Oncolytics Biotech® Inc. Completes Patient Enrollment in U.S. Phase 2 Study of REOLYSIN® in Non-Small Cell Lung

Oncolytics Biotech® Inc. Completes Patient Enrollment in U.S. Phase 2 Study of
                   REOLYSIN® in Non-Small Cell Lung Cancer

PR Newswire

CALGARY, March 5, 2013

CALGARY, March 5, 2013 /PRNewswire/ - Oncolytics Biotech Inc. ("Oncolytics")
(TSX:ONC) (NASDAQ:ONCY) today announced that it has completed patient
enrollment in a Phase 2 clinical trial evaluating intravenous administration
of REOLYSIN^® in combination with paclitaxel and carboplatin in patients with
non-small cell lung cancer (NSCLC) with Kras or EGFR-activated tumours (REO
016).

This trial  is  a single  arm,  single-stage,  open-label, Phase  2  study  of 
REOLYSIN given  intravenously  with  paclitaxel and  carboplatin  every  three 
weeks. Patients received four to six  cycles of paclitaxel and carboplatin  in 
conjunction with REOLYSIN, following  which REOLYSIN could  be continued as  a 
monotherapy.

Eligible patients included those with metastatic or recurrent NSCLC with  Kras 
or EGFR-activated tumours,  who had  not received  chemotherapy treatment  for 
their  metastatic  or  recurrent  disease.  Patients  must  have  demonstrated 
mutations in  Kras  or EGFR,  or  EGFR  gene amplification  in  their  tumours 
(metastatic or primary) in order to qualify for the trial.

The Company previously reported in November 2012 that 33 patients had received
Reovirus (REOLYSIN) (3 x  10^10 TCID[50]) intravenously daily  on days one  to 
five,  in  combination  with  carboplatin  and  paclitaxel.  Molecular   tumor 
demographics included: 16 Kras, three EGFR,  four BRAF mutations, and 10  EGFR 
amplified only. Response evaluation data reported among 30 evaluable  patients 
showed 27 patients  had stable disease  or better for  a 90% clinical  benefit 
rate (nine partial  response (PR)  (30%) and  18 stable  disease (SD)  (60%)). 
Three patients had progressive disease (PD) as their best response.

"We have seen  encouraging results in  both this and  other trials looking  at 
primary and  metastatic lung  disease  and are  continuing  to push  our  lung 
program forward on that basis," said  Dr. Brad Thompson, President and CEO  of 
Oncolytics.  "We have extended  our work in this  indication beyond this  drug 
combination  and  are  currently  evaluating  REOLYSIN  in  conjunction   with 
docetaxel or pemetrexed in a second line open-label, randomized,  non-blinded, 
Phase II clinical study sponsored by the NCIC Clinical Trials Group at Queen's
University in Kingston, Ontario that will  enroll up to 150 squamous cell  and 
adenocarcinoma of the lung patients."

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 
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 Company's  expectations related to  the 
Phase 2  non-small cell  lung cancer  trial of  REOLYSIN in  combination  with 
paclitaxel and carboplatin, and  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:

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Fax:  212.825.3229
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