PharmaGap Inc. (PharmaGap) is a development-stage company. The Company is principally engaged in drug development and out-licensing of drug compounds. The Company is focused on the development of novel drugs for treatment of cancer and other human disease conditions. PharmaGap�s lead drug compound, GAP-107B8, is in the pre-clinical testing stage and has shown in vitro and in vivo efficacy in selected cancer types. During the year ended December 31, 2011, the Company commenced specific programs to further elucidate information regarding the pharmacokinetics and toxicity profiles of GAP-107B8. A program to develop liposomal delivery formulations of GAP-107B8 in order to optimize the delivery and safety of the drug compound was completed during 2011. The Company is developing GAP-107B8 for first clinical trials in ovarian cancer, using the intra-peritoneal route of administration.