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OncoGenex Pharmaceuticals' Clinical Programs to be Featured in Oral Presentations at the American Society of Clinical Oncology Annual Meeting
Date:5/11/2009

BOTHELL, WA and VANCOUVER, May 11 /PRNewswire-FirstCall/ - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced today that final survival data from a randomized Phase 2 trial evaluating OGX-011 in combination with docetaxel versus docetaxel alone as first-line chemotherapy in patients with metastatic castration-resistant prostate cancer will be featured in an oral presentation at the American Society of Clinical Oncology (ASCO) Annual Meeting. In addition, Phase 1 clinical data evaluating OncoGenex' second product candidate, OGX-427, will also be featured in an oral presentation at ASCO.

Abstracts will be made available to the public online on ASCO's website, www.ASCO.org, on Thursday, May 14 at 6:00 p.m. (EDT).

The oral presentations are scheduled for Saturday, May 30 at the ASCO meeting in Orlando, Florida. These formal presentations will also include new data that has been updated since abstracts were submitted to ASCO.

Abstract Presentation Information

    Title:    Mature results of a randomized phase II study of OGX-011 in
              combination with docetaxel/prednisone versus
              docetaxel/prednisone in patients with metastatic castration
              resistant prostate cancer
    Authors:  K. N. Chi, S. J. Hotte, E. Yu, D. Tu, B. Eigl, I. Tannock,
              F. Saad, S. North, J. Powers, E. Eisenhauer, National Cancer
              Institute of Canada Clinical Trials Group
    Date:     4:30 p.m. - 4:45 p.m. EDT, Saturday, May 30, 2009
    Location: Level 3, Chapin Theatre, W320, Orange County Convention Center
    Abstract: # 5012

    Title:    OGX-427, a 2'methoxyethyl antisense oligonucleotide (ASO),
              against HSP27: Results of a first-in-human trial
    Authors:  S. J. Hotte, E. Y. Yu, H. W. Hirte, C. S. Higano, M. Gleave,
              K. N. Chi
    Date:     2:00 p.m. - 2:15 p.m. EDT, Saturday, May 30, 2009
    Location: Level 4, Valencia Room, W415A, Orange County Convention Center
    Abstract: # 3506

About OncoGenex

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 currently completing five Phase 2 clinical studies 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. More information about OncoGenex is available at www.oncogenex.com.

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.

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 statements concerning the Company's key objectives for 2009, and other anticipated activities, achievements, occurrences and performance. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements.

The potential risks and uncertainties associated with forward-looking statements include, among others, the timing and costs of clinical trials and regulatory approvals, risks that clinical trials will not be successful or confirm earlier or interim clinical trial results, the Company's need for additional financing, the uncertainty associated with any potential partnering discussions, risks relating to the development, safety and efficacy of therapeutic drugs and potential applications for these products and the risk factors set forth in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for fiscal year 2008 and its Quarterly Report for the first quarter of 2009 on Form 10-Q. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or that if any of them do transpire or occur, what impact they would have on the results of operations or financial condition of the Company. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof.


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SOURCE OncoGenex Pharmaceuticals, Inc.
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