Morningside Sets Up China Cancer JV with Can-Fite

Morningside Asia Venture, the Hong Kong venture capital firm, signed a memorandum of understanding to establish a China joint venture with Can-Fite BioPharma, an Israeli company. Morningside will pay $7.5 million to Can-Fite for the China rights to CF102, a drug being developed to fight liver cancer. The money will underwrite all expenses of the JV through Phase II clinical trials. More details... Stock Symbol: (TASE: CFBI)