Oncolytics Biotech Inc. Collaborators to Present REOLYSIN(R) Clinical Trial Results and Preclinical Research at Upcoming Conferences

    CALGARY, Sept. 22 /CNW/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ:  
ONCY) today announced the participation of five of its collaborators and their
schedule of presentations at four conferences through November 15, 2008
covering clinical trial results and preclinical research on REOLYSIN(R).
    "It's an important time for Oncolytics as we begin to share additional
results of our ongoing clinical trial and preclinical research programs for
REOLYSIN(R)," said Dr. Brad Thompson, President and CEO of Oncolytics. "It is
the results of these trials that should help us to determine the late-stage
clinical path forward for REOLYSIN(R)."
    Dr. Kevin Harrington and colleagues are scheduled to present a poster
presentation entitled "Phase I Trial of Oncolytic Reovirus (Reolysin) in
Combination with Carboplatin/Paclitaxel in Patients with Advanced Solid
Cancers" at the International Society for Biological Therapy of Cancer (iSBTc)
annual meeting, being held in San Diego, California from October 31-November
2, 2008.
    Prof. Hardev Pandha and colleagues are scheduled to present a poster
presentation entitled "A Phase I Study to Evaluate the Feasibility, Safety,
and Biological Effects of Intravenous Administration of a Wild-Type Reovirus
(REOLYSIN(R)) in Combination with Docetaxel to Patients with Advanced
Malignancies" at the iSBTc annual meeting.
    Dr. Monica Mita et al is scheduled to make two oral presentations, both
entitled "A Phase II Study of Intravenous Reolysin (Wild Type Reovirus) in the
Treatment of Patients with Bone and Soft Tissue Sarcomas Metastatic to the
Lung" at the Chemotherapy Foundation Symposium XXVI, being held in New York
from November 4-8, 2008 and also at the Connective Tissue Oncology Society
(CTOS) meeting, being held in London, U.K. from November 13-15, 2008.
    Dr. Anders Kolb and colleagues are scheduled to deliver a poster
presentation entitled "Systemic Administration of Reolysin Inhibits Growth of
Human Sarcoma Xenografts Alone and in Combination with Cisplatin and
Radiation" at the CTOS meeting.
    Prof. Hardev Pandha and colleagues are scheduled to deliver a poster
presentation at the EORTC-AACR-NCI Symposium entitled "Synergistic Anti-Tumour
Activity of Oncolytic Reovirus and Docetaxel in a PC-3 Prostate Cancer Mouse
Model" at the EORTC-AACR-NCI Symposium on Molecular Targets and Cancer
Therapeutics being held in Geneva, Switzerland, from October 21-24, 2008.
    Dr. Shizuko Sei et al is scheduled to deliver a poster presentation
entitled "In Vivo Efficacy and Replication Dynamics of Intravenously
Administered Oncolytic Reovirus in Nude Mice Bearing Human Melanoma
Xenografts" at the EORTC-AACR-NCI Symposium on Molecular Targets and Cancer

    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 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 implication of the materials
presented at these meetings with respect to REOLYSIN(R), the Company's
expectations related to the results of trials investigating delivery of
REOLYSIN(R), 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
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, uncertainties related to the
regulatory process and general changes to the economic environment. 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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