PharmaGap fka GAP

[Tackler]

plus at least another 10 million by other insiders

http://investorshub.advfn.com/boards/read_msg.asp?message_id=19448169

so 50.5/78.5 = 64% insider ownership!

[Rocketred]

weeeeeeeeeeeeeeeee 51% controled

[Tackler]

How can this keep going up?

51.4% of the company is controlled by the chairman Roderick M. Bryden.

Following conversion of all outstanding debentures held by Stormont (but excluding debentures held by arm's-length parties), including accrued interest to April 4, 2008, and exercise of all attached warrants, Stormont would hold 40,379,085 of 63,823,843 common shares outstanding, representing a 63.27-per-cent interest (51.4 per cent on a fully diluted basis). Stormont is controlled by Roderick M. Bryden, chairman of PharmaGap.

Everything is in the money now so completely and fully diluted: 40,379,085/.514 = 78,558,531 shares

[Rocketred]

3 auntie's gone from cancer in my dads family but no uncle's out of 11 kids

[Tackler]

but this is one stock i hope is a bulls eye not just for my benefit but also who hasnt lost someone to cancer?

[Rocketred]

Got so many plates which one to pick lmao

[Tackler]

PharmaGap Inc. is a biotechnology company with a core focus designing and developing novel
therapeutic drugs for the treatment of cancer and other human diseases associated with the human
Protein Kinase C enzyme (“PKC”). Founded in 1999, the Company is a spin-off from Canada’s preeminent
biological research organization, the National Research Council (NRC).
Using its proprietary drug development platform, the Company is developing a pipeline of novel
compounds targeting PKC. PKC is often expressed in abnormal levels in many types of cancer and other
diseases, such as diabetes.
PharmaGap’s lead drug compound, PhGα1, is currently in the pre-clinical testing stage and has shown in
vitro and in vivo efficacy in selected cancer types. The Company is actively seeking capital and seeking a
business collaboration with other companies in the business of pharmaceutical development, including
licensing arrangements and other business arrangements including but not limited to a sale of the
Company or its assets, merger, or joint ventures.
The Company’s business strategy is to license its drug compounds to third parties for completion of
human trials and subsequent commercialization in return for initial license payments, milestone payments
as the compounds progress through clinical trials, and, in the event the compound reaches the point of
clinical sales, royalties on sales of the compound. There is no assurance as to the realization, form or
size of any of these potential payments in the future.

[Tackler]

Ahhh let me see, oh my, looks like my wife gets a new vehicle to go with this plate...

[Rocketred]

Sounds like they have a deal to me after this news

[Rocketred]

make money today?

[Rocketred]

NASQ stock would be rolling in the dollars not pennies on a Cancer break though

[Rocketred]

triple post

[Rocketred]

double post

[Tackler]

lol you mean a pink sheet pos with news like this would be sitting above a $15M market cap?

[Rocketred]

100 buks CANCER KILLER in USA it would be SMOKIN HOT

[Rocketred]

Sounds like they already were told to do the trails and if good will come marching in

[Tackler]

no volume all year as holders were waiting for the big score!

[Tackler]

yup there will be some meetings if not already

[Rocketred]

requested by potential licensing and development partners.

[Tackler]

PharmaGap finds PhG-alpha-1 cancer drug effective

2008-04-17 07:35 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP DRUG EFFECTIVE AGAINST BREAST AND COLON CANCER

PharmaGap Inc. has released the results of animal studies indicating statistically significant effectiveness of its lead cancer drug, PhG-alpha-1, in treating human breast and colon cancer.

Five separate test models, with a total of 240 mice, having previously been implanted with either human breast or colon cancer, were treated with PhG-alpha-1 at three doses, both singly and in combination with chemotherapeutic agents, or received saline solution or the chemotherapeutic agent alone as test controls.

In two of the test groups, one breast and one colon, the human cancer cells were implanted intravenously (breast) or intraperitoneally (colon), in order to simulate the natural metastases or spreading of the cancer cells within the body from one host organ to another. At the completion of a seven-day period during which the cancer cell types used are known to establish tumours, the treatment regime began.

In three of the test groups, one breast and two different colon cell types, the human cancer cells were implanted subcutaneously. Once one or more palpable tumours were established, treatment began on a mouse by mouse basis, according to its assigned treatment group.

Breast cancer metastatic model

In this model, human breast cancer of the type Estrogen Receptor negative, which as a group represents the 30 per cent of breast cancers which are not currently treatable by available drug therapies, were implanted into the bloodstream and provided with a seven-day period to allow tumours to form. The type of cancer cells implanted is known to be highly invasive to the lungs, within a three- to five-day period following implantation. Following this establishment period of seven days, the treatment regime began in the eight groups of five mice.

