Can-Fite's High-Stakes Hunt: From Lab Innovation to Global Partnerships

RAMAT GAN, Israel – June 17, 2026 – Next week, the bustling halls of the San Diego Convention Center will host the BIO International Convention, the biotechnology industry's largest global partnering event. For thousands of companies, it’s a nexus of opportunity. But for a select few, it represents a critical inflection point. Among them is Can-Fite BioPharma, an Israeli clinical-stage company whose leadership will arrive with a clear mission: to translate years of scientific innovation into the global partnerships necessary to bring its advanced therapies to market.

Can-Fite is at a pivotal moment. With two drug candidates, Namodenoson and Piclidenoson, deep in late-stage Phase III trials for major diseases like liver cancer and psoriasis, the company is moving beyond the lab bench and into the complex world of global commercialization. The meetings its team will conduct in San Diego are not just about securing funds; they are about finding strategic allies to navigate regulatory approvals, scale manufacturing, and ultimately deliver its treatments to patients battling some of medicine’s most intractable conditions.

A Platform Built on Precision

At the heart of Can-Fite's pipeline is its proprietary A3 adenosine receptor (A3AR) platform. This technology represents a significant shift towards precision medicine, targeting a biological mechanism that distinguishes sick cells from healthy ones. The A3AR is a receptor found in low concentrations on normal cells but becomes highly overexpressed on cancerous and inflammatory cells.

Can-Fite’s small-molecule drugs are designed as highly selective agonists that bind to these overexpressed receptors, triggering a cascade of therapeutic effects. In cancer cells, this can induce programmed cell death (apoptosis), while in inflammatory conditions, it can dampen the excessive immune response. This targeted approach is the key to the platform’s most significant advantage: a favorable safety profile demonstrated across more than 1,600 patients in numerous clinical trials.

“The holy grail in drug development is hitting the target without causing collateral damage,” notes one industry analyst familiar with targeted therapies. “Platforms that can demonstrate this kind of selectivity are always compelling because they promise efficacy with fewer side effects, which is a massive consideration for both regulators and patients, especially in chronic diseases.”

Tackling Medicine's Toughest Challenges

The promise of the A3AR platform is most evident in the breadth and ambition of Can-Fite’s clinical pipeline. The company is not shying away from diseases with high unmet needs and challenging treatment paradigms.

Its lead oncology candidate, Namodenoson, is being aimed at a trio of formidable foes. It is currently in a pivotal Phase III study for advanced hepatocellular carcinoma (HCC), the most common type of liver cancer, for which it has received Fast Track and Orphan Drug designations in the U.S. The potential impact is underscored by the remarkable case of one patient in a compassionate use program who has achieved a nine-year survival with a complete response. The drug is also advancing in a Phase IIb study for MASH, a progressive form of fatty liver disease on the verge of becoming a global epidemic with no approved treatments. Most recently, Namodenoson completed a Phase IIa study in pancreatic cancer—one of the deadliest malignancies—where it was found to be safe and showed encouraging signs of disease stabilization in heavily pretreated patients. The company now plans to advance it into a combination study with immunotherapy.

On the inflammatory front, Can-Fite’s other lead candidate, Piclidenoson, is nearing the finish line in a pivotal Phase III trial for psoriasis. Topline results from a prior study showed it was statistically superior to a placebo and demonstrated an excellent safety profile, positioning it as a potential oral alternative to injectable biologics and other systemic drugs. In a move that highlights the platform's versatility, Can-Fite is also preparing a Phase II study for Piclidenoson in Lowe Syndrome, a rare and devastating genetic disorder with no approved therapies. This dual strategy—addressing both multi-billion dollar markets and underserved rare disease populations—showcases a commitment to maximizing the platform's impact.

The Road to Market Runs Through San Diego

Developing innovative drugs is an expensive, high-risk endeavor. Like many clinical-stage biotechs, Can-Fite operates in a cycle of raising capital to fund its extensive research and development, which saw expenses rise 16% last year. While a significant $175 million funding round in 2025 propelled its lead drugs into their current Phase III trials, the path to commercialization requires even greater resources and expertise.

This is why the BIO convention is so crucial. Can-Fite has already proven its ability to forge partnerships, having generated approximately $20 million from regional licensing deals. Now, with pivotal data on the horizon, the goal is to secure larger, global collaborations. Such deals provide not only upfront payments and future royalties but also access to the vast commercial infrastructure of established pharmaceutical giants.

Dr. Sari Fishman, Can-Fite's Vice President of Business Development, will lead the charge in San Diego. "BIO International Convention is one of the most important partnering events in the biotechnology industry, bringing together companies seeking innovative therapeutic assets and strategic collaborations," she stated in the company's announcement. "With two pivotal Phase III programs, an ongoing Phase IIb study in MASH, and additional opportunities in oncology and rare diseases, we look forward to meeting with potential partners."

The timing is opportune. The company’s steady clinical progress has not gone unnoticed, with one analyst recently upgrading its stock to a “Buy” and setting a $7.00 price target, citing the pipeline's underlying value. The discussions that take place over four days in San Diego could very well determine how, and how quickly, the scientific promise of the A3AR platform is transformed into tangible treatments for patients worldwide.