PharmaGap Provides Guidance on Cancer Drug Testing Timetable

Ottawa, Ontario/July 17, 2009 � PharmaGap Inc. (TSX-V: GAP) (�PharmaGap� or �the Company�) today provides updated guidance on anticipated timing of receipt of test results from the previously announced testing initiatives for its lead cancer drug, PhG-alpha-1, at the U.S. National Cancer Institute (�NCI�) and the Ottawa Hospital Research Institute (�OHRI�).

Results from these tests will be announced once received and have been fully analyzed and understood by the Company�s scientific team and outside drug development advisors. The Company has been informed by the OHRI that initial results from the OHRI test program, being the effect of PhG-alpha-1 at a range of dose concentrations on the growth rate of ovarian cancer cells are expected in or prior to the first week of August 2009, following completion of a full statistical analysis.

Additionally, the Company is advised by the OHRI that the second phase of the test program, which will evaluate the effect of PhG-alpha-1 on cell invasion and mobility in a number of different ovarian cancer cell lines, is about to commence. The Company now anticipates that results of testing of PhG-alpha-1 at the NCI using the NCI-60 cancer cell line panel will be received by the Company in mid August 2009. The NCI-60 protocol tests a wide variety of cancers, including breast, colorectal, lung, ovarian, kidney, prostate, leukemia and various central nervous system cancers and melanomas.

The Company will provide updates and release of all material test results as soon as possible following receipt of test data and analysis by Company scientists and the Clinical Advisory Group.

About The National Cancer Institute The National Cancer Institute is an institute of the National Institutes of Health, the primary U.S. Federal Agency for conducting and supporting medical research. The NCI�s mandate is to conduct and foster cancer research in the United States, and is located in Bethesda, Maryland. For more information please visit www.cancer.gov.

About the Ottawa Hospital Research Institute The OHRI is the research arm of The Ottawa Hospital and is an affiliated institute of the University of Ottawa. The OHRI is one of the largest hospital-based research institutes in Canada, with more than 1,400 researchers, trainees and support staff, $90 million in funding and thousands of patients involved in over 600 ongoing clinical research studies. For more information please visit www.ohri.ca.

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, PhG-alpha-1, is in preclinical development. The Company's strategy is to out-license drug compounds to larger life sciences companies at the preclinical stage.