CALGARY, May 23, 2017 /CNW/ - Oncolytics Biotech®
Inc. (Oncolytics or the Company) (TSX:ONC) (OTCQX:ONCYF) today announced that it will undertake a public offering (the
"Offering") of securities of the Company ("Securities"). The Offering will be effected pursuant to a prospectus supplement
(the "Prospectus Supplement") to the Company's base shelf prospectus dated February 16, 2016
(together with the Prospectus Supplement, the "Prospectus"), to be filed with securities regulators in each of the Provinces of
Canada, other than Quebec. The Securities may also be offered
for sale in the United States pursuant to exemptions from the registration requirements of the
U.S. Securities Act and applicable state laws. The number of Securities to be distributed, the price and other terms of the
Offering will be determined in the context of the market with final terms to be determined at the time of
pricing.
The Offering is subject to a number of conditions, including, without limitation, receipt of approval of the Toronto Stock
Exchange. Oncolytics expects to use the net proceeds from the offering for working capital, expanding partnering activities
and advancing the clinical program for metastatic breast cancer.
Canaccord Genuity is acting as sole bookrunner and sole lead for the Offering.
A preliminary prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed
with on SEDAR. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be
obtained, when available, from Canaccord Genuity, Attention: Syndication - Canaccord Genuity Corp., P.O. Box 516, 161 Bay Street,
Suite 3000, Toronto, ON, M5J 2S1. Electronic copies of the preliminary prospectus supplement and
accompanying prospectus will also be available on SEDAR at www.sedar.com.
About Oncolytics Biotech Inc.
Oncolytics is a biotechnology company developing REOLYSIN, an immuno-oncology viral-agent, as a potential treatment
for a variety of tumor types. The compound induces selective tumor lysis and promotes an inflamed tumor phenotype through innate
and adaptive immune responses to treat a variety of cancers. Oncolytics' clinical development program emphasizes three pillars:
chemotherapy combinations to trigger selective tumor lysis; immuno-therapy combinations to produce adaptive immune responses; and
immune modulator (IMiD) combinations to facilitate innate immune responses. Oncolytics is currently planning its first
registration study in breast cancer, as well as studies in combination with checkpoint inhibitors and IMID/targeted therapies in
solid and hematological malignancies. For further information about Oncolytics, please visit: www.oncolyticsbiotech.com.
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the
Company's expectations related to the Phase 2 clinical trial in prostate cancer and the Phase 1b trial in pancreatic cancers,
future trials in these indications, 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 tolerability of REOLYSIN outside a
controlled test, the success and timely completion of clinical studies and trials, the Company's ability to successfully
commercialize REOLYSIN, uncertainties related to the research, development and manufacturing of pharmaceuticals, changes in
technology, general changes to the economic environment 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 should consider statements that include the
words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are
predictions of or indicate future events or trends, to be uncertain and forward-looking. Investors are cautioned against placing
undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking statements, except
as required by applicable laws.
SOURCE Oncolytics Biotech Inc.
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