Cancer Therapy & Research Center at The University of Texas Health Science Center and Oncolytics Biotech(R) Inc. Announce Multi-Trial Clinical Research Collaboration



    CALGARY, Feb. 4 /CNW/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC,
NASDAQ:  ONCY) and the Cancer Therapy & Research Center at The University of
Texas Health Science Center in San Antonio, (CTRC at UTHSCSA) announced a
broad preclinical and clinical collaboration involving up to five, open-label,
Phase 2 studies exploring the use of REOLYSIN(R) in combination with
chemotherapy for various cancer indications. These indications are expected to
include melanoma, pancreatic cancer, squamous cell lung, liver and K-RAS
mutated colorectal cancers in combination with standard chemotherapeutics.
This research program is in addition to Phase 2 trials in sarcoma and
refractory head & neck cancers, sponsored by Oncolytics that are currently
underway at this site.
    "As an NCI-designated cancer center, we give a very high priority to
approaches that are likely to significantly improve the prognosis of patients
with malignant diseases," said Dr Giles, Deputy Director of the CTRC at
UTHSCSA. "As Director of our Institute for Drug Development (IDD), I am
pleased to specifically dedicate IDD resources toward the further rapid
investigation of REOLYSIN(R), an agent which is proving itself in the clinic."
    "We're excited that an institution of this caliber is investing in
additional research opportunities for REOLYSIN(R)," said Dr. Karl Mettinger,
Chief Medical Officer of Oncolytics. "This comprehensive research program will
explore additional opportunities for REOLYSIN(R) in cancer treatment, while
allowing the Company to focus its resources on developing its pivotal
program."

    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 www.oncolyticsbiotech.com

    About CTRC at UTHSCSA

    The CTRC at the UT Health Science Center serves more than 4.4 million
people in the high-growth corridor of South and Central Texas, including San
Antonio, Austin, Laredo and the Rio Grande Valley. It handles more than
120,000 patient visits each year. The mission of the CTRC at the UT Health
Science Center is to promote interdisciplinary research in cancer-related
areas of basic science, clinical research, and cancer prevention and control,
and to foster the application of the results of that research in the community
setting, especially in the South Texas community. The CTRC Institute for Drug
Development (IDD) is internationally recognized for conducting the largest
oncology Phase I clinical research studies program in the world. In a Phase I
research study, a new agent for cancer is tested in human patients for the
first time. Fifteen of the cancer drugs most recently approved by the U.S.
Food and Drug Administration underwent development or testing at the IDD.

    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 CTRC at UTHSCSA-sponsored trials, 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 tolerability of REOLYSIN(R) outside a controlled test,
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. Information about CTRC at the UT Health Science
Center was provided by CTRC. The Company does not undertake to update these
forward-looking statements, except as required by applicable laws.

    %SEDAR: 00013081E          %CIK: 0001130319




For further information:

For further information: Oncolytics Biotech Inc.: Cathy Ward, 210, 1167
Kensington Cr NW, Calgary, Alberta, T2N 1X7, Tel: (403) 670-7377, Fax: (403)
283-0858, cathy.ward@oncolytics.ca; The Equicom Group: Nick Hurst, 325, 300
5th Ave. SW, Calgary, Alberta, T2P 3C4, Tel: (403) 538-4845, Fax: (403)
237-6916, nhurst@equicomgroup.com; The Investor Relations Group: Erika Moran,
11 Stone St, 3rd Floor, New York, NY, 10004, Tel: (212) 825-3210, Fax: (212)
825-3229, emoran@investorrelationsgroup.com


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