Can-Fite BioPharma signs development, commercialization agreement with Vetbiolix

Can-Fite BioPharma announced that its veterinary partner Vetbiolix exercised its option and signed a development and commercialization agreement with Can-Fite for the development of Piclidenoson for the treatment of osteoarthritis in companion animals including dogs and cats. Vetbiolix concluded a clinical study in dogs with osteoarthritis who were treated orally with piclidenoson for a couple of months period. The arthritis market for companion animals is estimated by Coherent Market Insights to be $3.8 Billion in 2023 and is expected to grow to $6.3 Billion by 2030. Can-Fite and Vetbiolix model that Piclidenoson has the potential to capture up to 6% of this opportunity, with peak worldwide sales of $445 Million by 2034. Under the agreement, Can-Fite is entitled to receive a 15% royalty on worldwide sales in this indication. This means that Can-Fite’s upfront and royalties on sales upon regulatory approval for veterinary use, is projected to be $325 million in the aggregate over the next decade assuming a 2027 launch.