RTTNews | Jun 28, 2021 07:19AM EDT

07:19 Monday, June 28, 2021 (RTTNews.com) - Can-Fite BioPharma Ltd. (CANF) said it has reached a development and commercialization agreement with Vetbiolix, a France-based veterinary biotech company, for the development of Piclidenoson for the treatment of osteoarthritis in companion animals including dogs and cats.

Vetbiolix will have the exclusive right to Piclidenoson in the veterinary osteoarthritis market for two years, during which time Vetbiolix will conduct proof-of-concept studies and cover all associated costs.

If the studies yield positive data and Vetbiolix exercises its option to obtain the license from Can-Fite, then Vetbiolix will be obligated to pay Can-Fite upfront and milestone payments, in addition to royalties on sales upon regulatory approval for veterinary use.

The canine osteoarthritis market is projected to reach $3 billion by 2024.

Read the original article on RTTNews ( https://www.rttnews.com/3205362/can-fite-biopharma-signs-deal-with-vetbiolix-for-development-of-piclidenoson-for-pets.aspx)

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