Killick Capital

Ottawa, Ontario/ May 29, 2007 – PharmaGap Inc. (TSX-V: GAP) (“PharmaGap” or “the Company”), a Canadian biotechnology company developing novel compounds to treat cancer, today announced results from a second phase of testing of the Company’s lead cancer drug, PhGalpha1, at Queen’s University (“Queen’s) in Ontario.

Data generated by Dr. Michael Adams in Queen’s Department of Pharmacology and Toxicology confirmed that the potency and duration of action of the Company’s lead drug, PhGalpha1, was significantly increased as a result of minor modification of  the drug’s molecular structure.  Similar to an earlier study at Queen’s completed in December 2006; this latest data affirms the potential of PhGalpha1 for use as a therapeutic agent in patients.

Dr. Adams, in commenting on these results, said: “These recent laboratory studies confirm that this modified version of PhGalpha1, an inhibitor of protein kinase C (PKC), has an extended effect when injected intravenously in animal models.  From my perspective as an experienced drug developer and pharmacologist, this data supports continued development of the PharmaGap compound.”

This latest study at Queen’s showing enhanced potency and duration of action with PhGalpha1 follows the recently announced data from Memorial Sloan-Kettering Cancer Center in New York City (“Memorial Sloan-Kettering”).  There, researchers led by Dr. Gary Schwartz showed that PhGalpha1 boosts the effect of a well-known chemotherapeutic agent in treating chemo-drug resistant cancers by approximately 50%.  

Robert McInnis, President and C.E.O. of PharmaGap, said:  “We are delighted that Dr. Adams’ studies show an improved effect for PhGalpha1 and that he remains committed to continue working with PharmaGap.  PharmaGap’s association with Queen’s, similar to our collaboration with researchers at Memorial Sloan-Kettering, is an important validation of our Company’s novel science and potential to introduce important new compounds to treat cancer.”

About Queen’s University
Queen’s University is located in Kingston, Ontario.  With 17 faculties and schools, approximately 20,000 students and 2,400 faculty members, Queen’s is one Canada’s leading research-intensive universities (www.queensu.ca).

About Dr. Michael Adams
Dr. Michael Adams, currently a Full Professor in the Department of Pharmacology and Toxicology, has cross-appointments in the Department of Urology and the School of Kinesiology and Health Studies.  He has had extensive involvement in research focused on the development of new therapeutic strategies in the prevention and treatment of cardiovascular diseases, sexual dysfunction, and cancer.  Dr. Adams has published more than 100 scientific papers and chapters and has nearly 30 issued patents worldwide, and 77 patent applications filed.  He has previously received the Basmajian Award for Excellence in Medical Research at Queen's University (1994), the Young Investigator Award of the Canadian Hypertension Society (1997) and the Education Award, Faculty of Health Sciences, Queen’s University (1998).  He was previously a Heart & Stroke Foundation Senior Research Scholar (1988-1993) and held a Career Award in Medicine from the Medical Research Council-Health Research Foundation/PMAC (1992-07). 

About PharmaGap Inc.
PharmaGap Inc. (TSX-V: GAP), based in Ottawa, ON, is a biotechnology company with a core focus on developing novel therapeutic compounds for the treatment of cancer. PharmaGap's research platform targets cellular signaling pathways controlled by protein kinase C (PKC) isoforms. PharmaGap's lead drug compound, PhGalpha1, is in preclinical development. The Company's strategy is to out-license drug compounds to larger life sciences companies at the preclinical stage. For more information please visit the Company's website at www.pharmagap.com.

Ottawa, Ontario/ May 16, 2007 – PharmaGap Inc. (TSX-V: GAP) (“PharmaGap” or “the Company”), a Canadian biotechnology company developing novel compounds to treat cancer, today announced results  from the initial phase of testing of the Company’s lead cancer drug, PhGalpha1, at Memorial Sloan-Kettering Cancer Center (“Memorial Sloan-Kettering”) in New York City.

In testing undertaken under the direction of Dr. Gary Schwartz at Memorial Sloan-Kettering,
PhGalpha1 was shown to increase the effect of a commonly used chemotherapeutic drug in killing cancer cells by approximately 50%. 

Dr. Schwartz, in commenting on these results, said: “These exciting laboratory studies show that PhGalpha1, an inhibitor of protein kinase C (PKC), enhances the effect of chemotherapy in human cancer cell lines. They provide a strong rationale for the further preclinical assessment of this agent at Memorial Sloan-Kettering, with the hope of translating these studies into human clinical trials.”                           

The cancer cell lines producing this result are known to be highly drug-resistant, requiring increasing doses of highly toxic chemotherapeutic agents during the course of treatment. Included in the study was colorectal cancer, the third leading cause of cancer deaths in North America. The ability to both improve the effectiveness of and reduce patients’ exposure to toxic chemotherapy regimes through the use of PhGalpha1, a drug acting on the cell’s signaling pathways, can have a major clinical impact when approved for human use.

The successful results obtained using PharmaGap’s cancer drug at Memorial Sloan-Kettering provide strong independent validation of the company’s science platform and lead drug potential for eventual human clinical use.
                        
