CALGARY, AB – October 5, 2001 – Oncolytics Biotech Inc. (TSE: ONC), (NASDAQ: ONCY), has received approval from the NASDAQ Stock Market to begin trading today on the NASDAQ Small-Cap Market under the ticker symbol “ONCY.”

“This listing marks an important step toward the future growth of Oncolytics and realizes one of the corporate goals we established for 2001,” said Dr. Brad Thompson, President and Chief Executive Officer of Oncolytics. “By expanding our trading to NASDAQ, Oncolytics will be better positioned to access the U.S. capital markets, while also benefiting from a larger pool of potential investors.”

In May of 2001, the Company filed an investigational new drug submission for a Phase II clinical trial of REOLYSIN® for the treatment of Stage T2A prostate cancers. In November of 2000, Oncolytics entered into a worldwide licensing agreement with Pfizer Inc. for the development and marketing of the reovirus for animal health applications.

About Oncolytics Biotech
Oncolytics is a Calgary-based biotechnology company focused on the development of the human reovirus -based product, REOLYSIN®, as a potential cancer therapeutic. Oncolytics researchers have demonstrated that reovirus is able to selectively kill cancer cells and, in vitro, kill human cancer cells derived from many types of cancer including breast, prostate, pancreatic and brain tumours. Research has also yielded successful cancer treatment results in a number of animal models. 

To find out more about Oncolytics Biotech Inc. (TSE: ONC), (NASDAQ: ONCY), visit the Company’s website

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 ability to broaden its investor base in the United States, the potential of REOLSIN® as a cancer therapeutic, and the belief that Ras pathway has broad potential in the treatment of many cancers, 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® as a cancer treatment, the success and timely completion of clinical studies and trials, the Company’s ability to successfully commercialize REOLYSIN®, 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.