PharmaGap Inc.
TSX VENTURE : GAP
OTC Bulletin Board : PHRGF

PharmaGap Inc.

May 04, 2011 08:31 ET

PharmaGap Reports Significant Progress in Development of Liposomal Formulations of Cancer Drug GAP-107B8

OTTAWA, ONTARIO--(Marketwire - May 4, 2011) - PharmaGap Inc. (TSX VENTURE:GAP)(OTCBB:PHRGF) ("PharmaGap" or "the Company") today reports significant progress in development and initial testing of a liposomal delivery formulation for PharmaGap's lead cancer drug GAP-107B8 for therapeutic use in humans. The development work has identified methods for encapsulating GAP-107B8 with efficiencies on the order of 90 to 100 percent, yielding liposomes of the desired particulate size for clinical use in humans.

A physiologically compatible buffer has been identified, and practical methods for concentration and sterile filtration of the preferred liposomal formulations have been developed. The sterile filtration process represents the final process step (from a technical perspective) which would be required prior to vialing product for clinical trial use.

PharmaGap has received liposomal formulations including both empty liposomes to be used as experimental controls, and liposomes loaded with PharmaGap's GAP-107B8. Internal in vitro cell proliferation assays with the unloaded control liposomes have been completed across cancer cell lines (including several ovarian and bladder cancer cell lines) to ensure optimal dosing strategies for peptide loaded liposomes. Results from in vitro cell proliferation studies with GAP-107B8 loaded liposomes from the first set of prototypes are expected around the end of May. Prototype designs have been advanced based on their expected utility for topical delivery by intravesical infusion to the bladder wall; topical delivery by intraperitoneal injection for ovarian cancer; and by intravenous injection for solid tumours

Liposomes are microscopic carriers with an aqueous core surrounded by one or more outer lipid layers, and release their contents by interacting with the targeted cells through adsorption, endocytosis, lipid exchange, or fusion. Liposomal delivery is a means to modify the pharmacokinetic and pharmacodynamic properties of drugs with the objective of increasing efficacy and mitigating any potential side effects of drugs by enabling the delivery and targeting of the drug to the target site.

Liposomal delivery systems are an accepted, proven, and commercially viable strategy for the formulation of pharmaceuticals for clinical use. These lipid-based delivery systems are employed to improve tumour targeting, modulate the pharmacokinetics of the active agent and enhance its stability following administration. Therapeutic activity may be improved by modulating drug exposure and accumulation (controlled release) in the region where the target cancer cells are located

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 www.pharmagap.com.

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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