Oncolytics Biotech(R) Inc. Collaborators Update Combination REOLYSIN(R) and Docetaxel Trial Results at Replicating Oncolytic Virus Meeting

    CALGARY, March 20 /CNW/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ:
ONCY) today announced updated clinical results from its U.K. combination
REOLYSIN(R) and docetaxel clinical trial for patients with advanced cancers.
The principal investigator for the trial is Professor Hardev Pandha of the
Royal Surrey County Hospital, U.K. The results were presented at the Fifth
International Meeting on Replicating Oncolytic Virus Therapeutics. The meeting
is being held in Banff, Alberta from March 18th to 22nd, 2009.
    Twenty-four patients were treated in the trial, with 17 evaluable for
response. Fifteen of the 17 evaluable patients experienced Stable Disease (SD)
or better, including five patients who experienced minor and Partial Responses
(PR), giving a clinical benefit rate (SD + PR + Complete Response (CR)) of
88%.
    "Heavily pretreated patients are the most difficult to treat," said Dr.
Karl Mettinger, Chief Medical Officer for Oncolytics. "It is very encouraging
to observe such a robust response rate, including a significant objective
tumour response in this group.
    "In future, we plan to combine docetaxel with REOLYSIN(R) in patients
with metastatic sarcoma," added Dr. Mettinger. "Both REOLYSIN(R) and docetaxel
have been demonstrated to be active against sarcoma, and there is ample
preclinical evidence demonstrating that the combination may be synergistic in
this patient group."
    The Phase I trial (REO 010) had two components. The first was an
open-label, dose-escalating, non-randomized study of REOLYSIN(R) given
intravenously to patients with docetaxel every three weeks. In this portion of
the trial, standard dosages of docetaxel were delivered to patients with
escalating dosages of REOLYSIN(R) intravenously. The second component of the
trial included the enrolment of additional patients at the top dose of
REOLYSIN(R) in combination with a standard dosage of docetaxel. Eligible
patients included those who have been diagnosed with advanced or metastatic
solid tumours that are refractory (have not responded) to standard therapy or
for which no curative standard therapy exists.
    The poster presentation will be available on the Oncolytics website today
at www.oncolyticsbiotech.com.

    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 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 this meeting with respect to REOLYSIN(R), the Company's
expectations related to the results of trials investigating delivery of
REOLYSIN(R), the Company's analysis of the results of the
REOLYSIN(R)/docetaxel 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 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,
uncertainties related to the regulatory process and general changes to the
economic environment. 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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For further information: Oncolytics Biotech Inc., Cathy Ward, 210, 1167
Kensington Cr NW, Calgary, Alberta, T2N 1X7, Tel: [phone], Fax: (403)
283-0858, [e-mail]; The Equicom Group, Nick Hurst, 325, 300
5th Ave. SW, Calgary, Alberta, T2P 3C4, Tel: [phone], Fax: (403)
237-6916, [e-mail]; The Investor Relations Group, Erika Moran,
11 Stone St, 3rd Floor, New York, NY, 10004, Tel: [phone], Fax: (212)
825-3229, [e-mail]