PharmaGap To Expand Board, Add Experienced Clinical Development Executive
Ottawa, Ontario/ June 28, 2010 - PharmaGap Inc. (TSX-V: GAP; OTC.BB: PHRGF) ("PharmaGap" or "the Company") today announced the appointment of Mr. Ian Malone to its Board of Directors at the Company's Annual General Meeting in Ottawa. Mr. Malone has extensive finance and biotech industry experience and will bring key insights to the Board of PharmaGap as it proceeds toward clinical trials and out-licensing of its lead cancer drug GAP-107B8.
At the Annual General Meeting, in response to a question from a shareholder, Mr. Rod Bryden, Chairman of the Company, disclosed that the Company is looking to further expand its Board to add drug licensing experience. The Company also expects to appoint an experienced Executive to lead Clinical Development in the third quarter.
Mr. Bryden said "We are in the home stretch of bringing our lead drug to clinical trials. Recent test results have stimulated interest with potential licensees and highlighted the need for dedicated clinical development leadership to carry the final pre-clinical program to successful conclusion. We also recognize that a partnership with an established Pharma is the best path to bring this drug treatment to patients and to realize value for shareholders. Mr. Malone will add a new dimension to our Board and we will seek also to attract someone with drug licensing experience. This broadened Board and the addition of an experienced Vice President Clinical Development will position Pharmagap for the opportunities and challenges ahead".
The full presentation made at the Annual General Meeting may be downloaded at www.pharmagap.com.
About PharmaGap Inc.
PharmaGap Inc. (TSX-V: 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.
For information relating to this Release, please contact:
Robert McInnis, President & CEO
(613) 990-9551 [email protected]
Martin Tremblay
IR Consultant
(514) 351-3736 [email protected]
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.