Oncolytics Biotech® Inc. Announces Addition to Senior Management Team

    Oncolytics Biotech® Inc. Announces Addition to Senior Management Team

PR Newswire

CALGARY, Feb. 20, 2013

CALGARY, Feb. 20, 2013 /PRNewswire/ - Oncolytics Biotech Inc. ("Oncolytics" or
the "Company") (TSX: ONC, NASDAQ: ONCY) today announced the appointment of Dr.
Jeremy Grushcow to the role of General Counsel.

Dr. Grushcow has more than ten years' experience in the legal profession
representing public and private entities, as well as venture capital and
private equity firms in the acquisition, financing, development, operation and
sale of pharmaceutical and life sciences companies in the U.S. and Canada. He
holds a B.Sc. from the University of Toronto, a Ph.D. in molecular genetics
and cell biology from the University of Chicago, and a J.D. with honors from
the University of Chicago Law School. He has been admitted to the Bar in
Ontario, New York and Illinois. Prior to joining Oncolytics, Dr. Grushcow was
a partner in the Norton Rose LLP pharmaceuticals and life sciences group. He
also previously held positions in the Shearman & Sterling LLP capital markets
group and the Kirkland & Ellis LLP intellectual property transactions group.

"We are delighted to welcome Jeremy to our management team," said Dr. Brad
Thompson, President and CEO of Oncolytics. "He brings a unique combination of
scientific, legal and business expertise that will support Oncolytics'
continued evolution and we look forward to benefiting from his specific
experience and insight."

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, including such things as the appointment and performance of a General
Counsel, 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.

Contact:

The Equicom Group
Nick Hurst
300 5^th Ave. SW, 10^th Floor
Calgary, Alberta T2P 3C4
Tel: 403.218.2835
Fax: 403.218.2830
nhurst@equicomgroup.com

Dian Griesel, Inc.
Susan Forman
396 West Broadway, 2^nd Floor
New York, NY 10012
Tel: 212.825.3210
Fax: 212.825.3229
sforman@dgicomm.com