Oncolytics Biotech® Inc. Collaborators to Present Positive Brain Cancer Clinical Trial Data at the 50th Annual ASCO Meeting

CALGARY, May 20, 2014 /PRNewswire/ – Oncolytics Biotech Inc. (“Oncolytics”)
(TSX:ONC) (NASDAQ:ONCY) today announced that an abstract detailing
early results from translational study looking at the intravenous
administration of REOLYSIN® to patients with primary or metastatic brain tumors is now available on
the ASCO Annual Meeting abstract website at http://abstracts.asco.org. The conference is being held from May 30th to June 3rd, 2014 in Chicago, Illinois.

“Treatment options for patients with brain cancer often include invasive
surgery and local administration of therapeutic agents,” said Dr. Brad
Thompson, President and CEO of Oncolytics. “With this early data
suggesting that reovirus can cross the blood brain barrier, it may
provide physicians with another, less invasive option in the treatment
of both primary brain cancer and metastatic disease associated with
other cancer types, which is estimated to occur in about one quarter of
all cancer cases where it spreads through the body.”

The abstract, titled “Oncolytic wild-type reovirus infection in brain
tumors following intravenous administration in patients,” contends that
intravenous delivery to brain tumors would be easier, cheaper and more
acceptable to patients than intralesional administration. To date, no
oncolytic virus has been shown to infect brain tumors following
intravenous delivery. The trial aims to identify whether wild-type
reovirus can cross the blood brain barrier and infect brain tumors
following intravenous administration. It is an open-label,
non-randomized, single centre study of intravenous wild-type reovirus
administered to patients prior to planned surgery for recurrent high
grade glioma or metastatic brain tumors. In total, 12 patients will be
treated with a single infusion of 1×1010 TCID50 of wild-type reovirus. The primary objective is to determine the
presence of wild-type reovirus in the resected tumours as assessed by
immunohistochemistry, RNA in-situ hybridization and retrieval of
infectious virions.

Three patients have completed the study to date, including one with
glioblastoma multiforme, one with grade 3 oligodendroglioma and one
with colorectal brain metastasis. Two of the three patients were taking
high dose steroids. All three resected patient tumours contained
wild-type reovirus RNA and protein. There was evidence for wild-type
reovirus productive infection in two of the tumours. Grade 3-4 adverse
reactions were neutropenia in one patient and lymphopenia in all three
patients. Based on the findings, the researchers concluded they have
shown for the first time that an oncolytic virus, wild-type reovirus,
infects and replicates in brain tumors following intravenous
administration. It is anticipated this trial could pave the way for
phase I/II trials and combination studies using wild-type reovirus in
patients with high grade gliomas and brain metastases.

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 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements, including the Company’s expectations
related to the translational study in brain cancer, future trials in
this indication, 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, development and
manufacturing of pharmaceuticals, changes in technology, general
changes to the economic environment 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 should consider statements that
include the words “believes”, “expects”, “anticipates”, “intends”,
“estimates”, “plans”, “projects”, “should”, or other expressions that
are predictions of or indicate future events or trends, to be uncertain
and forward-looking. 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.