Exhibit 99.1

Can-Fite’s NASH Indication Highlighted in Webinar by KOL Dr. Harrison: “Namodenoson May Have Big Impact on NASH”

PETACH TIKVA, Israel, January 28, 2021 -- Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE:CFBI), a biotechnology company advancing a pipeline of proprietary small molecule drugs that address inflammatory, cancer and liver diseases, today published a webinar on Namodenoson in the treatment of NASH hosted by Can-Fite CEO Dr. Pnina Fishman and featuring Dr. Stephen Harrison, a Key Opinion Leader (KOL) in the treatment of non-alcoholic steatohepatitis (NASH). Can-Fite’s drug candidate Namodenoson completed a successful Phase II study in the treatment of non-alcoholic fatty liver disease (NAFLD)/NASH which met its endpoints. The Company is currently preparing a Phase IIb study for Namodenoson in the treatment of NASH, the protocol for which has been designed by Dr. Harrison and other KOLs. To view the webinar, please visit: https://vimeo.com/505573891.

During the webinar, Dr. Harrison commented on Namodenoson’s potential to treat NASH, stating, “We see via its mechanism of action (MOA) and preclinical models, as well as the positive impact across a broad range of noninvasive tests from the proof of concept Phase IIa trial that this drug candidate has the potential to have a significant impact on fatty liver disease.”

Dr. Harrison went on to indicate that future trials of Namodenoson in the treatment of NASH would target the population at greatest risk, those with some degree of fibrosis. He commented that the U.S. Food and Drug Administration and the European Medicines Agency have given clear criteria for accelerated or conditional approval of a drug which can show either: NASH resolution without worsening of fibrosis, or fibrosis improvement without worsening of NASH.

Dr. Harrison is Medical Director of Pinnacle Clinical Research, a gastroenterologist, and hepatologist specializing in metabolic liver disease. He served as a Professor of Medicine at the Uniformed Services University of the Health Sciences and is currently a Visiting Professor of Hepatology at Radcliffe Department of Medicine, University of Oxford. Dr. Harrison is a past Associate Editor for both Hepatology and Alimentary Pharmacology and Therapeutics. He is internationally known for studies in NAFLD/NASH with over 200 peer reviewed publications. Dr. Harrison previously served as a Colonel in the United States Army. Retiring in 2016, he concluded more than 20 years of dedicated service to his country. During his army tenure, he served as the Director of Graduate Medical Education at Brooke Army Medical Center, Associate Dean for the San Antonio Uniformed Services Health Education Consortium and Gastroenterology Consortium, and Gastroenterology Consultant to the Army Surgeon General.

About Can-Fite BioPharma Ltd.

Can-Fite BioPharma Ltd. (NYSE American: CANF) (TASE: CFBI) is an advanced clinical stage drug development Company with a platform technology that is designed to address multi-billion dollar markets in the treatment of cancer, liver, inflammatory disease and COVID-19. The Company's lead drug candidate, Piclidenoson, is currently in a Phase III trial for psoriasis and a Phase II study in the treatment of moderate COVID-19. Can-Fite's liver drug, Namodenoson, is headed into a Phase III trial for hepatocellular carcinoma (HCC), the most common form of liver cancer, and successfully achieved its primary endpoint in a Phase II trial for the treatment of non-alcoholic steatohepatitis (NASH). Namodenoson has been granted Orphan Drug Designation in the U.S. and Europe and Fast Track Designation as a second line treatment for HCC by the U.S. Food and Drug Administration. Namodenoson has also shown proof of concept to potentially treat other cancers including colon, prostate, and melanoma. CF602, the Company's third drug candidate, has shown efficacy in the treatment of erectile dysfunction. These drugs have an excellent safety profile with experience in over 1,500 patients in clinical studies to date. For more information please visit: www.can-fite.com.

Forward-Looking Statements

This press release may contain forward-looking statements, about Can-Fite’s expectations, beliefs or intentions regarding, among other things, market risks and uncertainties, its product development efforts, business, financial condition, results of operations, strategies or prospects. In addition, from time to time, Can-Fite or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as “believe,” “expect,” “intend,” “plan,” “may,” “should” or “anticipate” or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by Can-Fite with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of Can-Fite’s authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause Can-Fite’s actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause Can-Fite’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: our history of losses and needs for additional capital to fund our operations and our inability to obtain additional capital on acceptable terms, or at all; uncertainties of cash flows and inability to meet working capital needs; the impact of the COVID-19 pandemic; the initiation, timing, progress and results of our preclinical studies, clinical trials and other product candidate development efforts; our ability to advance our product candidates into clinical trials or to successfully complete our preclinical studies or clinical trials; our receipt of regulatory approvals for our product candidates, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of our product candidates; our ability to establish and maintain strategic partnerships and other corporate collaborations; the implementation of our business model and strategic plans for our business and product candidates; the scope of protection we are able to establish and maintain for intellectual property rights covering our product candidates and our ability to operate our business without infringing the intellectual property rights of others; competitive companies, technologies and our industry; statements as to the impact of the political and security situation in Israel on our business; and risks and other risk factors detailed in Can-Fite’s filings with the SEC and in its periodic filings with the TASE. In addition, Can-Fite operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. Can-Fite does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact

Can-Fite BioPharma

 Motti Farbstein

 info@canfite.com

 +972-3-9241114