NEW YORK, Oct 22, 2001 /PRNewswire via COMTEX/ -- Dr. Wayne Schnarr, Vice President, Corporate Development of Oncolytics Biotech Inc. (TSE: ONC), (NASDAQ: ONCY), will present information on the Company and its progress in the development and clinical trial of REOLYSIN(R), a mammalian reovirus-based product, as a potential cancer therapeutic, at the Techvest, LLC Emerging Healthcare Forum in New York on Thursday, October 25 at 2:20 p.m. EST at the New York Hilton & Towers. 

About Oncolytics Biotech 

Oncolytics is a Calgary-based biotechnology company focused on the development of the human Reovirus (REOLYSIN(R)) as a potential cancer therapeutic. Oncolytics' researchers have demonstrated that the reovirus is able to kill cancer cells selectively and in vitro, and to kill human cancer cells derived from many types of cancer including breast, prostate, pancreatic and brain tumours. Researchers have also obtained successful cancer treatment results in a number of animal models. Oncolytics initiated its Phase I clinical trial on REOLYSIN(R) in June 2000 and in October 2001 received approval from Health Canada to initiate a clinical study of REOLYSIN(R) for the treatment of T2 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. 

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 REOLYSIN(R) 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(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.