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OncoGenex to present at the Needham & Company 7th Annual Biotechnology & Medical Technology Conference
Date:6/9/2008

VANCOUVER, June 9 /PRNewswire/ - OncoGenex Technologies Inc. will present at the Needham & Company 7th Annual Biotechnology & Medical Technology Conference on June 11 at 3 p.m. ET at the New York Palace Hotel. OncoGenex' President and Chief Executive Officer, Scott Cormack, will provide a corporate overview at the conference, including an overview of the Company's most recent data presentations from the American Society of Clinical Oncology (ASCO) 2008 and the American Society of Clinical Oncology (ASCO) Genitourinary 2008 cancer conferences.

About OncoGenex

OncoGenex is a private biopharmaceutical company committed to the development and commercialization of new cancer therapies that address treatment resistance in cancer patients. The company's three product candidates are designed to inhibit the production of specific proteins associated with treatment resistance and which are over-produced in response to a variety of cancer treatments. OGX-011 is completing evaluation in five Phase 2 clinical studies in prostate, lung, and breast cancers. OGX-427 has begun evaluation in Phase 1 clinical studies, while the third product candidate, OGX-225, has completed preclinical pharmacology studies. More information is available at http://www.oncogenex.ca.

Definitive Agreement to Merge

On May 28, 2008, Sonus Pharmaceuticals, Inc. (NASDAQ: SNUS) and OncoGenex Technologies Inc., jointly announced the signing of a definitive agreement to merge the two companies. The proposed transaction is subject to the approval of Sonus' and OncoGenex' shareholders and in the case of OncoGenex, court approval under the arrangement provisions of the Canada Business Corporations Act.

Safe Harbor

This press release contains forward-looking statements, including statements concerning clinical trial results and the proposed merger between Sonus and OncoGenex. 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. For example, statements regarding the timing and anticipated results of clinical trials and development efforts and the timing of closing the proposed merger are all forward-looking statements. The potential risks and uncertainties include, among others, that clinical results will not be maintained in final data analysis, that current or future clinical trials will not be successful or confirm the results of earlier studies, risks related to the timing and costs of clinical trials and regulatory approvals, risks associated with obtaining funding from third parties or completing a financing necessary to support the costs and expenses of clinical studies, risks relating to the development, safety and efficacy of therapeutic drugs and potential applications for these products and the possibility that the merger with Sonus does not close or that the closing may be delayed. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of OncoGenex. The Company undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof.

CONTACT: OncoGenex Media and Investor Contact: Jason I. Spark, Porter Novelli Life Sciences, (619) 849-6005, jspark@pnlifesciences.com


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SOURCE OncoGenex Technologies Inc.
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