Oncolytics Biotech(R) Announces Management Change
CALGARY, AB and SAN DIEGO, CA --(Marketwired - April 17, 2018) - Oncolytics
Biotech® Inc. (TSX: ONC) (OTCQX: ONCYF), currently
developing REOLYSIN® (pelareorep), an intravenously delivered immuno-oncolytic virus creating an inflamed phenotype,
today announced that Andres Gutierrez, Chief Medical Officer at Oncolytics, will be leaving to pursue other opportunities,
effective April 23, 2018.
"Doctor Gutierrez joined Oncolytics a year and a half ago with a mandate to position and prepare the company for a phase three
study," said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. "Having played a pivotal role in developing a
comprehensive clinical development plan and the design of our phase three study in HR-positive, HER2-negative metastatic breast
cancer required for approval, his work culminated in the submission to receive a special protocol assessment from the USFDA. He
has also been responsible for the recruitment of a team of clinical and regulatory leaders whose expertise positions us to
continue advancement towards the recruitment of our first patient in the phase three study later this year. We wish him all the
best and thank him for his significant contributions to the company."
A recruitment process to find a new Chief Medical Officer, who will be based in the Company's San Diego office, is already
underway.
About Oncolytics Biotech Inc.
Oncolytics is a biotechnology company developing REOLYSIN®, also known as pelareorep, an intravenously
delivered immuno-oncolytic virus. The compound induces selective tumor lysis and promotes an inflamed tumor phenotype -- turning
"cold" tumors "hot" -- 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 and immuno-therapy and
immune modulator (IMiD) combinations to produce innate and adaptive immune responses. Oncolytics is currently planning its first
registration study in metastatic breast cancer, as well as studies in combination with checkpoint inhibitors and targeted and
IMiD therapies in solid and hematological malignancies. For further information, 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 and forward-looking information under applicable Canadian securities laws (such forward-looking statements
and forward-looking information are collectively referred to herein as "forward-looking statements"). Forward-looking statements,
including the Company's belief as to the potential and mode of action of REOLYSIN, also known as pelareorep, as a cancer
therapeutic; and other statements related to anticipated developments in the Company's business and technologies 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 pelareorep as a cancer treatment, the success and timely completion of
clinical studies and trials, the Company's ability to successfully commercialize pelareorep, 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, except as required by applicable laws.