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Ottawa, Ontario/April 24, 2008 – PharmaGap Inc. (TSX-V: GAP) (“PharmaGap” or “the Company”) announced today successful in vitro or “bench” testing of a new compound designed to be a selective inhibitor of Protein Kinase C Theta (“PKC theta”) showing indication of selectivity to and inhibition of PKC theta. This new compound follows on the successful completion of the research and development phase of preclinical testing for the Company’s selective inhibitor of PKC alpha, PhG-alpha-1, announced last week.

PKC theta was selected as the target for the Company’s next compound on the basis of interest expressed by Dr. Gary Schwartz of Memorial Sloan-Kettering Cancer Institute (“Sloan-Kettering”) of New York in working with the Company to develop a selective inhibitor of PKC theta for use in treatment of sarcomas, cancers of supportive and connective tissue (i.e. bone, cartilage, fat, muscle and blood vessels). Dr. Schwartz is chief of Sloan Kettering’s Melanoma and Sarcoma service. In vitro testing of the new PKC theta inhibitor will continue at PharmaGap and in Dr. Schwartz’s laboratories at Sloan-Kettering.

Said Sloan-Kettering’s Dr. Schwartz “I look forward to continuing my collaboration with PharmaGap for this exciting new compound, as it holds the promise of new treatment alternatives in the future for sarcoma patients. Selectively targeting PKC theta may provide therapeutic benefits not provided by current treatments.”

This initial positive in vitro test result for the new PKC theta inhibitor also demonstrates the Company’s ability to apply its knowledge base and proprietary techniques to develop a rich pipeline of peptide drug compounds targeting the PKC family of proteins. Proprietary analytical tools provide the Company with the ability to design and test drug designs inside the computer, allowing for the optimization of the compound design prior to synthesis and commencement of laboratory testing.

From its inception the Company has undertaken the scientific research and development work required to understand the many ways in which the 11 unique isoforms making up the family of proteins named Protein Kinase C act within the human body in relation to human diseases. PharmaGap has developed proprietary computer-based methodologies that provide the ability to design selective inhibitors for PKC isoforms. The importance of the PKC family is well known in the medical and pharmaceutical industry and has been and continues to be the subject of significant preclinical and clinical research.

PKCs are associated with a range of human disease conditions, including not only cancer, but also metabolic diseases such as diabetes (PKC beta, epsilon), cardiac disease (PKC delta), Alzheimer’s (PKC epsilon), and neurological disease (PKC gamma). In addition to its compounds targeting PKC alpha and theta, PharmaGap has designed, and is currently optimizing prior to synthesis and testing, an inhibitor for PKC epsilon.

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.

For information relating to this release, please contact:
Robert McInnis, President & CEO
(613) 990-9551 bmcinnis@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