Oncolytics Biotech(R) Inc. Collaborators Present Positive Phase II Sarcoma Trial Results at CTOS Annu...(ated in order to integrate the virus in ...)

"These results are consistent with what we observed on an interim basis when we reported data on the first 16 patients back in June 2008," said Dr. Brad Thompson, President and CEO of Oncolytics. "It is encouraging that we are observing stable disease in a range of sarcomas and the clinical benefit is not isolated to any specific type."

A copy of the poster will be available on the Oncolytics website today.

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 human trials including a Phase III trial in head and neck cancers using REOLYSIN, its proprietary formulation of the human reovirus. 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 materials presented at the CTOS meeting with respect to REOLYSIN; the Company's belief as to the potential of REOLYSIN as a cancer therapeutic; the Company's expectations as to the success of its research and development programs in 2009 and beyond, the Company's planned operations, the value of the additional patents and intellectual property; the Company's expectations related to the applications of the patented technology; the Company's expectations as to adequacy of its existing capital resources; the design, timing, success of planned clinical trial programs; and other statements related to anticipated developments in the Company's business and technologies involve known and unknown risks and uncertainties, which could cause the Company's actua
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