Oncolytics Biotech Inc. to Present at BIO 2008 International Convention

CALGARY, June 12 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY), announced today that Dr. Brad Thompson, President and CEO of Oncolytics, will participate in two separate presentations at the BIO 2008 International Convention.

Dr. Thompson is scheduled to provide a corporate overview of the Company on Tuesday, June 17th at 3:30 p.m. PT at the BIO Business Forum.

On Wednesday, June 18th at 4:00 p.m. PT, Dr. Thompson is also scheduled to participate as an invited speaker as part of a panel discussion entitled "Canada: Your Global Partner for Cancer Research Innovation."

The Conference, which is expected to draw approximately 20,000 attendees, will be held at the San Diego Convention Center June 17th to June 20th, 2008.

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

The presentation times are subject to change. This release and the presentations related thereto contain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control and which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. Such risks and uncertainties include, among others, the efficacy of REOLYSIN(R) as a cancer treatment, the success and timely completion of clinical studies and trials, 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.

SOURCE Oncolytics Biotech Inc.