Oncolytics(R) Biotech Inc. Completes Patient Enrolment in U.S. Phase 2 Sarcoma Study



    CALGARY, May 12 /CNW/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC,
NASDAQ:  ONCY) is pleased to announce today that it has successfully completed
patient enrolment in its multi-centre Phase 2 clinical trial to evaluate the
intravenous administration of REOLYSIN(R) in patients with various sarcomas
that have metastasized to the lung. A total of 52 patients have been enrolled
in the trial.
    "We are extremely pleased to have had the opportunity to participate in
this study," said Dr. Monica Mita, principal investigator at the Institute of
Drug Development (IDD), the Cancer Therapy & Research Center at the University
of Texas Health Science Center, (UTHSC), San Antonio, Texas.
    "REOLYSIN is very well tolerated and a number of patients have derived
clinical benefit. Based on the study results, which will be updated and
presented at ASCO this year, further studies are planned in patients with
sarcoma."
    The primary statistical endpoint of the trial was met in late 2008. To
meet the endpoint, at least three out of 52 patients had to experience
stabilization of disease or better for more than six months. Of the 33
patients evaluable at that time, five had experienced stable disease for
periods greater than six months, including one patient who had maintained
stable disease for more than 16 months. An additional 10 patients had
experienced stable disease for periods ranging from three to six cycles (cycle
= 28 days). Updated results are scheduled to be presented May 30, 2009 at the
American Society of Clinical Oncology (ASCO) Annual Meeting in Orlando,
Florida.

    Clinical Trial Design

    The trial (REO 014) is a Phase 2, open-label, single agent study whose
primary objective is to measure tumour responses and duration of response, and
to describe any evidence of antitumour activity of intravenous, multiple dose
REOLYSIN in patients with bone and soft tissue sarcomas metastatic to the
lung. REOLYSIN is delivered intravenously to patients at a dose of 3x1010
TCID50 for five consecutive days, every 28 days.
    Eligible patients had to have a bone or soft tissue sarcoma metastatic to
the lung deemed by their physician to be unresponsive to or untreatable by
standard therapies. These included patients with osteosarcoma, Ewing sarcoma
family tumours, malignant fibrous histiocytoma, synovial sarcoma, fibrosarcoma
and leiomyosarcoma.

    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, 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 Company's expectations related to
the U.S. Phase II sarcoma clinical trial and the Company's belief as to the
potential of REOLYSIN 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 as a
cancer treatment, the tolerability of REOLYSIN outside a controlled test, the
success and timely completion of clinical studies and trials, the Company's
ability to successfully commercialize REOLYSIN, 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, AB, 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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