Oncolytics Biotech Inc. Research Collaborators Demonstrate Reovirus/Gemcitabine Combination Has Synergistic Effect Against Human Colon Cancer Cell Lines



    CALGARY, April 17 /CNW/ - Oncolytics Biotech Inc. ("Oncolytics")
(TSX:ONC, NASDAQ:  ONCY) announces that a poster by Dr. Maureen E. Lane et al.
of Cornell University, New York, entitled "In Vivo Synergy between Oncolytic
Reovirus and Gemcitabine in Ras-Mutated Human HCT116 Xenografts" is scheduled
to be presented today at the American Association for Cancer Research (AACR)
Annual Meeting in Los Angeles, CA. The meeting runs from April 14-18, 2007.
    The researchers found that treatment of human colon cancer cell lines
with the combination of REOLYSIN(R) and gemcitabine resulted in both in vitro
and in vivo synergy. There was no toxicity associated with the combined
treatment. Tumours treated with the combination were significantly smaller (by
area and weight) than tumours in control groups or tumours treated with either
agent alone. The researchers concluded that the synergistic combination of
REOLYSIN(R) and gemcitabine is a promising therapeutic regimen for study in
clinical trials.
    "It is rare to see the virtual elimination of tumours as well as the
long-lasting therapeutic effect that we have observed from this study," said
Dr. Brad Thompson, President and CEO of Oncolytics. "We are very encouraged by
these results and look forward to testing this particular treatment
combination in our upcoming human systemic administration trial in the U.K."
    The poster 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 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 conference with respect to REOLYSIN(R), the Company's
expectations related to the results of trials investigating delivery of
REOLYSIN(R), 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 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. The Company does not undertake to
update these forward-looking statements.

    %SEDAR: 00013081E




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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