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OncoGenex Pharmaceuticals Announces Issuance of Key Patent for OGX-011

BOTHELL, WA, and VANCOUVER, Aug. 10 /PRNewswire-FirstCall/ - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI), today announced that the United States Patent and Trademark Office (PTO) has issued United States Patent Number 7,569,551 entitled "Chemo-and Radiation-sensitization of Cancer by Antisense TRPM-2 Oligodeoxynucleotides," on the method of using OncoGenex' lead cancer drug candidate, OGX-011, to treat certain cancers. The patent, licensed from The University of British Columbia, includes coverage for the method for treating cancers that express the protein clusterin using OGX-011, or any other clusterin antisense oligonucleotide, in combination with any chemotherapeutic agent or radiation therapy.

"The issuance of this patent expands our intellectual property estate for treating clusterin-expressing cancers using antisense therapy and provides us with a broad patent that applies well beyond prostate cancer," said Scott Cormack, President and CEO of OncoGenex. "Importantly, given that our current Phase 3 plans include combining OGX-011 with chemotherapy, this patent directly relates to our current method of using OGX-011."

OncoGenex Pharmaceuticals, Inc. owns or has licenses to approximately 67 granted or issued U.S. and foreign patents, and approximately 140 pending U.S. and foreign patent applications worldwide. Composition of matter patents covering OGX-011, OGX-427, SN2310, CSP-9222 and TOCOSOL(TM) have issued in the U.S. and certain other jurisdictions. Additional patent applications covering all of these products, as well as other technologies, are pending in the U.S. and certain other countries. TRPM-2 is an historical name for clusterin, and survives in some of the earlier patent filings.

About OncoGenex Pharmaceuticals

OncoGenex is a biopharmaceutical company committed to the development and commercialization of new therapies that address unmet needs in the treatment of cancer. OncoGenex has a deep oncology pipeline, with each product candidate having a distinct mechanism of action and representing a unique opportunity for cancer drug development. OGX-011, the lead candidate that has completed five Phase 2 clinical trials in prostate, lung and breast cancers, is designed to inhibit the production of a specific protein associated with treatment resistance; OGX-427 is in Phase 1 clinical development; SN2310 has completed the Phase 1 clinical trial; and CSP-9222 and OGX-225 are currently in pre-clinical development.

OGX-011, OGX-427 and OGX-225 utilize second-generation antisense technology, licensed from Isis Pharmaceuticals (NASDAQ: ISIS), to effectively target and inhibit production of specific proteins in tumor cells. OncoGenex and Isis partnered in the successful discovery of OGX-011, OGX-427 and OGX-225 and with respect to OGX-011, in its initial development. In 2008, OncoGenex and Isis amended their OGX-011 agreement to provide OncoGenex with sole rights to OGX-011 and sole responsibility for development and related costs and partnering decisions, subject to financial obligations to Isis. OncoGenex is also solely responsible for development and related costs and partnering decisions regarding OGX-427 and OGX-225. Key intellectual property related to OGX-011, OGX-427 and OGX-225 were discovered by The University of British Columbia and the Vancouver Prostate Centre, and were exclusively licensed to OncoGenex.

More information about OncoGenex is available at

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the scope of the claims in our issued patents, the nature and extent of our intellectual property, the benefits provided by such issued patents and intellectual property and our plans with respect to our clinical development activities. Such forward-looking statements are subject to risks and uncertainties, including, among others: the risk factors set forth in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for fiscal year 2008. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law.

SOURCE OncoGenex Pharmaceuticals, Inc.
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