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Oncolytics Biotech Inc. Proceeds to Full Enrolment in U.S. Phase II Sarcoma Clinical Trial
Date:1/31/2008

in Ann Arbor, Michigan, and the Mayo Clinic in Rochester, Minnesota.

The trial (REO 014) is a Phase II, open-label, single agent study whose primary objective is to measure tumour responses and duration of response, and to describe any evidence of antitumour activity of intravenous, multiple dose REOLYSIN(R) in patients with bone and soft tissue sarcomas metastatic to the lung. REOLYSIN(R) is delivered intravenously to patients at a dose of 3x10(10) TCID(50) for five consecutive days. Patients may receive additional five-day cycles of therapy every four weeks for a maximum of eight cycles. Up to 52 patients will be enrolled in the study.

Eligible patients must have a bone or soft tissue sarcoma metastatic to the lung deemed by their physician to be unresponsive to or untreatable by standard therapies. These include patients with osteosarcoma, Ewing sarcoma family tumours, malignant fibrous histiocytoma, synovial sarcoma, fibrosarcoma and leiomyosarcoma.

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 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 U.S. Phase II sarcoma clinical trial 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 ac
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SOURCE Oncolytics Biotech Inc.
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4. Oncolytics Biotech Inc. Completes Patient Enrolment in U.K. Phase Ia/Ib Combination REOLYSIN(R)/Radiation Clinical Trial
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