OncoGenex Pharmaceuticals' Clinical Programs to be Featured in Oral Presentations at the American Society of Clinical Oncology Annual Meeting

    BOTHELL, WA and VANCOUVER, May 11 /CNW/ - OncoGenex Pharmaceuticals, Inc.
(NASDAQ:   OGXI) announced today that final survival data from a randomized
Phase 2 trial evaluating OGX-011 in combination with docetaxel versus
docetaxel alone as first-line chemotherapy in patients with metastatic
castration-resistant prostate cancer will be featured in an oral presentation
at the American Society of Clinical Oncology (ASCO) Annual Meeting. In
addition, Phase 1 clinical data evaluating OncoGenex' second product
candidate, OGX-427, will also be featured in an oral presentation at ASCO.
    Abstracts will be made available to the public online on ASCO's website,
www.ASCO.org, on Thursday, May 14 at 6:00 p.m. (EDT).
    The oral presentations are scheduled for Saturday, May 30 at the ASCO
meeting in Orlando, Florida. These formal presentations will also include new
data that has been updated since abstracts were submitted to ASCO.

    Abstract Presentation Information

    Title:    Mature results of a randomized phase II study of OGX-011 in
              combination with docetaxel/prednisone versus
              docetaxel/prednisone in patients with metastatic castration
              resistant prostate cancer
    Authors:  K. N. Chi, S. J. Hotte, E. Yu, D. Tu, B. Eigl, I. Tannock,
              F. Saad, S. North, J. Powers, E. Eisenhauer, National Cancer
              Institute of Canada Clinical Trials Group
    Date:     4:30 p.m. - 4:45 p.m. EDT, Saturday, May 30, 2009
    Location: Level 3, Chapin Theatre, W320, Orange County Convention Center
    Abstract: No. 5012

    Title:    OGX-427, a 2'methoxyethyl antisense oligonucleotide (ASO),
              against HSP27: Results of a first-in-human trial
    Authors:  S. J. Hotte, E. Y. Yu, H. W. Hirte, C. S. Higano, M. Gleave,
              K. N. Chi
    Date:     2:00 p.m. - 2:15 p.m. EDT, Saturday, May 30, 2009
    Location: Level 4, Valencia Room, W415A, Orange County Convention Center
    Abstract: No. 3506

    About OncoGenex

    OncoGenex is a biopharmaceutical company committed to the development and
commercialization of new therapies that address unmet needs in the treatment
of cancer. OncoGenex has a deep oncology pipeline, with each product candidate
having a distinct mechanism of action and representing a unique opportunity
for cancer drug development. OGX-011, the lead candidate currently completing
five Phase 2 clinical studies in prostate, lung and breast cancers, is
designed to inhibit the production of a specific protein associated with
treatment resistance; OGX-427 is in Phase 1 clinical development; SN2310 has
completed the Phase 1 clinical trial; and CSP-9222 and OGX-225 are currently
in pre-clinical development. More information about OncoGenex is available at
    OGX-011, OGX-427 and OGX-225 utilize second-generation antisense
technology, licensed from Isis Pharmaceuticals (NASDAQ:   ISIS), to effectively
target and inhibit production of specific proteins in tumor cells. OncoGenex
and Isis partnered in the successful discovery of OGX-011, OGX-427 and OGX-225
and with respect to OGX-011, in its initial development. In 2008, OncoGenex
and Isis amended their OGX-011 agreement to provide OncoGenex with sole rights
to OGX-011 and sole responsibility for development and related costs and
partnering decisions, subject to financial obligations to Isis. OncoGenex is
also solely responsible for development and related costs and partnering
decisions regarding OGX-427 and OGX-225.

    This press release contains forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995, including statements concerning the Company's key objectives for
2009, and other anticipated activities, achievements, occurrences and
performance. These statements are based on management's current expectations
and beliefs and are subject to a number of risks, uncertainties and
assumptions that could cause actual results to differ materially from those
described in the forward-looking statements. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements.
    The potential risks and uncertainties associated with forward-looking
statements include, among others, the timing and costs of clinical trials and
regulatory approvals, risks that clinical trials will not be successful or
confirm earlier or interim clinical trial results, the Company's need for
additional financing, the uncertainty associated with any potential partnering
discussions, risks relating to the development, safety and efficacy of
therapeutic drugs and potential applications for these products and the risk
factors set forth in the Company's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for fiscal year 2008 and
its Quarterly Report for the first quarter of 2009 on Form 10-Q. No assurances
can be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or that if any of them do transpire or
occur, what impact they would have on the results of operations or financial
condition of the Company. The Company undertakes no obligation to update the
forward-looking statements contained herein or to reflect events or
circumstances occurring after the date hereof.

For further information:

For further information: OncoGenex Contact: Scott Cormack, President &
CEO, (604) 630-5400, scormack@oncogenex.com; Media and Investor Contact: Jason
Spark, Porter Novelli Life Sciences, (619) 849-6005,

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