Oncolytics Biotech Inc. Successfully Completes Initial Scale Up of Manufacturing Process for REOLYSIN(R)

CALGARY, April 30 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ:ONCY) announced today that it has successfully completed initial scale up of its manufacturing process for REOLYSIN(R).

The process improvements and scale up to 40-litre batch size has resulted in increased total yields, which are a result of advancements in the media formulation used in the primary production of REOLYSIN(R) and in the downstream processing steps required to generate finished product. The proprietary media formulation was developed by SAFC Biosciences, of Lenexa, Kansas. The scale up of primary production and downstream processing development was undertaken by the National Research Council Biotechnology Research Institute (NRC-BRI) located in Montreal, Canada. The process at this scale now yields at least 20,000 doses at the maximum clinical dose for intravenous use, or 60,000 doses for local use. Further increases in scale are being investigated.

"This enhanced manufacturing process will allow us to keep pace with our rapidly expanding clinical program for REOLYSIN(R)," said Dr. Matt Coffey, Chief Scientific Officer of Oncolytics.

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, the transfer of the scale up to full cGMP production, 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 statements.

SOURCE Oncolytics Biotech Inc.