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PharmaGap Updates Guidance On Anticipated Timing Of Results From Testing At National Cancer Institute

^{Published on 2009-08-06 06:38:40, Last Modified on 2009-08-06 06:38:47 - Market Wire}
 

 OTTAWA, Aug. 6 /CNW Telbec/ - PharmaGap Inc. (TSX-V: GAP) ("PharmaGap" or "the Company") today wishes to provide updated guidance to the market regarding the anticipated timing of receipt of test results from the National Cancer Institute ("NCI"). This morning, the Company announced test results of its lead cancer drug GAP107B8 (formerly PhG-alpha-1) at the Ottawa Hospital Research Institute ("OHRI"). The Company wishes to ensure that the market remains fully aware of the content and timing of its external testing program previously announced. Testing of GAP107B8 is also ongoing at the NCI in its 60 cell line human cancer tumor panel, and the Company is advised to expect test results within the next two weeks, which remains in accordance with expectations previously announced. Full results will be released to the public following a short period of analysis by Company scientists and advisors. While testing at OHRI was focused on ovarian cancer, the testing at the NCI is on a wide variety of human cancers, including breast, colorectal, lung, ovarian, kidney, prostate, leukemia and various central nervous system cancers and melanomas. About PharmaGap Inc. PharmaGap Inc. (TSX-V: 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 designed to inhibit the activity of protein kinase C ("PKC"), a cell signalling enzyme implicated in certain types and stages of cancer. Independent peer-reviewed research has demonstrated that the overexpression of PKC plays a role in the development of ovarian cancer. During 2009 the Company embarked on a program of independent validation of its drug compounds, resulting in testing at OHRI, the National Cancer Institute (results pending) and other independent laboratories. For more information on PharmaGap please visit the Company's website at [ www.pharmagap.com ]. Note: The TSX-Venture Exchange does not accept 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. 

For further information: relating to this Release, please contact: Robert McInnis, President & CEO, (613) 990-9551, [ bmcinnis@pharmagap.com ]