In the group of five mice receiving PhG-alpha-1 at the dose of one milligram per kilogram of body weight, four of five (80 per cent) when euthanized at the end of the trial period were observed to be tumour-free on postmortem examination, with no effect on other organs. The remaining mouse had developed a single small, friable (easily broken down) tumour. In the two control groups (saline and chemotherapy alone), nine of 10 (90 per cent) developed tumours, with only one surviving to the end of the trial and with ancillary organ damage to some degree. For all other treatment groups, 22 of 25 (88 per cent) developed tumours, and none survived to the end of the trial, again exhibiting ancillary organ damage.

Breast cancer subcutaneous model

Using the same human breast cancer type, cancer cells were implanted beneath the skin and provided time to develop palpable tumours, following which treatment began.

In both single and combination therapy with a low dose of conventional chemotherapy agent, PhG-alpha-1 at one mg/kg body weight extended mouse survival relative to controls. In the cohorts receiving the combination treatment, the five and 10 mg/kg dosages showed however a longer extension of survival. More significantly, the cohorts receiving PhG-alpha-1 at each of the three dosing levels in the combination treatment showed a clear reduction in tumour volume compared with the cohort receiving chemotherapy alone, with a statistically significant dose response. The overall reduction in tumour volume compared with the control group receiving chemotherapy alone was approximately 58.7 per cent.

Colon cancer metastatic model

Human colon cancer cells, type LS180, known to be highly metastatic following implantation in the peritoneal cavity (the space containing the intestines, stomach and liver), were provided with a period of seven days in order to establish metastatic tumours on the liver, spleen and other sites within the cavity. PhG-alpha-1 was administered intraperitoneally at three doses (one, five and 10 mg/kg body weight), alone and in combination with a conventional chemotherapeutic agent at subtherapeutic dose, over up to a 98-day period. In the group receiving PhG-alpha-1 alone at the 10 mg/kg dose, an improvement in survival relative to the control group was observed from day 50 to 80. In the group receiving PhG-alpha-1 at 10 mg/kg in combination with chemotherapy, survival relative to the group receiving chemotherapy alone was evident throughout the test period.

Overall tumour incidence was 46 per cent in the groups receiving PhG-alpha-1 alone, at all dosages, compared with 80 per cent in the saline control group, and was 60 per cent in groups receiving PhG-alpha-1 in combination therapy, compared with 100 per cent for the chemotherapy control.

Measurement of VEGF serum levels (vascular endothelial growth factor, an angiogenic (growth of blood vessels) agent increasing tumour malignancy) confirmed earlier results showing reduction in VEGF levels following treatment with PhG-alpha-1.

Additional models

Analysis of data from two additional models using two different human colon cancer cell lines continues and results will be announced as they become available over the course of the next few weeks. Previous tests showed the drug's effectiveness in delaying the ability of human cancer cells to form tumours in mice, when administration of PhG-alpha-1 alone or in combination with chemotherapeutic agents began immediately following the introduction of the cancer cells to the mouse test subject. The current round of testing just completed -- known as an established tumour study (ETS) -- mimics the therapeutic treatment regime found in clinical treatment of humans, in that the drug treatment regimen is commenced only after tumours are allowed to develop without treatment.

These test results provide positive indication that PhG-alpha-1 has the ability to be developed into an effective agent against cancer in test models designed to mimic real world therapy regimes encountered in clinical treatment of humans.

[Tackler]

KABOOOOOOOOOOMMMMMMMMMMMMMMM!!!!!!!!!!!!!!!

[Tackler]

PharmaGap completes $1-million financing

2007-06-15 07:36 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP COMPLETES SALE OF EQUITY UNITS

PharmaGap Inc. has closed the issuance of equity securities to accredited investors in Canada for total proceeds of $1,000,450.

Robert McInnis, president and chief executive officer of the company, commented: "We are delighted that the markets see the potential in our company and cancer drug technology, as evidenced by our ability to complete this issuance of just over $1-million. We are applying these funds to proceed with additional animal trials of our lead cancer drug PhGalpha1, additional testing of the drug at Memorial Sloan Kettering Cancer Centre, and to working capital requirements. This next round of testing of the drug in animals, anticipated to commence in July, 2007, is designed to produce data requested by potential development and licensing partners in the pharmaceutical industry. Based on all testing and development work already completed, our scientific team is confident that PhGalpha1 will continue to demonstrate performance as designed."

Investors purchased a total of 5,603,000 common equity units from the company at a price of 12.5 cents per unit, in two separate closings on May 4, 2007 (two million units), and June 14, 2007 (3,603,000 units). Each unit consists of one common share and one warrant to acquire a common share for a two-year period at an exercise price of 16.5 cents per common share. The common shares and warrants issued will be subject to a hold period until Sept. 5, 2007, and Oct. 15, 2007, respectively, pursuant to TSX Venture Exchange policies and to Multilateral Instrument 45-102. On May 4, 2007, the company also closed the issuance of 2.4 million Series I preferred shares, as part of the same offering. The Series I shares are priced at 12.5 cents per Series I share and are convertible at the request of the holder into units on a one for one basis at no further cost. The Series I shares carry no fixed dividend and have no priority on liquidation. Series I shareholders are eligible to vote in all votes of common shareholders to the extent of one vote for every 100 Series I shares held, and are subject to a voting agreement that directs Series I share votes to be cast in favour of the majority of the common shares voted. As a result of the issue, the company now has 24,978,220 common shares and 2.4 million Series 1 shares outstanding.

