trending Market Intelligence /marketintelligence/en/news-insights/trending/VgZJ4kAV4GprV8OWdGxaTA2 content esgSubNav
In This List

Can-Fite, Univo collaborating to develop CBD-based cancer therapies

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Can-Fite, Univo collaborating to develop CBD-based cancer therapies

Can-Fite BioPharma Ltd. and Univo Pharmaceuticals Ltd. have agreed to collaborate and develop cannabidiol-based therapies and assays in a cash-and-share deal for the treatment of cancer, inflammatory, autoimmune and metabolic diseases.

As part of the agreement, medical cannabis company Univo will provide Can-Fite with cannabis and its components, including full access to its laboratories for research and manufacturing.

Can-Fite's pipeline consists of small molecule drugs that bind specifically to the A3 adenosine receptor, or A3AR, for the treatment of cancer and liver and inflammatory diseases.

Based on findings showing that cannabidiols bind to the Gi protein-coupled A3AR, which is overexpressed in pathological cells, the collaboration aims to develop cannabidiol-based drugs targeting A3AR for the treatment of cancer and other diseases.

Can-Fite will pay $500,000 in two installments and through a private placement issue 19.9 million ordinary shares to Univo, representing 16.6% of Can-Fite's outstanding shares.

Products developed in the collaboration will be shared by both Israel-based companies, and revenues generated through the products will be shared according to their contribution.