Oncothyreon initiates Phase 1b trial of PX-12 in patients with advanced metastatic cancer

    BELLEVUE, WA, June 11 /CNW/ - Oncothyreon Inc. (Nasdaq:   ONTY) (TSX: ONY)
(the "Company") today announced that the first patient has been treated in a
Phase 1b clinical trial of PX-12 in patients with advanced metastatic cancer.
PX-12 is a proprietary small molecule inhibitor of thioredoxin, a protein that
regulates diverse molecular pathways that contribute to the growth, survival
and drug resistance of many cancers.
    The primary objective of the Phase 1b dose-escalation trial is to
determine the safety and tolerability of a 72-hour continuous infusion of
PX-12 given on the first three days of a 21-day cycle. Other objectives of the
trial include an evaluation of the pharmacokinetics and pharmacodynamics of
the prolonged infusion, together with identification of any anti-tumor
activity. The trial is expected to enroll up to 28 patients at three centers
in the United States.

    About PX-12

    PX-12 is a small molecule designed to inhibit thioredoxin-1. Increased
levels of thioredoxin-1 have been noted in many types of cancer cells,
including hepatoma, lung cancers, squamous cervical carcinoma, primary gastric
cancers and colorectal carcinomas. Increased levels of thioredoxin-1 are
associated with decreased sensitivity to a variety of common chemotherapy
agents and may cause or contribute to drug resistance.
    An initial Phase 1 trial of PX-12 in 38 patients with advanced metastatic
cancer showed that PX-12 was well tolerated and produced a decrease in plasma
concentrations of thioredoxin that was significantly correlated with increased
patient survival. Fifteen of the 38 patients achieved stable disease of up to
322 days. Oncothyreon is also currently conducting a Phase 2 trial of PX-12
given as a 3-hour infusion daily for five days of a 21-day cycle in patients
with advanced pancreatic cancer who have progressed on gemcitabine or a
gemcitabine-containing regimen.

    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 the therapeutic and
commercial potential of PX-12; future clinical development plans; the details
of clinical trials; and the anticipated future size of the market for PX-12.
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 circumstances.
    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, and the safety and efficacy of
PX-12. There can be no guarantee that the results of earlier trials will be
predictive of either safety or efficacy in future 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 by Oncothyreon
Inc. with the securities regulators in United States and Canada with the SEC
and 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.

    Additional Information

    Additional information relating to Oncothyreon can be found on U.S. EDGAR
at www.sec.gov and on SEDAR at www.sedar.com.

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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