News Releases
Oncolytics Biotech Inc. Announces Issuance of Fourth U.S. Patent Covering REOLYSIN^® Technology

CALGARY, Alberta, February 5, 2002 -- Oncolytics Biotech Inc. (TSE: ONC, NASDAQ: ONCY) (‘Oncolytics’) has been granted U.S. Patent 6,344,195, entitled “Reovirus for the Treatment of Neoplasia,” which covers the use of human, mammalian, and avian (bird) reoviruses as a treatment for ras-mediated neoplasms (cancers).
“We are pleased to have been granted our fourth U.S. patent covering this technology,” stated Dr. Matt Coffey, Vice President of Product Development. “We have filed numerous other patent applications in the U.S. and on a worldwide basis. Oncolytics will pursue these patent applications and make additional filings in order to expand our patent portfolio for REOLYSIN®.”

About Oncolytics Biotech Inc.

Oncolytics is a Calgary-based biotechnology company focused on the development of the human reovirus (REOLYSIN®) as a potential cancer therapeutic. Oncolytics’ researchers have demonstrated that the reovirus is able to selectively kill cancer cells and, in vitro, kill human cancer cells derived from many types of cancer including breast, prostate, pancreatic and brain tumours. Research has also yielded successful cancer treatment results in a number of animal models. Interim Phase I clinical trial results have indicated that there were no toxicology-related issues with the administration of the reovirus, and that the reovirus demonstrated activity in tumours injected with REOLYSIN®.

This press release contains forward looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statement, including the Company’s belief as to the potential of REOLYSIN® as a cancer therapeutic, the belief that the Ras pathway has broad potential in the treatment of many cancers, and the Company’s ability to protect its products through patents on a worldwide basis, 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.