Robert McInnis, President and C.E.O. of PharmaGap, said:  “We are thrilled to see these results achieved by Dr. Schwartz independently in his labs at Memorial Sloan-Kettering, which confirm and extend our previous results in both bench top and animal trials. We are delighted that Dr. Schwartz sees merit in our cancer program and that he has expressed interest in furthering the progress of PhGalpha1 towards human clinical trials. We also are fortunate to be able to add data produced in Dr. Schwartz’s lab to data produced in PharmaGap’s labs in order to further development of our pipeline of additional PKC inhibitor drugs. Testing of PhGalpha1 is continuing at Memorial Sloan-Kettering, with the scope and nature of the next phase of work currently under discussion.”

About Memorial Sloan-Kettering Cancer Center
Memorial Sloan-Kettering Cancer Center in New York City is the world’s oldest and largest institution devoted to prevention, patient care, research and education in cancer (www.mskcc.org).

About Dr. Gary Schwartz
Dr. Gary Schwartz, who leads the study program for PhGalpha1 at Memorial Sloan-Kettering, is an acknowledged leader in PKC cell signalling research in cancer treatment and has studied PKC inhibitors as potential cancer treatment for over 18 years. He has published numerous academic papers in the field and has been granted two U.S. patents on PKC inhibition for cancer treatment. Dr. Schwartz, Chief of Melanoma and Sarcoma Service for Memorial Sloan-Kettering’s Department of Medicine’s Division of Solid Tumor Oncology, is a medical oncologist specializing in the identification and development of new targeted drugs for cancer therapy, specifically aimed at understanding the mechanisms underlying the cell cycle and cell death, and the role that proteins, including protein kinases, play in these mechanisms. He is a Member and Attending Physician at Memorial Sloan-Kettering Cancer Center and Professor of Medicine at Weill Medical College of Cornell University in New York. He is a member of the American Society of Clinical Oncology’s (ASCO) Scientific Program and Cancer Education Committees and has served as the American Association of Cancer Researcher’s (AACR) co-Chairperson for the Program Committee on Translational Research in Molecular Biology. Dr. Schwartz is also an Editorial Board Member of the Journal of Clinical Oncology and an Associate Editor of Clinical Cancer Research.

About PharmaGap Inc.
PharmaGap Inc. (TSX-V: GAP), based in Ottawa, ON, is a biotechnology company with a core focus on developing novel therapeutic compounds for the treatment of cancer. PharmaGap's research platform targets cellular signaling pathways controlled by protein kinase C (PKC) isoforms. PharmaGap's lead drug compound, PhGalpha1, is in preclinical development. The Company's strategy is to out-license drug compounds to larger life sciences companies at the preclinical stage. For more information please visit the Company's website at www.pharmagap.com.

Ottawa, Ontario/ May 7, 2007 – PharmaGap Inc. (TSX-V: GAP) ("PharmaGap" or "the Company"), a Canadian biotechnology company developing novel compounds to treat cancer, today announced that it has received approval  from the TSX Venture Exchange ("TSX-V") for the investment by Dundee Securities Corporation ("Dundee") of $550,000 in equity securities.  The Company first announced the investment by Dundee on May 3, 2007.

Dundee has acquired 2,000,000 common equity units ("Units") and 2,400,000 Series I Preferred Shares ("Series I Shares") from the Company.  As a result of the issue the Company now has 21,374,620 common shares outstanding and 2,400,000 Series I Shares outstanding.  Dundee owns 9.4% of the common shares outstanding.  The securities issued (including the common shares, the warrants and the Series I Shares) will be subject to a hold period of at least four months and one day from May 4, 2007, pursuant to TSX-V policies and to Multilateral Instrument 45-102 – Resale of Securities. 

The Company is also offering by way of a private placement up to $1,950,000 of Units to accredited investors at the same price as were issued to Dundee.  The Units are being offered at $0.125 per Unit and consist of one common share and one warrant to acquire a common share for a two-year period at $0.165.  The sale of securities to accredited investors is set to close on or before June 4, 2007.  The Company has received TSX-V conditional acceptance for the purchase of the Units by accredited investors.

Pursuant to an agency agreement between the Company and Dundee, Dundee will be paid a commission of 10% of the aggregate gross proceeds of the private placement and will also receive broker’s warrants in an amount equal to 10% of the number of Units issued in the private placement.  The broker’s warrants have an exercise price of $0.165 per common share and a two-year term from date of issue.  In connection with today’s announcement, Dundee received a commission payment of $55,000 and 200,000 broker’s warrants, respectively.  A selling commission from Dundee is payable to other brokers with orders from accredited investors.

About PharmaGap Inc.
PharmaGap Inc. (TSX-V: GAP), based in Ottawa, ON, is a biotechnology company with a core focus on developing novel therapeutic compounds for the treatment of cancer. PharmaGap's research platform targets cellular signaling pathways controlled by Protein Kinase C (PKC) isoforms. PharmaGap's lead drug compound, PhGalpha1, is in preclinical development. The Company's strategy is to out-license drug compounds to larger life sciences companies at the preclinical stage. For more information please visit the Company's website at www.pharmagap.com.