Isolated polypeptides of CD44 are provided. Accordingly, there is provided an isolated polypeptide consisting of an amino acid sequence selected from the group consisting of SEQ ID NOs: 1-3. Also provided is an isolated end-capping modified polypeptide comprising an amino acid sequence selected from the group consisting of SEQ ID NO: 1-3, wherein the modified polypeptide comprises an anti-inflammatory activity. Also provided are compositions of matter, fusion proteins and pharmaceutical compositions and their use in the treatment of inflammatory disease.