PharmaGap Files Provisional Patent Application for Liposomal Formulations of GAP-107B8

PharmaGap Inc. (TSX VENTURE:GAP)(OTCBB:PHRGF) ("PharmaGap" or "the Company") is pleased to announce that it has filed the second of two provisional patent applications with the United States Patent and Trademark Office ("USPTO") covering the results of development of PharmaGap's lead cancer drug GAP-107B8 during 2011 to date. These two provisional patent filings covering the GAP-107B8 formulations represent significant steps forward in the Company's ability to realize value from the Company's drug development program.

This filing, titled "Liposomal Formulations of Cationic Peptides and Uses Thereof" addresses the liposome formulations developed by PharmaGap as well as these liposomal formulations carrying the original or modified versions of GAP-107B8. Liposomes consist of one or more concentric lipid layers enclosing an internal aqueous volume and are unique in their ability to carry a variety of therapeutic compounds. The specific lipids used in constructing the liposome can be selected to facilitate interaction with the drug cargo and/or with the target cell, making these systems extremely versatile drug delivery systems.

The successful development of these liposomal formulations of original and modified GAP-107B8 has significantly widened the GAP-107B8 Therapeutic Window (the range of doses between the lowest effective dose and the highest dose where unacceptable toxicity becomes evident), a key consideration for effective clinical trial design and ultimate success of the drug in the marketplace.

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.

Contacts: PharmaGap Inc. Robert McInnis President & CEO 613-990-9551bmcinnis@pharmagap.com

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