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Oncolytics Biotech Inc. Announces Appointment of Chief Medical
Officer

CALGARY, Sept. 27 - Oncolytics Biotech Inc.
("Oncolytics") (TSX:ONC, NASDAQ:ONCY) announced today the
appointment of Karl
Mettinger, MD, PhD, as Chief Medical Officer.
"Dr. Mettinger has been involved with the clinical and regulatory
approval of oncology, cardiovascular, and other products in the
pharmaceutical
industry for twenty years," said Dr. Brad Thompson, President and
CEO of
Oncolytics. "His record includes the implementation of clinical
studies for
more than 25,000 patients worldwide. As part of our senior medical
and
scientific management group which includes Dr. Gill and Dr. Coffey,
Dr.
Mettinger is expected to develop the clinical trial program which
best
supports a registration path for REOLYSIN(R)."
Dr. Mettinger has been involved in clinical and regulatory
affairs with
various pharmaceutical companies since 1985. Prior to joining
Oncolytics, he
was Senior Vice President and Chief Medical Officer with SuperGen
Inc. Prior
to that, he was Executive Director, Clinical Research at IVAX/Baker
Norton,
which is the new drug subsidiary of IVAX Corporation. He began his
career in
the industry with KABI in Sweden. Dr. Mettinger holds an MD from the
University of Lund in Sweden and a PhD (hematology/stroke) from the
Karolinska
Institute in Stockholm, Sweden. He is a member of numerous medical
and
scientific associations including the American Association of
Clinical
Oncology, the American Society of Hematology and the American
Association of
Cancer Research.

About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on
the
development of REOLYSIN(R), its proprietary formulation of the human
reovirus,
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 that are derived from many types of cancer
including
breast, bladder, prostate, pancreatic and brain tumours, and have
also
demonstrated successful cancer treatment results in a number of
animal models.
Phase I clinical trial results have indicated that REOLYSIN(R) was
well
tolerated and that the reovirus demonstrated activity in tumours
injected with
REOLYSIN(R).

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 impact Dr. Mettinger will
have on
the development towards a registration path, the Company's
expectations
related to the advancement of REOLYSIN through the clinical and
regulatory
process, and the Company's belief as to the potential of REOLYSIN(R)
as a
cancer therapeutic, alone, or in combination with other therapies,
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, 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.

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