Media Advisory - Oncolytics Biotech® Inc. to Present at 11th Annual Needham Healthcare Conference

CALGARY, April 4, 2012 /CNW/ - Dr. Brad Thompson, President and CEO of Oncolytics Biotech Inc. (TSX: ONC) (NASDAQ: ONCY), will present a corporate overview of the Company at the 11^th Annual Needham Healthcare Conference on Wednesday, April 4^th, 2012 at 11:20 a.m. ET. The conference will take place on April 3^rd and 4^th at the New York Palace Hotel in New York, NY.

A live audio link to the webcast presentation is available at: http://wsw.com/webcast/needham51/oncy/ or on the company's website at www.oncolyticsbiotech.com.   It is recommended that listeners log on 15 minutes in advance of the presentation to register and download any necessary software.

An audio replay will be accessible approximately one hour following the presentation on the Oncolytics website.

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 human trials including a Phase III trial in head and neck cancers using REOLYSIN^®, its proprietary formulation of the human reovirus. For further information about Oncolytics, please visit: www.oncolyticsbiotech.com.

The presentation and webcast times are subject to change. This release and the presentation related thereto contain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control and which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these 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.

For further information:

The Equicom Group
Nick Hurst
300 5^th Ave. SW, 10^th Floor
Calgary, Alberta  T2P 3C4
Tel: [phone]
Fax: [phone]
[email protected]

IRG, LLC
Erika Moran
20th Floor, 1251 Avenue of the Americas
New York, NY  10020
Tel:  [phone]
Fax:  [phone]
[email protected]