Pursuant to an agency agreement between the company, Dundee Securities Corp. and Wellington West Capital Inc., the agents are paid a commission of $55,000 (Dundee) and $26,850 (Wellington) and will also receive 200,000 broker's warrants (Dundee) and 214,800 broker's warrants (Wellington), respectively. The broker's warrants have an exercise price of 16.5 cents per common share and a two-year term from date of issue of the units placed by the respective agent. The company also paid an additional $20,736.50 in finder's fees to certain other parties in connection with the offering.

[Tackler]

PharmaGap preferred and common share financing

2007-06-11 14:25 MT - Private Placement

TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced May 3, 2007.

Number of shares: 5,603,600 common shares and 2.4 million Series I first preferred shares

Price: 12.5 cents per common share and Series I preferred share

Warrants: 5,603,600 share purchase warrants to purchase 5,603,600 shares

Warrant price: 16.5 cents for a two-year period

Hidden placees: 45 subscribed

Pro groups: Jolyon Burton 80,000; Bruce Kvellestad 25,000; Martin Marshall 15,000

Agent fees: A total of $102,586.50, plus 414,800 warrants (each exercisable into one common share at a price of 16.5 cents for a period of two years to Dundee Securities Corporation, Wellington West Capital Inc., Capital Street Group, Wolverton Securities Ltd., Pat Nicastro, Canaccord Capital Corp. and Northern Securities Inc.

[Tackler]

PharmaGap drug modified to enhance potency, duration

2007-05-29 08:47 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP REPORTS IMPROVED EFFICACY OF CANCER DRUG COMPOUND IN QUEEN'S UNIVERSITY STUDY

PharmaGap Inc. has released results from a second phase of testing of the company's lead cancer drug, PhGalpha1, at Queen's University in Ontario.

Data generated by Dr. Michael Adams in Queen's department of pharmacology and toxicology confirmed that the potency and duration of action of the company's lead drug, PhGalpha1, was significantly increased as a result of minor modification of the drug's molecular structure. Similar to an earlier study at Queen's completed in December, 2006, this latest data affirms the potential of PhGalpha1 for use as a therapeutic agent in patients.

Dr. Adams, in commenting on these results, said: "These recent laboratory studies confirm that this modified version of PhGalpha1, an inhibitor of protein kinase C (PKC), has an extended effect when injected intravenously in animal models. From my perspective as an experienced drug developer and pharmacologist, this data supports continued development of the PharmaGap compound."

This latest study at Queen's showing enhanced potency and duration of action with PhGalpha1 follows the recently announced data from Memorial Sloan-Kettering Cancer Center in New York City. There, researchers led by Dr. Gary Schwartz showed that PhGalpha1 boosts the effect of a well-known chemotherapeutic agent in treating chemo-drug-resistant cancers by approximately 50 per cent.

Robert McInnis, President and chief executive of PharmaGap, said: "We are delighted that Dr. Adams's studies show an improved effect for PhGalpha1 and that he remains committed to continue working with PharmaGap. PharmaGap's association with Queen's, similar to our collaboration with researchers at Memorial Sloan-Kettering, is an important validation of our company's novel science and potential to introduce important new compounds to treat cancer."

[Tackler]

