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

PharmaGap Inc.

April 18, 2011 08:01 ET

PharmaGap Sees Positive Results from In Vivo Ovarian Cancer Models at the Ottawa Hospital Research Institute

OTTAWA, ONTARIO--(Marketwire - April 18, 2011) - PharmaGap Inc. (TSX VENTURE:GAP)(OTCBB:PHRGF) ("PharmaGap" or "the Company") today announced initial results from preclinical testing at the Ottawa Hospital Research Institute ("OHRI"). Initial results from this study are positive and provide evidence that a peptide formulation of PharmaGap's lead cancer drug GAP-107B8 administered via the intraperitoneal route can reduce tumour burden (19%) and significantly suppress ascites formation (73%) relative to controls. The test was undertaken at OHRI in collaboration with Dr. Barbara Vanderhyden.

Dr. Vanderhyden, upon initial review of the data commented "The reduction in ascites volume is very interesting in its own right, because this is a notable cause of morbidity in women with ovarian cancer. There is currently no drug therapy that is effective against ovarian cancer-associated ascites accumulation. Paracentesis, the removal of abdominal ascites, is commonly used to alleviate symptoms and prolong survival of women with ovarian cancer. The presence of ascites in ovarian cancer has been reported to be an indicator of poor prognosis for survival and correlates with a significantly decreased 5-year survival rate (5% with ascites vs. 45% without ascites) among women with stage III or IV epithelial ovarian carcinoma."

The efficacy screening study was conducted over 2 weeks with twice daily dosing. With respect to this schedule the maximum tolerated dose as predetermined from a preliminary in-vivo study for each formulation (20 and 40 mg/Kg respectively) was administered.

In this study two formulations of GAP-107B8 peptides were tested in an established intraperitoneal xenograft model in immune-deficient mice and evaluated for tumour burden and accumulation of malignant ascites (excess fluid containing cancer cells in the abdominal cavity). The cell line selected for testing (OCC-1 human ovarian cancer) is of a phenotype characterized by the production of peritoneal ascites with growth of multiple small solid tumours.

Dr. Ken Sokoll, PharmaGap's Vice President of Clinical Development and Chief Operating officer stated "We are continuing the analysis of this data along with Dr. Vanderhyden's group and will provide additional details as they become apparent. This work has provided key information on preferred GAP-107B8 peptide formulations, relevant to our ongoing clinical development and peptide-based formulation program. Future efficacy studies to be conducted in the ovarian cancer model will include more broad-based screenings with liposomal formulations in order to determine if these initial positive findings can be improved further and reproduced in other ascites-producing cell lines. It is noteworthy that ascites formation is not unique to ovarian cancer, and a high incidence has been reported in other cancer types, including endometrial, breast, colon, stomach and pancreatic cancers."

About OHRI and Dr. Barbara Vanderhyden

The Ottawa Hospital Research Institute (OHRI) is the research arm of The Ottawa Hospital and is an affiliated institute of the University of Ottawa, closely associated with the University's Faculties of Medicine and Health Sciences. The OHRI includes more than 1,500 scientists, clinical investigators, graduate students, postdoctoral fellows and staff conducting research to improve the understanding, prevention, diagnosis and treatment of human disease. www.ohri.ca

Dr. Vanderhyden is a Senior Scientist, Cancer Therapeutics at the Ottawa Hospital Research Institute and a Professor in the Departments of Cellular & Molecular Medicine and Obstetrics & Gynecology at the University of Ottawa. She holds the Corinne Boyer Chair in Ovarian Cancer Research. She has published over 60 peer-reviewed journal papers primarily in the area of ovarian cancer and collaborates extensively with many pharmaceutical and biotechnology companies focused on the development of therapies for ovarian cancer.

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.

Note: 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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