Can-Fite Achieves Milestone with First Patient Dosing in Pancreatic Cancer Phase IIa Clinical Trial

Leading Biopharmaceutical Company Advances Novel Treatment for Aggressive Disease

Groundbreaking Therapy Holds Promise for Improving Patient Outcomes

NEW YORK, NY - March 8, 2023 - Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI), a leading clinical-stage biotechnology company, proudly announces the initiation of patient dosing in its Phase IIa clinical trial evaluating the efficacy and safety of Namodenoson in patients with advanced pancreatic cancer.

Pancreatic cancer is an aggressive and deadly disease with a five-year survival rate of less than 10%. Current treatment options are often ineffective, highlighting the urgent need for novel therapies.

Namodenoson is a novel, first-in-class drug candidate that targets the A3 adenosine receptor (A3AR), a key regulator of the immune system. Preclinical studies have demonstrated Namodenoson's ability to inhibit tumor growth and metastasis, making it a promising candidate for treating pancreatic cancer.

The Phase IIa trial is a randomized, double-blind, placebo-controlled study designed to evaluate the safety and efficacy of Namodenoson in patients with locally advanced or metastatic pancreatic cancer who have failed at least one prior line of therapy. The trial will enroll approximately 60 patients at leading cancer centers in the United States and Israel.

"Initiating patient dosing in this Phase IIa trial is a significant milestone for Can-Fite and for patients with pancreatic cancer," said Dr. Pnina Fishman, CEO of Can-Fite.

"Namodenoson has demonstrated promising preclinical results, and we are eager to evaluate its potential to improve outcomes for patients battling this devastating disease. We look forward to sharing the results of this trial as they become available."

Can-Fite's commitment to developing innovative therapies for unmet medical needs is unwavering. The company's robust pipeline includes several promising drug candidates in various stages of clinical development for the treatment of cancer, liver diseases, and inflammatory diseases.

For more information, please visit www.can-fite.com.

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is a leading clinical-stage biotechnology company with a pipeline of proprietary small molecule drug candidates addressing inflammatory, cancer, and liver diseases. The Company's lead drug candidate, Namodenoson, is a novel, first-in-class drug candidate that targets the A3 adenosine receptor (A3AR) for the treatment of cancer and inflammatory diseases. Namodenoson has shown promising preclinical and clinical results in several indications, including pancreatic cancer, rheumatoid arthritis, and non-alcoholic steatohepatitis (NASH).

Forward-Looking Statements

This press release contains forward-looking statements. These statements are based on the current beliefs and expectations of Can-Fite's management and are subject to numerous risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. Can-Fite undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact:

Can-Fite BioPharma Ltd.

Email: info@can-fite.com