Oncolytics Biotech® Inc. Announces Third Quarter 2013 Results

CALGARY, Nov. 7, 2013 /PRNewswire/ – Oncolytics Biotech Inc. (TSX:ONC,
NASDAQ:ONCY) (“Oncolytics” or the “Company”) today announced its
financial results and operational highlights for the quarter ended
September 30, 2013.

“In recent months we have reported positive data in our squamous cell
and non-squamous cell lung clinical trials both in terms of tumour
response and survival,” said Dr. Brad Thompson, President and CEO of
Oncolytics. “On the strength of this reported data, we intend to
conduct randomized clinical studies in these indications that will
further expand our lung cancer program.”

Selected Highlights

Since June 30, 2013, the Company has made a number of announcements
including:

Clinical Trial Results

• Reporting positive final results from a U.S. Phase 2 study examining the
  use of REOLYSIN^® in combination with carboplatin and paclitaxel in patients with stage
  IV non-small cell lung cancer (NSCLC) with Kras or EGFR-activated tumors (REO 016). Response evaluation for 36
  evaluable patients showed 11 partial responses (PR) (30%) (EGFR
  amplified, five; BRAF two; Kras, three; EGFR mutated, one), 21 stable disease (SD), and four
  progressive disease (PD). The data also correlated a number of
  molecular abnormalities with best response, progression free survival
  (PFS) and one-year survival. Current data in these patients
  demonstrates that 20 of 36 evaluable patients (56%) survived a year or
  more. There were 13 patients with only EGFR mutations or
  amplifications, of whom nine (69.2%) survived a year or longer. Four of
  four (100%) patients with BRAF and EGFR amplification survived a year
  or longer; and

• Reporting final tumour response and progression free survival (“PFS”)
  data from a U.S. Phase 2 clinical trial in patients with squamous cell
  carcinoma of the lung (SCCLC) using intravenous administration of
  REOLYSIN^® in combination with carboplatin and paclitaxel (REO 021). Of the 25
  evaluable patients who had more than one cycle of therapy, 23 (92%)
  exhibited overall tumour shrinkage. When evaluated for best response,
  which is the best percentage response recorded on study compared to
  baseline, 10 patients (40%) had partial responses (PRs), while a
  further 14 (56%) showed stable disease (SD), and one (4%), had
  progressive disease (PD). Using RECIST criteria to evaluate best
  overall response, 10 patients (40%) had partial responses (PRs), 12
  (48%) showed stable disease (SD) and three (12%), had progressive
  disease (PD).  31.8% of patients with sufficient follow up had a PFS
  greater than six months.

To view the Company’s Fiscal 2013 Third Quarter Consolidated Financial
Statements, related Notes to Consolidated Financial Statements, and
Management’s Discussion and Analysis, please see the Company’s
quarterly filings which will be available on www.sedar.com and on www.oncolyticsbiotech.com/financials. 

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the
development of oncolytic viruses as potential cancer therapeutics.
Oncolytics’ clinical program includes a variety of human trials
including a Phase III trial in head and neck cancers using REOLYSIN,
its proprietary formulation of the human reovirus. For further
information about Oncolytics, please visit: www.oncolyticsbiotech.com.

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 belief as
to the potential of REOLYSIN as a cancer therapeutic; the Company’s
expectations as to the success of its research and development programs
in 2013 and beyond, the Company’s planned operations, the value of the
additional patents and intellectual property; the Company’s
expectations related to the applications of the patented technology;
the Company’s expectations as to adequacy of its existing capital
resources; the design, timing, success of planned clinical trial
programs; and other statements related to anticipated developments in
the Company’s business and technologies 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, except as required by applicable
laws. 

SOURCE Oncolytics Biotech Inc.