Gagamboy
Gagamboy (Spiderboy) is -you guessed it- Spiderman parody. both the main villain and Spiderboy gain their powers by eating radioactive bugs.
Starring Vhong Navarro, Jay Manalo, Aubrey Miles, Long Mejia, Bearwin Meily, Rene Boy Facunla, Jenine Desiderio, Ogie Diaz, Kathryn Bernardo, JC Parker
Watch "Gagamboy" on Amazon released in 2004. It's a comedy and action & adventure movie, and has a rating of 5.6 out of 10 from Imdb which is fairly okay for this kind of movie, and is currently only available for purchase or rent.