Oncolytics Biotech Inc. Announces the Appointment of Dr. Alan J. Tuchman as Chief Medical Officer

CALGARY, Sept. 28, 2012 /PRNewswire/ – Oncolytics Biotech Inc. (“Oncolytics” or
the “Company”) (TSX:ONC, NASDAQ:ONCY) today announced the appointment
of Dr. Alan Tuchman to the role of Chief Medical Officer and Senior
Vice President, Clinical and Medical Development.

Dr. Tuchman holds a B.S. from the City College of New York, an M.D. from
the University of Cincinnati, College of Medicine and an MBA from the
Columbia University, School of Business. Throughout his medical career
he has held numerous academic and administration appointments at a
variety of medical schools in the New York area and is currently
Clinical Professor of Neurology at the New York Medical College in
Valhalla, New York, and engaged in the private practice of neurology.
Dr. Tuchman has staff privileges at the Montefiore Medical Centre,
where he is the Attending, Department of Neurology. He holds membership
in numerous professional societies, and has sat on advisory boards,
boards of trustees and committees for a number of state and regional
groups as well as hospitals, focused on neurological diseases.

Dr. Tuchman also brings substantial capital markets experience to this
new role. He spent nearly four years as a sell-side analyst with Oscar
& Son, advancing to the role of Senior Vice President, Equity
Research. Subsequently he was a Principal at Xmark Funds, a
biotechnology investment fund. Today he is a Managing Director at
MedPro Investors LLP, an angel investment group focused on
biotechnology companies. Dr. Tuchman is also the Chairman (previously
Chairman and Chief Executive Officer) of Neurophysics Inc., a developer
of innovative, non-invasive medical devices. He has served on the
Company’s Scientific Advisory Board and been a consultant to Oncolytics
since 2001.

“Alan brings a powerful combination of extensive medical and capital
markets expertise to his new role at Oncolytics,” said Dr. Brad
, President and CEO of Oncolytics. “We are pleased to have an
individual of his caliber formally join our management team and expect
him to make a substantial contribution, building on his long term
association with the Company.”

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 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 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, the efficacy of REOLYSIN as a
cancer treatment, the success and timely completion of clinical studies
and trials, 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.