Oncolytics Biotech® Inc. Collaborators Present Data from U.K. Translational Colorectal Cancer Study at the International Symposium on CTL and Immunostimulation

CALGARY, Oct. 26 /PRNewswire-FirstCall/ – Oncolytics Biotech Inc. (“Oncolytics”)
(TSX:ONC, NASDAQ:ONCY) announced today that interim data from a U.K.
translational clinical trial (REO 013) investigating intravenous
administration of REOLYSIN® in patients with metastatic colorectal cancer prior to surgical
resection of liver metastases was presented at the International
Symposium on Cytotoxic T-lymphocytes (CTL) and Immunostimulation being
held in Pamplona, Spain. The presentation was given by principal
investigator Professor Alan Melcher of Leeds Institute of Molecular
Medicine, University of Leeds, UK.

The trial is an open-label, non-randomized, single centre study of
REOLYSIN given intravenously to patients for five consecutive days in
advance of their scheduled operations to remove colorectal cancer
deposits metastatic to the liver. Patients were treated with
intravenous REOLYSIN at 1×1010 TCID50, one to three weeks prior to planned surgery. After surgery, the tumour
and surrounding liver tissue was assessed for viral status and
anti-tumour effects.

On histological analysis of six patients to date, there was evidence of
replication and tumour cell death in the tumours of four of six
patients, two of which had confirmed Kras mutations in codon 12 (the most common ras mutation).  The other two of
these four patients’ samples were still being analyzed for Kras status. There was no evidence of replication in samples analyzed from
two of the six patients.  The researchers concluded that reovirus can
be successfully delivered specifically to colorectal liver metastases
following intravenous administration as a monotherapy and that
pre-operative treatment was safe, suggesting that application of
oncolytic viral therapy can be widened to the neoadjuvant setting.
Further translational studies with biological endpoints, particularly
co-administering reovirus with chemotherapy, would further inform how
to maximize the efficacy of this novel biotherapy in cancer patients.

“This compelling data shows that following even a single course of
treatment with REOLYSIN that reovirus can target and replicate
specifically in metastatic colorectal cancer tumours and that there is
a correlation with Kras status,” said Dr. Brad Thompson, President and CEO of Oncolytics. “The
interim findings from this study are further supportive of our decision
to conduct a Phase I study of REOLYSIN in combination with FOLFIRI in
patients with oxaliplatin refractory/intolerant Kras mutant colorectal cancer.”

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 implication of
materials presented at the International Symposium on CTL and
Immunostimulation with respect to REOLYSIN, and the Company’s belief as
to the potential of REOLYSIN as a cancer therapeutic, 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
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 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.