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Oncolytics Biotech(R) Inc. Announces Reovirus Research to be Presented at AACR Annual Meeting
Date:3/16/2009

normal prostate tissues. Evidence of reovirus spread to other intraprostatic cancerous lesions was not observed.

The investigators concluded that reovirus therapy may provide a novel treatment for prostate cancer, however, ongoing work to circumvent immune clearance of reovirus is required. A poster presentation is scheduled to be delivered by Dr. Don Morris and his research group from the Tom Baker Cancer Centre, Calgary, on Tuesday, April 21, 2009.

About Oncolytics Biotech Inc.

Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses as potential cancer therapeutics. Oncolytics' clinical program includes a variety of Phase I/II and Phase II human trials using REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in combination with radiation or chemotherapy. For further information about Oncolytics, please visit www.oncolyticsbiotech.com.

This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the implication of the abstracts and materials presented on the AACR website and at this meeting with respect to REOLYSIN(R), the Company's expectations related to the results of trials investigating delivery of REOLYSIN(R), and the Company's belief as to the potential of REOLYSIN(R) as a cancer therapeutic, involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the availability of funds and resources to pursue research and development projects, the efficacy of REOLYSIN(R) as a cancer treatment, the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize RE
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