Hello, we're here with Motti Farbstein, the Chief Executive Officer of Can-Fite. Motti, thanks for being with us.
Thank you for the opportunity.
Can-Fite has a unique platform and a pipeline addressing oncological and inflammatory diseases. Start with a brief overview of your current development programs.
We have two drugs in the clinic. The first one is Piclidenoson. We are about to initiate a pivotal phase III study for psoriasis that was agreed with the FDA and the EMA. The second disease is Lowe syndrome, which is a rare disease, and we are about to initiate a phase II. The third indication, we have a partner, a French company, that took Piclidenoson globally to develop it for pet osteoarthritis, and they just exercised the option in the licensing agreement following a positive phase II data in animals. The second indication is Namodenoson. We are enrolling patients to a pivotal phase III study in advanced liver cancer that was agreed with the FDA and the EMA. Today, we enrolled the first patient to a phase IIa in pancreatic cancer.
The last indication is NASH, where there is an ongoing phase IIb following a very successful phase IIa. In addition, we have a preclinical program, erectile dysfunction, with the CF602.
Motti, Piclidenoson has a remarkable number of applications. I want to know more about the market for psoriasis and osteoarthritis.
Sure. So the psoriasis drug market is forecast to grow to $32 billion by 2028, according to the estimate by Evaluate. And the pet osteoarthritis market for the companion animal is estimated to be $3.8 billion by 2023 and is expected to grow to $6.3 billion by 2030.
Now, Motti, you recently announced positive results from a clinical study in dogs with osteoarthritis, and that led to a partnership with VetBioBank. What can you tell us about the significance of that partnership?
Can-Fite and VetBioBank model that Piclidenoson has the potential to capture up to 6% of the $6.3 billion opportunity. We see worldwide sales of $445 million by 2034. Under the agreement, Can-Fite is entitled to receive 50% royalties on worldwide sales on this indication. That means that Can-Fite, upfront royalty sales, is projected to be $325 million in the next 10 years.
Your oncology drug candidate, Namodenoson, was recently granted Orphan Drug designation for pancreatic cancer. What's the next milestone investors should expect with that program?
Today, we achieved the first milestone with the first patient dosing in pancreatic cancer phase IIa clinical trial. We will enroll 20 patients in an open study in the U.S. and Israel.
Of course, you know, Motti, pancreatic cancer, it's a very aggressive form of cancer. Tell us how Namodenoson is differentiated from existing treatments.
Just as a background, in 2020, an estimated nearly 500,000 people were diagnosed with pancreatic cancer globally. Chemotherapeutic drugs have very limited effects in pancreatic cancer. The five-year survival rate for people with pancreatic cancer in the U.S. is only 11%. And the global pancreatic cancer therapeutic market was evaluated to be approximately $3.6 billion in 2021, and it's projected to grow approximately to $6.6 billion by 2030.
Now, in summary, Motti, what is the essential value proposition? Why should an investor take an interest in Can-Fite right now?
We have an oral drug with proven safety and efficacy in pivotal phase III studies. Piclidenoson and Namodenoson are phase III assets in psoriasis and liver cancer. Namodenoson showed strong efficacy in phase II NASH study, and it's studied in exploratory phase IIa study in pancreatic cancer. We were able to monetize the advanced portfolio through corporate partnerships. Piclidenoson and Namodenoson have been licensed out in selected territories with more than $20 million received to date and potentially up to additional $130 million plus royalties. We have an intellectual property portfolio that consists of 15 patents family issued and pending to protect the different indications. And financially, we are well positioned. We have to conduct all the clinical development programs that I already presented to you.
Motti, thanks for sharing the Can-Fite story with us today.
Thank you very much. Thank you.