Oncolytics Biotech(R) Inc. Announces Issuance of 32nd U.S. Patent



    CALGARY, Sept. 1 /CNW/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ:   ONCY)
("Oncolytics") today announced that it has been granted its 32nd U.S. Patent,
No. 7,582,289, entitled "Viruses for the Treatment of Cellular Proliferative
Disorders." The patent claims cover methods of using modified parapoxvirus orf
virus to treat Ras-mediated cancers.
    "This U.S. patent expands our intellectual property portfolio regarding
oncolytic viruses, in addition to reovirus, that can be modified to grow
selectively in Ras-mediated cancers," said Mary Ann Dillahunty, Vice President
of Intellectual Property for Oncolytics. "Including the patent issued today,
Oncolytics has now secured five U.S. patents covering the use of other
oncolytic viruses to treat Ras-mediated cancers. Patents covering similar
subject matter have been granted in other jurisdictions as well."

    
    U.S. Patents issued previously include:

    -   U.S. Patent No. 6,596,268, which covers adenoviruses modified in the
        VAI gene;

    -   U.S. Patent No. 7,344,711, which covers adenoviruses modified in the
        VAI and VAII genes;

    -   U.S. Patent No. 6,649,157, which covers herpes simplex virus (HSV)
        mutated in the ?134.5 gene; and

    -   U.S. Patent No. 7,252,817, which covers modified HSV, where the ?
        134.5 gene is lacking, inhibited or mutated such that PKR activation
        is not blocked.
    

    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 news release contains forward-looking statements, within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements, including among others, the Company's belief as to
the importance of the issuance of this patent, the safety and efficacy of the
reovirus, the Company's expectations as to the potential applications of the
patented technology and other statements relating to anticipated developments
in the Company's business and technologies, involve known and unknown risks
and uncertainties that 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 efficacy of REOLYSIN as a cancer
treatment, the success and timely completion of clinical studies and trials,
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, except as required by applicable
laws.

    %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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