Oncolytics Biotech Inc. to Present at 8th PEACe Conference on Protein Expression in Animal Cells

CALGARY, Sept. 19 /PRNewswire-FirstCall/ – Oncolytics Biotech Inc.
(“Oncolytics”) (TSX:ONC, NASDAQ:ONCY) announced that Dr. Matt Coffey, Chief
Scientific Officer of Oncolytics, is scheduled to deliver a presentation on
Thursday, September 20 entitled “Large Scale Production Process for the
Oncolytic Agent REOLYSIN(R) (Human Reovirus)” at the 8th PEACe Conference on
Protein Expression in Animal Cells in Angra dos Reis, Brazil. The conference
runs from September 16 to 20, 2007.

“REOLYSIN(R) produced using the manufacturing method described in this
presentation is currently being used in our Phase II clinical program in the
U.S. and the U.K.,” said Dr. Coffey. “In addition, development work at the
100-litre scale is currently underway.”

The abstract will be posted on the Oncolytics website today. For more
information about the conference, please visit:


    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 Phase I and Phase II human trials using
REOLYSIN(R), its proprietary formulation of the human reovirus, alone and in
combination with radiation or chemotherapy. 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 expectations related to
the manufacturing process presented at this conference, and the Company’s
belief as to the potential of REOLYSIN(R) 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(R) as a cancer treatment, the success and
timely completion of clinical studies and trials, the Company’s ability to
successfully commercialize REOLYSIN(R), 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

SOURCE Oncolytics Biotech Inc.