Oncothyreon's PX-866 is effective in preclinical model of pulmonary fibrosis

    SEATTLE, May 18 /CNW/ - Oncothyreon Inc. (Nasdaq: ONTY) (TSX: ONY) today
announced the presentation of data demonstrating the effectiveness of
Oncothyreon's PX-866 in a preclinical model of pulmonary fibrosis. The data
were presented earlier today by William D. Hardie, M.D., Associate Professor,
Pulmonary Medicine, Children's Hospital Medical Center, Cincinnati, Ohio, at
the American Thoracic Society International Conference in San Diego,
California. PX-866 is a small molecule inhibitor of phosphotidylinositol-3
kinase ("PI-3 kinase"), a key point of control of cellular responses including
signaling of cell survival and growth, migration and metabolism.
    "PI-3 kinase is part of a signaling pathway that is believed to play an
important role in a number of human diseases that cause fibrosis, or scarring,
of the lungs," said Dr. Hardie. "Our model in mice mimics these diseases by
activating this pathway in the lungs with a growth factor called transforming
growth factor alpha. PX-866 prevented both the deterioration in lung function
and the fibrosis normally seen in the model. These results suggest that
inhibition of the PI-3 kinase pathway might be beneficial in such human lung
diseases as idiopathic pulmonary fibrosis."
    "Although our current development program for PX-866 is focused on
cancer, we are very interested in the role the PI-3 kinase pathway is thought
to play in non-malignant diseases, including autoimmune and cardiovascular
diseases," said Robert L. Kirkman, M.D., President and CEO of Oncothyreon. "We
are pleased that Dr. Hardie plans further studies of PX-866 in pulmonary
    Oncothyreon is currently conducting a Phase 1 trial of PX-866 in patients
with advanced metastatic cancer. Preliminary data from this trial are expected
to be presented at the American Society of Clinical Oncology meeting later
this month in Orlando, Florida.

    About PX-866

    PX-866 is an inhibitor of the PI-3-kinase/PTEN/AKT pathway, an important
survival signaling pathway that is activated in many types of human cancer.
Aberrant activation and regulation of PI-3 kinase is implicated in a large
proportion of human cancers including breast, glioma, colon, ovarian, prostate
and melanoma, where it leads to increased proliferation and inhibition of
apoptosis (programmed cell death). PX-866 has been shown to induce prolonged
inhibition of tumor PI-3 kinase signaling following both oral and intravenous
administration. The compound has been shown to have anti-tumor activity both
as a single agent and in combination with other agents in a number of human
tumor models. Oncothyreon initiated a Phase 1 trial of PX-866 in patients with
advanced metastatic cancer in June 2008.

    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 preclinical and
clinical development plans for PX PX-866. 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 PX-866,
and the indications for which PX-866 might be developed. There can be no
guarantee that the results of preclinical studies 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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