This looks very promising

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4/9/2008 11:19:58 AM ET News Release Index

Oncolytics Biotech Inc. Reports Positive Interim Results of U.K.

Combination REOLYSIN® and Carboplatin/Paclitaxel Trial

CALGARY, AB, --- April 9, 2008 - Oncolytics Biotech Inc.

( " Oncolytics " ) (TSX:ONC, NASDAQ:ONCY) today announced positive

interim results from its U.K. combination REOLYSIN® and

carboplatin/paclitaxel trial. Dr. Harrington of The Institute

of Cancer Research, London, and the principal investigator for the

trial, presented the results today at The 5th Annual Conference of

the British Society for Gene Therapy (BSGT) in Edinburgh, Scotland.

Four of the first eight patients treated in the study to date have a

diagnosis of carcinoma of the head and neck. All three head and neck

patients evaluated to date have had excellent clinical and

radiological responses without appreciable toxicity. Preliminary

assessment after recruitment of the first two cohorts has suggested

that patients with head and neck carcinomas may represent a group of

patients in whom the combination of carboplatin/paclitaxel and

REOLYSIN® is active.

" These early results in head and neck patients are remarkable,

considering the prognosis for refractory patients is generally poor, "

said Dr. Karl Mettinger, Chief Medical Officer for Oncolytics.

In the first cohort, the patient with head and neck cancer received 8

cycles of treatment (the maximum allowed) and achieved a clinical

complete response. In the second cohort, the two patients with head

and neck cancers with widespread disseminated disease have each

received six cycles of treatment to date and both have achieved

significant partial responses. Two of the three patients, including

the patient with the clinical complete response, had previously

received cisplatin/5-FU treatment and all three had previously

received radiotherapy.

More information about this clinical trial, including CT scans from

selected patients enrolled on the trial, can be found on the

Oncolytics website at www.oncolyticsbiotech.com.

The primary objective of the trial is to determine the Maximum

Tolerated Dose (MTD), Dose-Limiting Toxicity (DLT), recommended dose

and dosing schedule and safety profile of REOLYSIN® when administered

in combination with paclitaxel and carboplatin. Secondary objectives

include the evaluation of immune response to the drug combination,

the body's response to the drug combination compared to chemotherapy

alone and any evidence of anti-tumour activity.

The principal investigators are Dr. Harrington of The Institute

of Cancer Research and The Royal Marsden NHS Foundation Trust, and

Dr. Geoff Hall of St. 's Hospital in Leeds, U.K.

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®, 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 U.K. combination REOLYSIN® and

carboplatin/paclitaxel clinical trial, 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 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 statements. Investors are cautioned against placing undue

reliance on forward-looking statements. The Company does not

undertake to update these forward-looking statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

Oncolytics Biotech Inc.

Ward

210, 1167 Kensington Cr NW

Calgary, Alberta T2N 1X7

Tel: 403.670.7377

Fax: 403.283.0858

cathy.ward@...