We would like to bring to your attention some exciting news about PharmaGap as we pursue
the final stages of preclinical testing of the Company’s cancer drug, PhGalpha1, before outlicensing
of the drug to a larger pharmaceutical company. Our drug is a novel compound that
to date has shown compelling efficacy in treating certain cancers, most notably colon cancer
(along with lung and breast cancer, colon cancer is a major contributor to death from cancer in
North America).
We announced today the results of testing of PhGalpha1 at Memorial Sloan-Kettering Cancer
Center in New York City, under the direction of Dr. Gary Schwartz, a noted cancer researcher
and clinical physician. Memorial Sloan-Kettering is the world’s largest and most prestigious
dedicated cancer treatment and research facility and has a mandate to seek out the most
promising new cancer therapies from around the world http://www.mskcc.org
Dr. Schwartz’s results confirm and extend earlier results obtained in bench top and animal trials undertaken by PharmaGap researchers.
The results show the very positive impact that PhGalpha1 has in improving the therapeutic
effect of a widely used chemotherapy drug in killing cancer cells by approximately 50%
versus cells treated with chemotherapy alone. The implication of this is enormous:
PharmaGap’s drug, once approved, could be administered to patients in parallel with standard
chemotherapy and may allow for the use of lower levels of these toxic chemotherapeutic
agents. The drug can potentially assist the chemotherapy in delivery a better therapeutic effect
at lower levels, plus with the added benefit of decreased severity of patient side effects since
less chemotherapy is required.
These results augment and confirm our previously announced results in bench top and animal
testing at PharmaGap, at the National Research Council of Canada’s (NRC) Animal Testing
Facilities and at Queen’s University in Kingston, Ontario.
We are obviously excited that our lead drug, PhGalpha1, has been validated by an
independent researcher of the status of Dr. Schwartz. More importantly, these results in his
lab provide him with the basis to move forward with PharmaGap and in his words, “…with
the hope of translating these studies into human clinical trials at Memorial Sloan-Kettering.”
We are very encouraged by these results, and moreover by the collaboration with Dr.
Schwartz and Memorial Sloan-Kettering Cancer Center. This association with Memorial
Sloan-Kettering provides us with an invaluable boost in credibility when dealing with
pharmaceutical licensing partners in the U.S., Europe and the worldwide oncology field.
You may have seen our May 7, 2007 announcement that Dundee Securities Corporation has
made a $550,000 direct investment in PharmaGap. This reflects their strong belief in what we
are doing and our general scientific and business prospects. They are also acting as Agent for
the distribution of an additional $1,950,000 common share and warrant issue to accredited
investors.
We believe that the current offering provides the opportunity to participate in PharmaGap at a
very attractive entry price, with several near-term value driving events. These events include
the results of a fourth animal study studying the effect of PhGalpha1 against pre-established
tumours (this study requested specifically by two well known potential pharmaceutical
company licensees of the drug) and a potential first licensing transaction in 2007.
We have attached to this message a copy of the press releases announcing the results of the
Dr. Schwartz study, the Dundee Securities Corporation investment, as well as the Dundee
Selling Sheet for the current share offering.
If you would like to learn more about our scientific and business programs please contact
either of us directly by e-mail or phone.
Thank you for your time.

 
  
 Bob McInnis                  Simon Goulet 
 President and C.E.O.         Chief Operating Officer 
 [phone]              [phone] 
 [e-mail]       [e-mail]

[Tackler]

PharmaGap's PhGalpha1 enhances chemotherapy effect

2007-05-16 07:54 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP ANNOUNCES RESULTS OF TESTING AT MEMORIAL SLOAN-KETTERING CANCER CENTER IN NEW YORK

PharmaGap Inc. has released the results from the initial phase of testing of the company's lead cancer drug, PhGalpha1, at Memorial Sloan-Kettering Cancer Center in New York.

In testing undertaken under the direction of Dr. Gary Schwartz at Memorial Sloan-Kettering, PhGalpha1 was shown to increase the effect of a commonly used chemotherapeutic drug in killing cancer cells by approximately 50 per cent.

Dr. Schwartz, in commenting on these results, said: "These exciting laboratory studies show that PhGalpha1, an inhibitor of protein kinase C (PKC), enhances the effect of chemotherapy in human cancer cell lines. They provide a strong rationale for the further preclinical assessment of this agent at Memorial Sloan-Kettering, with the hope of translating these studies into human clinical trials."

The cancer cell lines producing this result are known to be highly drug-resistant, requiring increasing doses of highly toxic chemotherapeutic agents during the course of treatment. Included in the study was colorectal cancer, the third-leading cause of cancer deaths in North America. The ability to both improve the effectiveness of and reduce patients' exposure to toxic chemotherapy regimes through the use of PhGalpha1, a drug acting on the cell's signalling pathways, can have a major clinical impact when approved for human use.

The successful results obtained using PharmaGap's cancer drug at Memorial Sloan-Kettering provide strong independent validation of the company's science platform and lead drug potential for eventual human clinical use.

Robert McInnis, president and chief executive officer of PharmaGap, said: "We are thrilled to see these results achieved by Dr. Schwartz independently in his labs at Memorial Sloan-Kettering, which confirm and extend our previous results in both bench top and animal trials. We are delighted that Dr. Schwartz sees merit in our cancer program and that he has expressed interest in furthering the progress of PhGalpha1 toward human clinical trials. We also are fortunate to be able to add data produced in Dr. Schwartz's lab to data produced in PharmaGap's labs in order to further development of our pipeline of additional PKC inhibitor drugs. Testing of PhGalpha1 is continuing at Memorial Sloan-Kettering, with the scope and nature of the next phase of work currently under discussion."

Memorial Sloan-Kettering Cancer Center in New York City is the world's oldest and largest institution devoted to prevention, patient care, research and education in cancer.

