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Oncolytics Biotech(R) Inc. Announces 2009 Second Quarter Results
Date:7/29/2009

CALGARY, July 29 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX:ONC, NASDAQ: ONCY) ("Oncolytics" or the "Company") today announced its financial results for the three and six-month periods ended June 30, 2009.

"Clinical results from our monotherapy and combination clinical trials with REOLYSIN(R) continued to emerge in the second quarter," said Dr. Brad Thompson, President and CEO of Oncolytics. "The results of these trials, and the response and clinical benefit rates as reported by our investigators, reinforce our belief that REOLYSIN has the potential to significantly improve treatment outcomes in patients with a broad range of cancers."

Selected Second Quarter Highlights

    -   Presented updated U.S. Phase II sarcoma trial data at the American
        Society of Clinical Oncology (ASCO) annual meeting. The interim
        results demonstrated that the treatment was well tolerated, with 15
        of 36, or 42% of evaluable patients experiencing stable disease (SD)
        for more than 16 weeks, including five patients who had SD for more
        than 24 weeks. Patient enrolment was completed in May;

    -   Presented a poster at ASCO demonstrating that the combination of
        REOLYSIN and gemcitabine in a U.K. Phase I trial was well tolerated,
        and resulted in disease control for a majority of the patients. Of
        the ten patients evaluable for response, two patients (breast and
        nasopharyngeal) had partial responses (PRs) and/or clinical responses
        and five patients had SD for 4-8 cycles, for a total disease control
        rate (CR (Complete Response)+PR+SD) of 70%;

    -   Presented a poster at ASCO that indicated REOLYSIN was well tolerated
        and demonstrated anti-tumour activity in a U.S. Phase I systemic
        administration monotherapy trial. Of 18
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SOURCE Oncolytics Biotech Inc.
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