09.06.2006

PharmaGap announces completion of patent filings for lead drug; focus on next stage development work toward clinical trials of PhGalpha1

Ottawa, Ontario/September 6, 2006 – PharmaGap Inc. (TSX-V: GAP) (“PharmaGap” or “the Company”) announced today that it has filed the second and third of three Patent Cooperation Treaty (“PCT”) applications, completing the suite of patent filings for the Company’s lead drug compound PhGalpha1, a therapeutic compound for the treatment of cancer.  The three separate filings provide the Company with the basis for flexibility in future licensing arrangements by maintaining the ability to license the complete drug compound or individual components of the technology.

These filings represent the culmination of over 9 months of exhaustive testing and analysis of results by the Company’s scientific team, and form the basis for examination by patent examiners in each jurisdiction. The review process is expected to extend through 2007 and into 2008, following which, if successful in supporting the claims, the Company will be granted letters patent for this technology.

These filings represent the completion of the research and development work on the Company’s lead drug compound that has been the focus of the Company’s science team, led by Dr. Jenny Phipps, since its inception. The Company is now applying all of its resources to “fast-track” the acquisition of data, both from internal and external efforts, to support the filing in early 2008 of an application for human clinical testing. Data produced will also be used support the technology licensing initiative currently underway with Dundee Securities Corporation and Wellington West Capital Inc.

These 3 PCT filings represent PharmaGap’s core drug technology and form the basis of the Company’s intellectual property. Additional filings will be made to expand this protection as the technology is applied to generate selective inhibitors of the remaining Protein Kinase C isoforms (12 in all) by which PKC isoforms may be selected and inhibited as their implication in specific health conditions is determined and for which there is a significant market demand. This capability to design and develop selective inhibitors for the additional isoforms of PKC is the basis for the Company’s pipeline development compounds.

An increasing amount of this future testing and development work will be carried out by or in conjunction with third party laboratories and cancer centers, in order to add specific technical and drug development capabilities required to continue advancement of the compound toward clinical trials. The ability to leverage the Company’s expertise and technology by working with external agencies is hoped to greatly enhance and accelerate the pace of advancement toward clinical trials.

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 signalling pathways controlled by Protein Kinase C (PKC) isoforms. PharmaGap's lead drug compound, PhGalpha1, is in preclinical development and targets PKC-alpha. The Company's strategy is to out-license drug compounds to larger life sciences companies at the preclinical stage. For more information on PharmaGap 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.