PharmaGap Inc.
OTC Bulletin Board : PHRGF

PharmaGap Inc.

November 15, 2011 08:00 ET

PharmaGap Announces Start of Definitive Animal Efficacy Study Required to Proceed to Clinical Trials

OTTAWA, ONTARIO--(Marketwire - Nov. 15, 2011) - PharmaGap Inc. (TSX VENTURE:GAP)(OTCBB:PHRGF)("PharmaGap" or "the Company") today announced successful completion of a Maximum Tolerated Dose ("MTD") Study and commencement of an in vivo efficacy study using human ovarian cancer in validated mouse models. This in vivo test is the definitive efficacy test in animals required for GAP-107B8 prior to proceeding to clinical trials in humans. PharmaGap expects to announce completion of these tests on or about December 20th. Results of the tests will be announced when data compilation and analysis is completed, expected to be during January 2012.

Earlier studies in similar ovarian cancer mouse models using non-liposomal formulations of GAP-107B8 showed reduced tumour burden (19%) and a significant suppression of malignant ascites formation (73%). Malignant ascites is a significant cause of morbidity in women with ovarian cancer, and is also present in other forms of cancer as well as being associated with increased level of metastases of many cancers.

Since that result was produced, PharmaGap has successfully developed and tested liposomal formulations of its cancer drug GAP-107B8 in order to enhance efficacy at reduced dose levels.

The MTD study was designed to provide the final dose range for each of the four GAP-107B8 formulations that will be tested in the in vivo ovarian studies now underway.

The outcome of the current in vivo test will provide the Company with the basis for selection of one formulation of GAP-107B8 with which to proceed to cGMP manufacturing, GLP Toxicology studies required for clinical trial application, and the clinical trials themselves.

About PharmaGap Inc.

PharmaGap Inc. (TSX VENTURE:GAP), based in Ottawa, ON, is a biotechnology company with a core focus on developing novel peptide therapeutics for the treatment of cancer. PharmaGap's GAP-107B8 is a novel peptide drug that has been shown to be highly cytotoxic to numerous cancer types, including chemo-resistant cancers, in vitro. For more information on PharmaGap please visit the Company's website at

Forward Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectations of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues", and similar expressions. Although management believes that expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this news release, PharmaGap will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: results of ongoing product testing and development; regulatory approvals required to complete development of products; ability to manufacture product at quality and scale for human use on an economically sound basis; patient reimbursement by private and public health insurance programs; unintended side effects of products; competitive products; product liability; intellectual property; reliance on key personnel; risks of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; effect of market interest rates on price of securities, and potential dilution.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No Securities Commission or other regulatory authority having jurisdiction over PharmaGap has approved or disapproved of the information contained herein. This release contains forward looking statements that may not occur or may change materially.

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