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Can-Fite unit hires Nobel Laureate as director

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Tuesday, February 28th, 2012

As reported by IVC:

Prof. Roger Kornberg won the 2006 Nobel Prize in Chemistry for his work on the mechanism of eukaryotic gene transcription

Can-Fite BioPharma Ltd. (TASE:CFBI) subsidiary OpththaliX Inc. (Bulletin Board: OPLI) has appointed Nobel Prize Laureate in Chemistry Prof. Roger Kornberg to its board of directors.

Prof. Kornberg won the Nobel Prize in 2006 for his work on the mechanism and regulation of eukaryotic gene transcription. He serves as Winzer Professor in Medicine in the Department of Structural Biology at Stanford University. He was elected to the National Academy of Sciences in 1993, and his awards also include the Welch Prize in 2001, the highest award in chemistry in the US, and the Leopold Mayer Prize in 2002, the highest award in biomedical sciences of the French Academy of Sciences.

Kornberg also serves on the boards of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) and Protalix Biotherapeutics Inc. (AMEX:PLX; TASE: PLX).

Can-Fite CEO Prof. Pnina Fishman said, “We are very pleased that Prof. Kornberg has agreed to join our Board. His outstanding scientific achievements and his experience serving on boards of leading pharmaceutical and biotechnology companies will be extremely valuable as we progress with our advanced clinical development programs.”

Last year, Can-Fite spun off its ophthalmic drug development operations, and acquired a US stock market shell, Denali Concrete Management for this purpose. It later changed Denali’s name to OpththaliX.

Can-Fite’s share price rose 2% in morning trading today to NIS 0.47, giving a market cap of NIS 121 million. OpththaliX’s share closed at $2.25 in New York yesterday.