Oncolytics Biotech Inc. Announces Start of Patient Enrolment in Translational Clinical Trial Investigating REOLYSIN(R) in Patients with Metastatic Colorectal Cancer

    CALGARY, Jan. 27 /CNW/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC,
NASDAQ:  ONCY) announced today that patient enrolment has begun in a U.K.
translational clinical trial investigating intravenous administration of
REOLYSIN(R) in patients with metastatic colorectal cancer prior to surgical
resection of liver metastases. The principal investigator is Professor Alan
Melcher of St. James's University Hospital.
    "This study allows us to assess a resected tumour after REOLYSIN(R)
treatment has been administered, giving us vital information about how
effective REOLYSIN(R) delivery really is in patients," said Prof. Melcher.
"REOLYSIN(R) will be given to patients before their planned operation, which
is part of the patient's standard clinical care. In addition to possible
benefit to patients, this data will tell us more about how REOLYSIN(R) kills
cancer cells; helping to guide future research and development of the agent."
    The trial (REO 013) is an open-label, non-randomized, single centre study
of REOLYSIN(R) given intravenously to patients for five consecutive days in
advance of their scheduled operations to remove colorectal cancer deposits
metastatic to the liver. Patients will comprise two groups receiving
REOLYSIN(R), either at an early (21 to 10 days) or late time point (less than
10 days) before surgical resection. After surgery, the tumour and surrounding
liver tissue will be assessed for viral status and anti-tumour effects.
    "We are pleased that our U.K. colleagues are sponsoring additional
clinical research using REOLYSIN(R)," said Dr. Brad Thompson, President and
CEO of Oncolytics. "With the U.S. National Cancer Institute trials underway,
three REOLYSIN(R) trials are now being sponsored by our collaborators."
    The primary objectives of the trial are to assess the presence,
replication and anti-cancer effects of reovirus within liver metastases after
intravenous administration of REOLYSIN(R) by examination of the resected
tumour. Secondary objectives include assessing the anti-tumour activity and
safety profile of REOLYSIN(R), and monitoring the humoral and cellular immune
response to REOLYSIN(R).
    Eligible patients include those with histologically proven colorectal
cancer, planned for potentially curative surgical resection of liver
metastases. Up to 20 patients will receive one cycle of treatment in this
trial, with approximately 10 in each of the early and late virus groups.
    The University of Leeds is covering all costs of the trial, while
Oncolytics will provide REOLYSIN(R).

    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 Company's expectations related to
the U.K. translational study for patients with metastatic colorectal cancer
with liver metastases, 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 tolerability of REOLYSIN(R) outside a controlled test,
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, except as required by applicable laws.

    %SEDAR: 00013081E          %CIK: 0001130319

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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