CALGARY, March 4 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. ("Oncolytics" or the "Company") today reported its financial results for the year ended December 31, 2008.
"In 2008, we selected our first pivotal program for REOLYSIN(R)," said Dr. Brad Thompson, President and CEO of Oncolytics. "The selection of head and neck cancers was supported by interim results reported in our US and UK clinical studies, and the successful development of a manufacturing process capable of supplying REOLYSIN for large clinical studies."
To view the Company's Financial Statements and Management's Discussion and Analysis, please see the Company's 2008 Annual Filings which will be available on www.sedar.com and www.oncolyticsbiotech.com.
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/II 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 and under applicable Canadian provincial securities legislation. Forward-looking statements, including the Company's belief as to the potential of REOLYSIN as a cancer therapeutic; the Company's expectations as to the success of its research and development programs in 2009 and beyond, the value of the additional patents and intellectual property; the Company's expectations related to the applications of the patented technology; the Company's expectations as to adequacy of its existing capital resources; the design, timing, success of planned clinical trial programs and the Company's planned expansion of such programs; and other statements related to anticipated developments in the Company's business and technologies 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 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, uncertainties related to the regulatory process and general changes to the economic environment. 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 statements, except as required by applicable laws.
CONTACT: Oncolytics Biotech Inc., Cathy Ward, 210, 1167 Kensington Cr, NW,
Calgary, Alberta, T2N 1X7, Tel: (403) 670-7377, Fax: (403) 283-0858,
cathy.ward@oncolytics.ca; The Equicom Group, Nick Hurst, 325, 300 5th Ave.
SW, Calgary, Alberta, T2P 3C4, Tel: (403) 538-4845, Fax: (403) 237-6916,
nhurst@equicomgroup.com; The Investor Relations Group, Erika Moran, 11
Stone St, 3rd Floor, New York, NY, 10004, Tel: (212) 825-3210, Fax: (212)
825-3229, emoran@investorrelationsgroup.com