Dr. Schwartz, who leads the study program for PhGalpha1 at Memorial Sloan-Kettering, is an acknowledged leader in PKC cell-signalling research in cancer treatment and has studied PKC inhibitors as potential cancer treatment for over 18 years. He has published numerous academic papers in the field and has been granted two U.S. patents on PKC inhibition for cancer treatment. Dr. Schwartz, chief of melanoma and sarcoma service for Memorial Sloan-Kettering's department of medicine's division of solid tumor oncology, is a medical oncologist specializing in the identification and development of new targeted drugs for cancer therapy, specifically aimed at understanding the mechanisms underlying the cell cycle and cell death, and the role that proteins, including protein kinases, play in these mechanisms. He is a member and attending physician at Memorial Sloan-Kettering Cancer Center and professor of medicine at Weill Medical College of Cornell University in New York. He is a member of the American Society of Clinical Oncology's (ASCO) scientific program and cancer education committees and has served as the American Association of Cancer Researcher's (AACR) co-chairperson for the Program Committee on Translational Research in Molecular Biology. Dr. Schwartz is also an editorial board member of the Journal of Clinical Oncology and an associate editor of Clinical Cancer Research.

[Tackler]

Fully diluted...

Counting all debentures and warrants and assuming the current private placement fully subscribes the float would be about 55 million.
At the debenture warrants price of .45 market cap would be approx 25 million.
What is a cancer treatment worth with the baby boomers aging?

[Tackler]

Debenture financing by SC Stormont Holdings Inc. (insider chairman of the board R. Bryden)

$1,287,120.00 convertible to one share at .30-.325 and one warrant at .45 mostly maturing August 2007

fully converted = approx 8.6 million shares

[Tackler]

Yes and the kicker with the Dundee participation is that they are the ones leading the licensing or sale of this lead technology.
In other words they are intimately aware of the prospects to move this drug forward and have decided to take a slice of the pie for themselves.

Some big names are sniffing at the door...

"undertake specific additional testing of our lead cancer drug requested by potential licensing and development partners."

[Foochi]

PharmaGap is doing some interesting cancer drug research.

They were recently written up in the Ottawa Business Journal

http://www.ottawabusinessjournal.com/288807230724848.php

PharmaGap receives $550,000 for cancer drug development
By Krystle Chow, Ottawa Business Journal Staff
Fri, May 4, 2007 8:00 AM EST


Local biotechnology firm PharmaGap Inc. has received an investment of $550,000 from Dundee Securities Corp on a private placement basis, which it will use to develop its lead cancer treatment drug.

The Ottawa-based company said Dundee had purchased two million common equity units and 2.4 million Series I preferred shares, both at 12.5 cents each. Each unit consists of one common share and one purchase warrant.

PharmaGap's president Robert McInnis said in a statement that the issue would allow the company to complete its testing program at Queen's University in Kingston and at Memorial Sloan-Ketting Cancer Center in New York, as well as to undertake specific additional testing of its lead drug requested by potential licensing and development partners.

"Additional funding from the public offering will provide the financial strength required to move our lead drug – PhGalpha1 – toward clinical trials and to finalize design and synthesize and initiate testing of the company's next pipeline compound," Mr. McInnis added.

He said the funds would also be used to explore its options for completing a licensing agreement or equivalent transaction for PhGalpha1 with potential development partners.

The company said it is also offering up to 15.6 million additional units to accredited investors, in the amount of up to $1.95 million. No closing date has yet been announced for the additional offering.



--------------------------------------------------------------------------------

[Tackler]

Board of Directors

Roderick M. (Rod) Bryden, Chairman of the Board
Mr. Bryden is Chairman of PharmaGap and the founder and Chairman of SC Stormont Inc., a business advisory company which participates in the development of small to mid-sized Canadian businesses. He is also the President of Plasco Energy Group and a director of Clearford Industries. He was the former Chairman and CEO of WorldHeart Corporation, Paperboard Industries, Systemhouse Ltd. and was the CEO of Terrace Corporation, the principal owner of the Ottawa Senators NHL hockey franchise. Mr. Bryden has taught law at the University of Saskatchewan and was a senior federal government official. He has a B.A. (Hon. Economics) from Mount Allison University (New Brunswick), LLB from the University of New Brunswick and LLM from the University of Michigan, Ann Arbor.

Daniel Larkin, Director
Mr. Larkin holds an MBA, with concentration in finance, from York University and has 30 years experience in all business functions, including senior management with Imperial Oil Ltd. (25 years), and in the high tech industry. He has been CEO of two small public companies including Sebring Resources Ltd. (1997-2002), the predecessor Company to PharmaGap and was the CFO of PharmaGap (2002-2003).

Michel Phipps, Ph.D., Director
Co-founder of PharmaGap. Dr. Philips specializes in mathematical modeling of physical phenomena. Dr. Phipps taught at the University of Ottawa and is currently Professor Emeritus. He has collaborated with Dr. Jenny Phipps, CSO, on cell communication and has spent two sabbaticals at the National Research Council of Canada studying cell communication and modeling its activity. Dr. Phipps received a doctorat d'état (state doctorate) in France.

