Oncolytics Biotech® Inc. Meets Primary Overall Statistical Endpoint in U.S. Phase 2 Study of REOLYSIN® in Squamous

 Oncolytics Biotech® Inc. Meets Primary Overall Statistical Endpoint in U.S.
           Phase 2 Study of REOLYSIN® in Squamous Cell Lung Cancer

PR Newswire

CALGARY, March 28, 2013

CALGARY, March 28, 2013 /PRNewswire/ - Oncolytics Biotech Inc. ("Oncolytics"
or the "Company") (TSX:ONC) (NASDAQ:ONCY) today announced that it has met the
primary overall statistical endpoint in its U.S. Phase 2 single arm clinical
trial in patients with squamous cell carcinoma of the lung (SCCLC) using
intravenous administration of REOLYSIN in combination with carboplatin and
paclitaxel in patients with metastatic stage IIIB, or stage IV, or recurrent
SCCLC who are chemotherapy naïve for their metastatic or recurrent cancer (REO
021).

The study is a two-stage design  with a primary overall endpoint of  objective 
tumor response rate. The Company saw  a sufficient number of responses in  the 
first stage of the  study to proceed  with enrollment in  the second stage.  A 
total of up to 36 patients were to be studied in the second stage. The primary
endpoint was  met if  nine or  more patients  in both  stages combined  had  a 
partial response (PR) or better,which yields  a true response rate of 35%  or 
more. This endpoint was met after 21 evaluable patients were treated on study,
nine of which exhibited PRs, while  a further nine showed stable disease  (SD) 
and three,  progressive disease  (PD), for  a  response rate  of 42.8%  and  a 
disease control rate (complete response (CR) + PR + SD) of 85.7%.

"We are pleased to have  met the response rate  endpoint, which builds on  the 
data we announced from the first stage of this study," said Dr. Brad Thompson,
President and CEO of Oncolytics. "Based on the positive data seen to date,  we 
intend to conduct further studies in this indication."

The secondary objectives of the trial, for which data has yet to be  released, 
are to assess progression-free survival and overall survival for the treatment
regimen in  the study  population;  to determine  the proportion  of  patients 
receiving the above treatment who are alive and free of disease progression at
six months; and to assess the safety and tolerability of the treatment regimen
in the study population.

About SCC Lung Cancer
The American Cancer Societyestimates that in 2013, approximately 228,190  new 
cases of  lung cancer  will be  diagnosed. Between  85% and  90% of  all  lung 
cancers are classified as  non-small cell lung  cancer (NSCLC); squamous  cell 
carcinomas (SCC) account for 25-30% of all lung cancers. Lung cancer is by far
the leading cause of cancer death among  both men and women. There will be  an 
estimated 159,480  deaths  from  lung cancer  inthe  United  Statesin  2013, 
accounting for around  27% of all  cancer deaths. Lung  cancer is the  leading 
cause of cancer death, with  more people dying each  year of lung cancer  than 
from colon, breast, and prostate cancers combined. For more information  about 
SCC lung cancer, please go towww.cancer.org.

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 
Section27A 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 U.S.  Phase II  squamous 
cell carcinoma lung cancer  trial, 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.

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
 
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