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Oncolytics Biotech(R) Inc. Announces 2009 First Quarter Results
Date:5/5/2009

CALGARY, May 5 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX:ONC, NASDAQ: ONCY) ("Oncolytics" or the "Company") today announced its financial results for the three-month period ended March 31, 2009.

"The first quarter of 2009 was highlighted by the announcement of very positive results in several of our combination REOLYSIN(R) clinical trials," said Dr. Brad Thompson, President and CEO of Oncolytics. "We continue to report clinical benefit in the majority of patients treated with REOLYSIN in combination with chemotherapy or radiation, paving the way for our pivotal program to begin this year."

    Selected First Quarter Highlights:

    -  Announced positive interim results from a U.K. Phase I/II combination
       REOLYSIN and paclitaxel/carboplatin trial for patients with advanced
       head and neck cancers. Of 12 evaluable patients, five patients had
       partial responses (PR) and four patients had stable disease (SD), for
       a clinical benefit rate (complete response + partial response + stable
       disease) of 75%;

    -  Announced positive results from a U.K. combination REOLYSIN and
       docetaxel trial for patients with a variety of advanced cancers.
       Fifteen of the 17 evaluable patients experienced SD or better,
       including two PR, three minor responses and 10 SD, giving a clinical
       benefit rate of 88%;

    -  Completed enrolment in a U.K. combination REOLYSIN and gemcitabine
       clinical trial. Of the ten patients evaluable for response, two
       patients (breast and nasopharyngeal) had PRs and five patients had SD,
       for a clinical benefit rate of 70%;

    -  Started patient enrolment in a U.S. Phase 2 Combination REOLYSIN and
       paclitaxel/carboplatin clinical trial for patients with non-small cell
       lung cancer with K-RAS or EGFR-activated tumo
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SOURCE Oncolytics Biotech Inc.
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