Can-Fite BioPharma Ltd., a biotechnology company, announced the United States Patent and Trademark Office has issued a Notice of Allowance for a patent titled, "A3 Adenosine Receptor Allosteric Modulators". This composition of matter patent protects the use of Can-Fite's proprietary A3 Adenosine Receptor (A3AR) modulator including the preparation of its pharmaceutical compositions and its use in patients across all therapeutic indications. Can-Fite is currently developing this invention for the treatment of sexual dysfunction with its next-generation drug, CF602.

Can-Fite plans to file an investigational new drug (IND) application with the US Food and Drug Administration for a phase I study of CF602 in the treatment of sexual dysfunction during the fourth quarter of 2016.

Preclinical studies in rats with diabetes mellitus show that CF602 has a mechanism of action similar to sildenafil (Viagra), with CF602 demonstrating effects on erection superior to that demonstrated by sildenafil in animal studies.

"We believe there is a clear and unmet need for a new sexual dysfunction drug that safely and more effectively treats erectile dysfunction in men with diabetes," stated Can-Fite CEO Dr. Pnina Fishman.

GlobalData estimates the value of the erectile dysfunction therapeutic market to be approximately $2.6 billion by 2018 with few drugs on the market which include Viagra, Cialis and Levitra. According to the American Diabetes Association, approximately 30 million Americans have diabetes mellitus in the US and 35-75 per cent of men with diabetes mellitus suffer from erectile dysfunction.