Robert Letellier, Director
President of Ab Biotech Inc. Co-founder and former President & CEO of PharmaGap
(1999-2004). Prior to founding PharmaGap, Mr. Letellier was with the National Research Council of Canada and Industry Canada in Ottawa advising emerging technology companies on commercialization strategies. Mr. Letellier has a B.A. (Economics) from the University of Sherbrooke.

Michel Marchand, Ph.D., Director
Dr. Marchand received his Ph.D. in Geology from McMaster University. Dr. Marchand has worked for major energy companies and the Government of Canada. He has served numerous public companies since 1994 as a Director and in a variety of executive positions, including President and Director of Telkwa Gold (2003-present).

Jenny Phipps, Ph.D., Chief Scientific Officer, Director

[Tackler]

Significant insider ownership...

 
 Goulet, Simon Pavlovich               100,000 shares 
 Larkin, Dan                           644,066 shares 
 Phipps, Dr. Michel Jacques Pierre   2,057,143 shares 
 Letellier, Robert                   2,096,208 shares 
 Phipps, Dr. Jenny                   4,086,160 shares 
                                     ---------------- 
 Total                               8,983,577 shares 
 

8,983,577 / 21,347,620 (total float) = .4208 * 100 = 42.1%

Prior to latest financing, does not include Dundee and SC Stormont Holdings Inc. (Chairman R. Bryden).

[Tackler]

Dundee Securities Corporation

Dundee Securities Corporation is a full service investment dealer engaged in wealth management & financial advisory services, retail brokerage, institutional sales & trading, equity research and investment banking. Dundee Securities Corporation is a member of the Investment Dealers Association of Canada and CIPF.

With capital strength, focus and dedication, Dundee Securities delivers the best to our clients. Our 'Blue-Chip' retail Investment Advisors, high net worth Portfolio Managers, independently thinking Research team, client-focused Institutional Sales & Trading department, and innovative Corporate Finance professionals provide clients with a complete financial services package and timely, unparalleled client service.

Dundee Securities Dave Martin 416.350.3477

[Tackler]

Background info...

PharmaGap to license or sell lead drug candidate

2006-05-24 08:47 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP RETAINS DUNDEE SECURITIES AND WELLINGTON WEST AS STRATEGIC ADVISORS TO LICENSE OR SELL LEAD DRUG

PharmaGap Inc. will sell or license its lead drug candidate PhGalpha1, and potentially other elements of its scientific portfolio, in accordance with its previously disclosed business strategy.The company has retained Dundee Securities Corp. of Toronto and Wellington West Capital Inc. of Winnipeg to lead the process. PharmaGap expects the licence or sale of this lead technology to be concluded within six months, and will focus its operational activity during this time in activities required to support this process, including additional animal testing and production of test quantities of the drug for screening by interested parties.

Robert McInnis, president and chief executive officer of PharmaGap, declared this major milestone: "In early 2005, we established our business focus to deliver early stage drug compounds through proof of concept to sale or license to pharmaceutical companies or transitional companies that specialize in licensing early stage compounds for development, clinical trials and out-licensing to major pharmaceutical companies. This announcement marks the commencement of action to realize the value created by more than a decade of investment by the company and the National Research Council of Canada.

"Test results announced during the past 15 months have indicated excellent safety levels and significant levels of efficacy in inhibiting the establishment and growth of human cancers within host mice. In vitro results have included several forms of cancer, including lung, breast, colon, bladder, pancreatic, ovarian, brain glioblastoma and neuroblastoma. In vivo tests have been conducted with colon, breast and lung cancers, and very positive effects have been observed. Additional systemic in vivo testing will be conducted during the course of the licensing and sales process."

The PharmaGap scientific focus is the inhibition of activity of specific isoforms of protein kinase C (PKC). The company's lead drug compound is designed to inhibit the activity of PKCalpha, the surplus expression of which is associated with many cancers. Patents respecting the specific selection and inhibition of PKCalpha and the PharmaGap process have been filed. PharmaGap's patent filings are designed to provide broad protection for the PharmaGap process by which PKC isoforms may be specifically selected and inhibited as their implication in specific health conditions is determined and for which there is a significant market demand. Subsequent patent filings will cover specific isoforms of PKC. Dr. Jenny Phipps, chief scientific officer of PharmaGap, said, "We believe that the PharmaGap patents provide the basis for significant drug pipeline development and that the lead drug, PhGalpha1, has the potential to be a meaningful advance in the treatment of cancers in which overexpression of PKCalpha is implicated."

