Oncolytics Biotech® Inc. Announces Overall and KRAS-Mutated Patient Data from U.S. Randomized Phase 2 Pancreatic Cancer Study

TORONTO, Sept. 16, 2014 /PRNewswire/ – Oncolytics Biotech® Inc. (“Oncolytics”) (TSX:ONC, NASDAQ:ONCY) today announced overall and
KRAS-mutated patient data from a two-arm randomized phase 2 study of
carboplatin, paclitaxel plus REOLYSIN® (test arm) versus carboplatin and paclitaxel alone (control arm) in the
first line treatment of patients with recurrent or metastatic
pancreatic cancer (NCI-8601). The trial is sponsored by the U.S.
National Cancer Institute (NCI) through a clinical trials agreement
between the Cancer Therapy Evaluation Program, Division of Cancer
Treatment and Diagnosis and Oncolytics. Oncolytics provided clinical
supplies of REOLYSIN® for the study and paid for the immune and genetic testing of the

Summary Findings
The overall objectives of the study were to determine the progression
free survival of the overall patient population and the patient
population according to KRAS mutation status.

Overall patient population
The study enrolled 73 patients; 37 were in the control arm, 36 were in
the test arm. The median progression free survival for the control arm
was 5.16 months (95% confidence interval (CI) = 2.267 to 6.176) versus
5.26 months for the test arm (95% CI = 3.187 to 6.307) (see Figure 1).

Figure 1 – Kaplan-Meier plot of the Progression Free Survival (PFS) of
the control arm versus the test arm of the overall patient population.
See Figure 1 link at bottom of this release.

KRAS mutated patient population
As part of the study design, patients were screened for KRAS status at
codon 12. Of the 60 patients where KRAS status could be determined
(mutant vs wild type), 44 (73%) had mutations in the KRAS gene (n = 23
in the control arm, n = 21 in the test arm). Median progression free
survival in the test arm was 5.72 months (95% CI = 3.187 to 6.767)
versus 4.11 months in the control arm (95% CI = 1.938 to 6.176) (see
Figure 2). This translates into a 1.61 month (39%) improvement in
median progression free survival in the test arm versus the control
arm. Three patients on the test arm and one on the control arm had not
progressed as of the time of analysis.

Figure 2 – Kaplan-Meier plot of the Progression Free Survival (PFS) of
the control arm versus the test arm of the KRAS mutated patient
population. See Figure 2 link at bottom of this release.

Crossover patient population
Patients on the control arm who progressed on carboplatin and paclitaxel
had the option of adding REOLYSIN® to their regimen. At the time of the analysis, 16 patients crossed over
to the test arm regime. The best responses after crossover were one
partial response (PR), six stable disease (SD), seven progressive
disease (PD), and two not evaluable, giving a disease control rate
(complete response (CR) + PR + SD) of 50% in the carboplatin and
paclitaxel failed group.

“This is the first randomized clinical evidence that screening patients
for their KRAS status could influence their clinical outcomes when
treated with a drug regime that includes REOLYSIN®,” said Dr. Alan Tuchman, Senior Vice President, Medical and Clinical
Affairs & Chief Medical Officer of Oncolytics. “These findings support
previous evidence of REOLYSIN® being active in cancer cells with an activated RAS pathway and warrants
confirmation of KRAS status as a potential predictive biomarker in
future studies.”

The study was an open-label, multi-institution, two-arm phase 2
randomized study of patients with metastatic pancreatic cancer.
Patients were randomized to receive either carboplatin, paclitaxel plus
REOLYSIN® (test arm) or carboplatin and paclitaxel alone (control arm). Patients
in both arms received treatment every three weeks (21-day cycles) and
standard intravenous doses of paclitaxel and carboplatin on day one
only. In the test arm, patients also received intravenous REOLYSIN® at a dose of 3×1010 TCID50 on days one through five. Tumor response assessment was done by
computed tomography (CT) scan and conducted every eight weeks. Patients
who progressed on carboplatin and paclitaxel (control arm) had REOLYSIN® added. If patients experienced significant toxicity related to
carboplatin and/or paclitaxel, they could continue with single agent

The primary endpoint of the trial is to assess improvement in
progression-free survival with REOLYSIN®, carboplatin and paclitaxel relative to carboplatin and paclitaxel
alone in patients with metastatic pancreatic cancer. The primary
endpoint is progression free survival in both arms. Secondary endpoints
include safety, overall response rate, overall survival, immune factors
and to prospectively establish and validate the relationship between
Ras mutations in tumor samples and response to REOLYSIN®.

Conference Call Details
Dr. Brad Thompson, President and CEO of Oncolytics, will host a
conference call and webcast with slide presentation on Tuesday
September 16, 2014, at 4:30 p.m. MT (6:30 p.m. ET) to discuss in more
depth the data from the randomized Phase 2 study in pancreatic cancer
(NCI-8601). To access, the audio of the conference call by telephone,
dial 1-647-427-7450 or 1-888-231-8191. A live multimedia webcast will
be available at the following link: http://event.on24.com/r.htm?e=852599&s=1&k=641116B118D98458B495B7FACA96A1F6 or through the Company’s website at http://www.oncolyticsbiotech.com/for-investors/presentations. Please connect at least 10 minutes prior to the webcast to ensure
adequate time for any software to download. A replay of the multimedia
webcast will be available at http://www.oncolyticsbiotech.com/for-investors/presentations and the audio portion will also be available by telephone through
Tuesday September 23, 2014. To access the telephone replay, dial
1-416-849-0833 or 1-855-859-2056 and enter reservation number 6077886
followed by the number sign.

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 later-stage,
randomized human trials in various indications 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 the U.S. Securities Act of 1933, as amended, and U.S.
Securities Exchange Act of 1934, as amended, and forward-looking
information within the meaning of Canadian securities laws. Statements,
other than statements of historical facts, included in this press
release that address activities, events or developments that Oncolytics
expects or anticipates will or may occur in the future, including such
things as, the Company’s expectations related to the NCI-8601
randomized Phase 2 study of REOLYSIN in combination with carboplatin
and paclitaxel in patients with pancreatic cancer, the Company’s belief
as to the potential of REOLYSIN as a cancer therapeutic,
and other such matters are forward-looking statements and
forward-looking information and 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 and
forward-looking information. Such risks and uncertainties include,
among others, risks related to the statistical sufficiency of patient
enrollment numbers in separate patient groups, the availability of
funds and resources to pursue research and development projects, the
efficacy of REOLYSIN as a cancer treatment, the tolerability of
REOLYSIN outside a controlled test, 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 and uncertainties related to the
regulatory process. 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 statement and forward-looking information. Investors
are cautioned against placing undue reliance on forward-looking
statements and forward-looking information. The Company does not
undertake to update these forward-looking statements and
forward-looking information, except as required by applicable laws.

SOURCE Oncolytics Biotech Inc.

Image with caption: “Figure 1 – Kaplan-Meier plot of the Progression Free Survival (PFS) of the control arm versus the test arm of the overall patient population (CNW Group/Oncolytics Biotech Inc.)”. Image available at: http://photos.newswire.ca/images/download/20140916_C9192_PHOTO_EN_42792.jpg

Image with caption: “Figure 2 – Kaplan-Meier plot of the Progression Free Survival (PFS) of the control arm versus the test arm of the KRAS mutated patient population (CNW Group/Oncolytics Biotech Inc.)”. Image available at: http://photos.newswire.ca/images/download/20140916_C9192_PHOTO_EN_42793.jpg