Oncothyreon appoints Diana Hausman as Vice President of Clinical Development

    SEATTLE, WA, Aug. 4 /CNW/ - Oncothyreon Inc. (Nasdaq:   ONTY) (TSX:ONY)
(the "Company") today announced the appointment of Diana Hausman, M.D., as
Vice President, Clinical Development at Oncothyreon. In this position, Dr.
Hausman will be responsible for planning and implementing the clinical
development program for the Company's pipeline of oncology product candidates.
    "Dr. Hausman is an experienced oncologist who brings an extensive
background in drug development to her new role at Oncothyreon," said Robert L.
Kirkman, M.D, President and Chief Executive Officer. "Her leadership and
knowledge of all aspects of cancer drug development will be very important as
we prepare to move both PX-866, our inhibitor of PI-3 kinase, and PX-478, our
inhibitor of hypoxia inducible factor 1-alpha, into Phase 2 trials. We are
delighted to have her join our team."
    "I am very pleased to join Oncothyreon at this particular time in the
development of PX-866 and PX-478," said Dr. Hausman. "It is a unique
opportunity to contribute to the registration strategy for two promising small
molecule product candidates, each directed at an exciting target at the
forefront of current cancer drug research."
    Dr. Hausman joins Oncothyreon from Zymogenetics, Inc., Seattle,
Washington, where she held a number of clinical research positions from 2005
to 2009, most recently as Senior Director of Clinical Research with
responsibility for all therapeutic areas, including oncology, autoimmune
disease and virology. Prior to Zymogenetics, Dr. Hausman led a global drug
development team at Berlex Inc. in Seattle from 2002 until 2005. Dr. Hausman
will assume her new role at Oncothyreon on September 1, 2009.

    About Oncothyreon

    Oncothyreon is a biotechnology company specializing in the development of
innovative therapeutic products for the treatment of cancer. Oncothyreon's
goal is to develop and commercialize novel synthetic vaccines and targeted
small molecules that have the potential to improve the lives and outcomes of
cancer patients. For more information, visit www.oncothyreon.com.

    Forward Looking Statements

    In order to provide Oncothyreon's investors with an understanding of its
current intentions and future prospects, this release contains statements that
are forward looking, including statements related to future clinical
development plans for our product candidates. These forward-looking statements
represent Oncothyreon's intentions, plans, expectations and beliefs and are
based on its management's experience and assessment of historical and future
trends and the application of key assumptions relating to future events and
    Forward-looking statements involve risks and uncertainties, including
risks and uncertainties related to Oncothyreon's business and the general
economic environment. Many of these risks and uncertainties are beyond
Oncothyreon's control. These risks, uncertainties and other factors could
cause our actual results to differ materially from those projected in
forward-looking statements. Risks, uncertainties, and assumptions include
those predicting the timing, duration and results of clinical trials, the
timing and results of regulatory reviews, the safety and efficacy of our
product candidates, and the indications for which our product candidates might
be developed. There can be no guarantee that the results of preclinical
studies or clinical trials will be predictive of either safety or efficacy in
future clinical trials. These and other risks and uncertainties are described
in the reports and other documents filed by Oncothyreon Inc. with the SEC
and/or Canadian regulatory authorities.
    Although Oncothyreon believes that any forward-looking statements
contained herein are reasonable, it can give no assurance that its
expectations are correct. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement. For a detailed
description of the risks and uncertainties associated with Oncothyreon, you
are encouraged to review the official corporate documents filed with the
securities regulators in the United States on U.S. EDGAR and in Canada on
SEDAR. Oncothyreon is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as a
result of new information, future events, or otherwise.

For further information:

For further information: Investor and Media Relations Contact: Julie
Rathbun, Rathbun Communications, (206) 769-9219, ir@oncothyreon.com

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