Israeli biotechnology company Can-Fite BioPharma Ltd. (NYSE: CANF) said Monday that its drug candidate Piclidenoson for the treatment of osteoarthritis in mammals has been granted Patent No. 10,265,337 from the U.S. Patent and Trademark Office with the title “Use of A3 Adenosine Receptor Agonist in Osteoarthritis Treatment.”
The company is considering possible partnerships with companies from the animal health pharmaceutical industry that could in-license and create Piclidenoson for the companion animal market.
Canine osteoarthritis is being treated with oral non-steroidal anti-inflammatory drugs that only address symptoms and have damaging side effects, and an injectable disease modifying osteoarthritis drug which only affects the progression of the disease, according to the company.
Don’t miss out on the top cannabis stories of the day. Click here to sign up for our daily insider newsletter.
Piclidenoson, “a novel, first-in-class, A3 adenosine receptor agonist small molecule, orally bioavailable drug,” is said to offer safer and more effective oral treatment for canine osteoarthritis. It is also in Phase III trials for rheumatoid arthritis and psoriasis.
“As the number of companion animals increase and their role in family life becomes more prominent, the animal health market has shown robust growth. Piclidenoson may provide superior relief to companion animals for indications including canine osteoarthritis. While Can-Fite remains entirely focused on the development of Piclidenoson for rheumatoid arthritis and psoriasis indications, we do see an opportunity to out-license our drugs in the veterinary market,” CEO Dr. Pnina Fishman said in a statement.
Can-Fite BioPharma is a biotechnology company focused on treatments for cancer, sexual dysfunctions and inflammatory diseases.
The stock was trading 2.52% higher at $2.44 at the time of publication Monday.
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.