"Increased interest of the large pharmaceutical companies in acquisition of pipeline at each stage in the development and trials process has generated a very active market for early stage compounds that have shown promise in bench and animal tests. Treatment of cancer by non-toxic methods of inhibiting the action of PKCalpha has become an area of specific interest. We believe that PharmaGap has established a novel method for selection and inhibition of PKCalpha which matches well with the focus of research in a number of potential licensees or purchasers," Mr. McInnis said.

The company also disclosed that SC Stormont Holdings Inc. has agreed to purchase up to a further $500,000 of PharmaGap convertible debentures (Series 3 notes), to provide funds to PharmaGap as required over the next several months as the program led by Dundee and Wellington West is implemented. The Series 3 notes issued under this agreement will rank pari passu with similar Series 3 notes purchased previously by Stormont, will carry an interest rate of 10 per cent a year and will be convertible to equity units priced at 30 cents per unit. Each equity unit includes one share and one warrant to purchase a further share at 45 cents per share. Both the equity unit price and warrant exercise price are subject to approval by the TSX Venture Exchange.

[Tackler]

PharmaGap gets TSX-V approval of Dundee investment

2007-05-07 11:09 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP RECEIVES TSX-V APPROVAL FOR $550,000 INVESTMENT BY DUNDEE SECURITIES; SALE OF $1.95 MILLION IN SHARES AND WARRANTS TO ACCREDITED INVESTORS INITIATED

PharmaGap Inc. has received approval from the TSX Venture Exchange for the investment by Dundee Securities Corp. of $550,000 in equity securities. The company first reported the investment by Dundee in Stockwatch news on May 3, 2007.

Dundee has acquired two million common equity units and 2.4 million Series I preferred shares from the company. As a result of the issue, the company now has 21,374,620 common shares outstanding and 2.4 million Series I shares outstanding. Dundee owns 9.4 per cent of the common shares outstanding. The securities issued (including the common shares, the warrants and the Series I shares) will be subject to a hold period of at least four months and one day from May 4, 2007, pursuant to TSX-V policies and to Multilateral Instrument 45-102, resale of securities.

The company is also offering by way of a private placement up to $1.95-million of units to accredited investors at the same price as were issued to Dundee. The units are being offered at 12.5 cents per unit and consist of one common share and one warrant to acquire a common share for a two-year period at 16.5 cents. The sale of securities to accredited investors is set to close on or before June 4, 2007. The company has received TSX-V conditional acceptance for the purchase of the units by accredited investors.

Pursuant to an agency agreement between the company and Dundee, Dundee will be paid a commission of 10 per cent of the total gross proceeds of the private placement and will also receive broker's warrants in an amount equal to 10 per cent of the number of units issued in the private placement. The broker's warrants have an exercise price of 16.5 cents per common share and a two-year term from date of issue. In connection with today's announcement, Dundee received a commission payment of $55,000 and 200,000 broker's warrants, respectively. A selling commission from Dundee is payable to other brokers with orders from accredited investors.

[Tackler]

PharmaGap wins $550,000 investment from Dundee

2007-05-03 16:26 MT - News Release

Mr. Robert McInnis reports

PHARMAGAP ANNOUNCES $550,000 INVESTMENT BY DUNDEE SECURITIES CORPORATION; ADDITIONAL AMOUNTS TO BE OFFERED FOR PUBLIC PURCHASE

PharmaGap Inc. investor Dundee Securities Corporation bought two million common equity units and 2.4 million Series I preferred shares, for a total investment by Dundee of $550,000.

Robert McInnis, president of PharmaGap, said: "This issue provides the basis to complete the testing program under way at Queen's University, Ontario, and at Memorial Sloan-Kettering Cancer Center in New York, as well as to undertake specific additional testing of our lead cancer drug requested by potential licensing and development partners. Additional funding from the public offering will provide the financial strength required to move our lead drug -- PhGalpha1 -- toward clinical trials and to finalize design, synthesize and initiate testing of the company's next pipeline compound. Funds will also be applied to continue discussions and expand our efforts in achieving value for shareholders through completion of a licensing or equivalent transaction for PhGalpha1 with potential development partners."

The company is also offering up to 15.6 million additional units to accredited investors, in the amount of up to $1.95-million with an anticipated closing date or dates to be announced. The units are anticipated to be offered to accredited investors at the same price per unit and on the same terms as today's issue. The sale to Dundee and the concurrent offering to accredited investors are collectively referred to as the private placement, the terms of which remain subject to final acceptance by the TSX Venture Exchange (TSX-V).

The units consist of one common share and one warrant to purchase one common share. The price per unit is 12.5 cents. The warrants have a two-year term and an exercise price of 16.5 cents per common share.

The Series I shares are priced at 12.5 cents per Series I share and are convertible at the request of the holder into units on a one-for-one basis at no further cost. The Series I shares carry no fixed dividend and have no priority on liquidation. Series I shares are eligible to vote in all votes of common shareholders to the extent of one vote for every 100 Series I shares held, and are subject to a voting agreement that directs Series I share votes to be cast in favour of the majority of the common shares voted. The company has filed articles of amendment defining the rights of the Series I shares. The articles of amendment have been conditionally approved by the TSX-V.

