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Oncothyreon highlights corporate and clinical objectives for 2008
Date:1/28/2008

BELLEVUE, WA, Jan. 28 /PRNewswire-FirstCall/ - Oncothyreon Inc. (the "Company") (Nasdaq: ONTY) (TSX:ONY), a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer, today provided a review of the Company's clinical development plans and corporate objectives for 2008. Oncothyreon is developing both novel synthetic vaccines and targeted small molecules with the potential to improve the lives and outcomes of cancer patients.

"During 2008, our primary focus will continue to be the advancement of our clinical pipeline," said Robert L. Kirkman, M.D., President and Chief Executive Officer of Oncothyreon. "We are committed to the rapid development of our product candidates as the best strategy for building long-term value for our shareholders and achieving our vision of developing important new cancer therapies."

"As we advance our clinical programs, we also remain committed to prudent management of our financial resources," continued Dr. Kirkman. "The manufacturing revenue and milestone payments we anticipate receiving under our collaboration with Merck KGaA of Darmstadt, Germany for Stimuvax(R) are expected to support the further development of this product without material additional investment by Oncothyreon. We believe Stimuvax has substantial upside potential if it is approved and marketed, as our agreements with Merck KGaA include significant commercialization milestones and royalties on Stimuvax sales. With respect to our small molecule programs, we are actively seeking a partner for one or more of our product candidates, in order to provide additional resources for these product candidates, while generating revenue to support ongoing development of other compounds
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SOURCE Oncothyreon Inc.
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