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Oncolytics Biotech Inc. Completes Initial Scale Up of Manufacturing Process for REOLYSIN(R) to Commercial Scale
Date:10/8/2008

CALGARY, Oct. 8 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ:ONCY) announced today that it has successfully completed initial scale up of its manufacturing process for REOLYSIN(R) to commercial scale.

The scale up of primary production and downstream processing development was undertaken by the National Research Council Biotechnology Research Institute (NRC-BRI) located in Montreal, Canada.

"Our existing manufacturing capacity at 40 litres allows us to support future pivotal clinical studies with REOLYSIN(R)," said Dr. Matt Coffey, Chief Scientific Officer of Oncolytics. "Using this process, a 100-litre manufacturing facility has the potential to produce more than one million doses a year for intravenous use."

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 http://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 Company's expectations related to the manufacturing process, the transfer of the scale up to full cGMP production, 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 REOLYSIN(R), uncertainties related to the research and development of pharmaceuticals and uncertainties related to the regulatory process. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements, except as required by applicable laws.


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SOURCE Oncolytics Biotech Inc.
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