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OncoGenex and Isis Announce OGX-011 Data to be Presented at ASCO

VANCOUVER and CARLSBAD, CA, May 31, 2007 /PRNewswire-FirstCall/ - OncoGenex Technologies Inc. and Isis Pharmaceuticals, Inc. today announced that preliminary data from ongoing clinical studies of OGX-011 will be presented at the American Society of Clinical Oncology Annual Meeting (ASCO). Presentations will include data from a Phase II clinical study of OGX-011 in hormone refractory prostate cancer and data from a Phase I/II clinical study of OGX-011 in non-small cell lung cancer. ASCO takes place June 1-5, 2007 at McCormick Place in Chicago, Illinois.

    Information related to the presentations:


    Saturday, June 2, 2007


    Poster Presentation:   "A randomized Phase II study of OGX-011 in

                           combination with docetaxel and prednisone or

                           docetaxel and prednisone alone in patients with

                           metastatic hormone refractory prostate cancer

                           (HRPC)"

    Abstract Number:       5069

    Session:               Genitourinary (Prostate) Cancer, Poster Board

                           # 17

    Location:              E451a

    Session Time:          2:00 p.m. - 6:00 p.m.

    Presenter:             Kim N. Chi, M.D., FRCPC


    Poster Discussion:     "A randomized Phase II study of OGX-011 in

                           combination with docetaxel and prednisone or

                           docetaxel and prednisone alone in patients with

                           metastatic hormone refractory prostate cancer

                           (HRPC)"

    Abstract Number:       5069

    Session:               Genitourinary (Prostate) Cancer, Poster Board

                           # 17

    Location:              E Arie Crown Theater

    Session Date:          Saturday, June 2, 2007

    Session Time:          5:00 p.m. - 6:00 p.m.

    Presenter/Discussant:  Kim N. Chi, M.D./Celestia Higano, M.D.


    Sunday, June 3, 2007


    Poster Presentation:   "A
 Phase I/II study of OGX-011 and a gemcitabine

                           (GEM)/platinum regimen as first-line therapy in 85

                           patients with advanced non-small cell lung cancer"

    Abstract Number:       7596

    Session:               Lung Cancer, Poster Board # P10

    Location:              S Hall A2

    Session Time:          8:00 a.m. - 12:00 p.m.

    Presenter:             Janessa J. Laskin, M.D.


    About OGX-011

OGX-011 is designed to specifically inhibit the production of the cell-survival protein, clusterin. Clusterin production is associated with treatment resistance in many cancers and in response to various cancer treatments, including hormone ablation therapy, chemotherapy and radiation therapy. Preclinical studies have shown that inhibition of clusterin can disable the tumor cell's adaptive defences, render the tumor cells susceptible to attack with a variety of cancer therapies, including chemotherapy, and facilitate tumor cell death. OncoGenex and Isis are collaborating on development of OGX-011.

About OncoGenex

OncoGenex is committed to the development and commercialization of new cancer therapies that address treatment resistance in cancer patients. OncoGenex currently has three product candidates in development: OGX-011, OGX-427 and OGX-225. These product candidates are designed to selectively inhibit the production of proteins that are associated with treatment resistance and that are over-produced in response to a variety of cancer treatments. OncoGenex' aim in targeting these particular proteins is to disable the tumor cells' adaptive defenses, render the tumor cells susceptible to attack with a variety of cancer therapies including chemotherapy, and facilitate tumor cell death. More information on OncoGenex and the company's pipeline is available at www.oncogenex.com.

About Isis Pharmaceuticals, Inc.

Isis is exploiting its expertise in RNA to discover and develop novel drugs for its product pipeline and for its partners. The Company has successfully commercialized the world's first antisense drug and has 17 drugs in development. Isis' drug development programs are focused on treating cardiovascular and metabolic diseases. Isis' partners are developing drugs for cancer, and inflammatory and other diseases. Ibis Biosciences, Inc., Isis' wholly owned subsidiary, is developing and commercializing the Ibis T5000 Biosensor System, a revolutionary system to identify infectious organisms. As an innovator in RNA-based drug discovery and development, Isis is the owner or exclusive licensee of over 1,500 issued patents worldwide. Additional information about Isis is available at www.isispharm.com.

Isis Pharmaceuticals, Inc. Forward-Looking Statement

This press release includes forward-looking statements regarding the development, activity, therapeutic potential and safety of OGX-011 in treating cancer. Any statement describing Isis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement, including those statements that are described as Isis' goals. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such products. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2006, and its quarterly report on Form 10-Q for the quarter ended March 31, 2007, which are on file with the SEC. Copies of this and other documents are available from the Company.

    Isis Pharmaceuticals, Ibis Biosciences and Ibis T5000 are registered

    trademarks or trademarks of Isis Pharmaceuticals, Inc.


CONTACT: OncoGenex Contact: Scott Cormack, President & CEO, (604) 630-5400; OncoGenex Media Contact: Jason Spark, Porter Novelli Life Sciences, (619) 849-6005; Isis Contact: Kate Corcoran, Vice President, Corporate Development, (760) 603-2331

CONTACT: OncoGenex Contact: Scott Cormack, President & CEO, (604)630-5400; OncoGenex Media Contact: Jason Spark, Porter Novelli LifeSciences, (619) 849-6005; Isis Contact: Kate Corcoran, Vice President,Corporate Development, (760) 603-2331

Ticker Symbol: (NASDAQ-NMS:ISIS)

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