PharmaGap Inc. Appoints Dr. Ken Sokoll to Lead Cancer Drug Program to Clinical Trials

OTTAWA, ONTARIO--(Marketwire - July 29, 2010) - PharmaGap Inc. (TSX VENTURE: GAP)(OTCBB: PHRGF) (“PharmaGap” or “the Company”) is pleased to announce the appointment of Dr. Ken Sokoll to the position of Vice President Clinical Development and Chief Operating Officer. Dr.Sokoll has undertaken a complete review of the Company’s lead drug GAP-107B8 development program and following this review he has accepted this newly-created position in order to take GAP-107B8 to clinical trials.

The appointment will become effective on September 1, 2010. Dr. Sokoll will direct the Company’s drug program as a consultant until that time.

Dr. Sokoll commented “I see great promise in GAP-107B8, based on the positive, independently validated results seen to date, and I am pleased to be able to take charge of the program to take this drug to human trials. The Company has excellent science and an established group of clinical advisors and collaborators that will continue to be a key to our success. Discovery and proof of concept has been successful and I am looking forward to working with this team to produce a successful drug for human use.”

The focus of the Company’s drug program now turns from the discovery and proof of concept phase to activities focused on optimizing the formulation and bioavailability of GAP-107B8 in specified cancers using clinical delivery mechanisms; establishing the formal safety profile data required to gain approval for human use; developing large scale manufacturing methods; and building the data dossier required for gaining approval for use in humans.

These are also the key factors that determine interest and price for licensing agreements with major pharmas. Results of these individual program activities and overall progress to clinical trials will be announced as the program proceeds. The Company has testing programs underway that are designed to provide additional demonstration of GAP-107B8’s efficacy, its safety profile, and its mechanism of action. All of these have been requested in discussions with potential licensing partners. These studies will be announced as results are available. Individual results will be of interest but it is the package of data arising from the group of tests that will be of significance. Results of one of these tests will be announced within the next few days.

Robert McInnis, President of the Company, stated “I am thrilled to have a drug development executive with Dr. Sokoll’s experience and expertise leading our program to clinical trials. With his leadership, I anticipate being able to generate the data required to demonstrate our continued progress in order to develop solid interest in the pharma licensing community for GAP-107B8 between now and the start of clinical trials. We will of course continue on our business model to take drugs into Phase I/II clinical trials on our own, at the same time being receptive to earlier opportunities with pharma so long as valuation targets are achieved.”

About Dr. Ken Sokoll

Dr. Sokoll has deep experience in the clinical development of pharmaceuticals and vaccines. His work has been published in multiple peer reviewed publications and he holds a number of patents in the drug formulation and delivery area. In addition, Dr. Sokoll has received prestigious awards and scholarships and has been the principal investigator (P.I.) or co-P.I. on several grants for his work in life sciences, including a Marie Curie Fellowship grant and NIH/SBIR development contracts. Dr. Sokoll has served as the Vice President for Drug Development with Milestone Pharmaceuticals Inc., an early stage company developing drugs for cardiovascular indications and Liponex Inc., a company developing drugs for the treatment of dyslipidemia and related disorders. Prior to this Dr. Sokoll served as the Vice President for Vaccine Product Development with United Biomedical Inc., a manufacturer of vaccine and diagnostic products located on Long Island, New York and in several management roles with Aventis-Pasteur (now known as Sanofi-Pasteur), a worldwide leader in the development of vaccines. Dr. Sokoll’s work at Aventis-Pasteur was within the formulation and adjuvant development group in France and in Canada.

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.

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.