovery, liability, class representation and awards fees. Since
this information may involve risks and uncertainties and are subject to change
at any time, the Company's actual results may differ materially from expected
results. Additional risks associated with Can-Fite's business can be found in
its periodic filings with the Tel Aviv Stock Exchange.

SOURCE Can-Fite BioPharma
 
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