The common shares so issued to accredited investors will be an eligible investment for RRSPs, RIFs, DPSPs and RESPs. Pursuant to applicable securities regulations, the units and Series I shares will be subject to a four-month hold period from the date of closing.

Pursuant to an agency agreement between the company and Dundee, Dundee will be paid a commission of 10 per cent of the total gross proceeds of the private placement and will also receive broker's warrants in an amount equal to 10 per cent of the number of units issued in the private placement. The broker's warrants have an exercise price of 16.5 cents per common share and a two-year term from date of issue of the units placed. In connection with today's announcement, Dundee received payment of $55,000 and 200,000 broker's warrants.

[Tackler]

Management Team

Robert C. McInnis, President & Chief Executive Officer
Bob joined PharmaGap in December 2004. Prior to this, Bob was the Director of Financial Programs at World Heart Corporation, dealing with various financial structuring programs including responsibility for U.S. and Canadian capital markets regulatory affairs. Previously, Bob was president of SC Stormont Corporation and was involved in the corporate financial management for the Ottawa Senators Hockey Club and The Corel Centre. Before that, Bob was employed at SHL Systemhouse Inc., at the time, Canada’s largest computer system integration company where he held a number of key financial management roles including corporate structuring, and mergers and acquisitions activity. Bob is a chartered accountant and holds a Bachelor of Mathematics degree from the University of Waterloo.

Simon Goulet, Executive Vice President & Chief Operating Officer
Simon joined PharmaGap in December 2003 as Chief Financial Officer and was appointed to his new position in December 2004. Previously, he was Vice President, Investment Banking with Credit Suisse First Boston in New York and TD Securities in New York and Toronto, where he was responsible for numerous assignments raising capital and executing M&A transactions. He is also a co-founder of a company in Greenwich, Connecticut licencing financial software and he has sold medical products to hospitals and clinics for Kodak Canada Inc. Simon has a B.Sc. (Biochemistry) from Queen’s University and an MBA from the University of Western Ontario.

David Barnes, M.D., Clinical Development & Regulatory Affairs Consultant
David has been working with PharmaGap since January 2004 and is responsible for all aspects of the Company’s clinical testing efforts and regulatory affairs. He is the co-founder and Managing Partner of BioTheragene Clinical Research Consultants and the Chalmers Research Group, both well regarded clinical study consultancies based in Ottawa. Previously David was Head of the Biotechnology Drug Evaluation Unit at Health Canada and he was a practicing family physician. David has 10 years experience in molecular biology and clinical research and is former Investigator at the University of Ottawa’s Evidence Based Practice Center. He has been a contract drug development executive for pharmaceutical companies since 2001. David is an M.D., Memorial University of Newfoundland.

Jenny Phipps, Ph.D., Chief Scientific Officer, Director
Co-founder of PharmaGap. Jenny is an experienced molecular biologist with a strong interest in signal transduction processes and their effect on disease. As CSO, Jenny designed and implemented the core drug development program targeting PKC. Before joining the Company full-time in 2001, Jenny was a senior researcher at the National Research Council of Canada in Ottawa, an adjunct professor at the University of Ottawa (School of Medicine) and an assistant professor of biology at Carleton University (Ottawa). She has a Doctorate (Molecular Genetics) from the Universite Paul Sabatier (France).

Jennifer Arnold, Ph.D., Director Pre-Clinical Development
Jennifer joined PharmaGap in 2001 as a post-doctorate fellow, focusing on modulation of protein kinases implicated in cancer, multi-drug resistance and neurological disorders. She has been instrumental in developing the Company’s pre-clinical program and is currently directing animal studies for PharmaGap’s lead drug cancer program. In addition to her work at PharmaGap, Jennifer has been a sessional lecturer for the Biochemistry Department at The University of Ottawa and is an Adjunct Professor at Carleton University (Ottawa). She holds a doctorate in neurosciences from Carleton University, a M.Sc. in Pharmacology from Universite de Sherbrooke (Quebec) and an honours B.A. (Psychology) from Bishop’s University (Quebec).

Gerald Leahy, Chief Financial Officer
Gerald joined Pharmagap as Chief Financial Officer in December, 2004 bringing more than 20 years of industry experience in public and private companies, including 14 years in the high-tech sector. As a financial professional he has successfully developed and managed finance groups throughout the building and growth stages of companies. He has been involved in private and public financings, international expansion into foreign markets as well as reorganizations. Gerald was a key player in Simware Inc.’s Nasdaq IPO and the eventual merger with Netmanage Inc., and also recently acted as CFO during Linmor Inc.’s strategic sale to Nuvo Network Management Inc. Gerald is a CMA and holds a Bachelor of Commerce degree from Carleton University.