CALGARY, Alberta and SAN DIEGO, May 17, 2018 (GLOBE NEWSWIRE) -- Oncolytics Biotech® Inc. (TSX:ONC)
(OTCQX:ONCYF), currently developing REOLYSIN® (pelareorep), an intravenously delivered immuno-oncolytic virus turning
cold tumors hot, today announced an investigator sponsored study (IST) supported by Merck Inc. (Merck), Northwestern University
(Northwestern) and Oncolytics. This study is an extension of the previously reported phase 1 study (REO 024) that will investigate
pelareorep in combination with Merck’s anti-PD1 checkpoint inhibitor Keytruda®, to treat second line pancreatic cancer
patients. The study, run by the principal investigator of REO 024, Dr. Devalingham Mahalingam, will plan to enroll approximately 40
patients with advanced pancreatic cancer and will be conducted at the Robert H. Lurie Comprehensive Cancer Center of Northwestern
University.
"This study using Merck’s Keytruda is our second I-O combination in human trials after our multiple myeloma
study in combination with Celgene’s Imnovid and Revlimid," said Dr. Matt Coffey, President and CEO of Oncolytics Biotech. "We’re
very happy with Merck’s increased involvement in our pancreatic studies and believe combining pelareorep with Keytruda poses an
exciting opportunity to lay additional groundwork towards our ultimate goal – to expand the use of check point inhibitors as
anti-cancer agents by promoting an inflamed phenotype in the tumor, or turning cold tumors hot.”
“REO 024, a phase 1b study combining pelareorep and Keytruda in second line pancreatic
patients, was designed to evaluate safety and tolerability of the combination,” said Dr. Mahalingam, Associate Professor of
Medicine (Hematology and Oncology), Northwestern University Feinberg School of Medicine. “The results from that
study demonstrated that the combination is safe, but also that there was early evidence of clinical activity, including one patient
that had a partial response lasting 17.4 months and two with stable disease of 126 days and 277 days. This new phase
two study will enroll patients with advanced pancreatic cancer failing front line chemotherapy and will primarily evaluate
overall response rate of the combination therapy. The study will also provide important biomarker data determined by analysis
of pre- and post-treatment biopsies and blood-based immune markers.”
Final study design and other details will be announced upon enrollment of the first patient, expected in the
third quarter 2018.
About REOLYSIN/Pelareorep
REOLYSIN, also known as pelareorep, is a non-pathogenic, proprietary isolate of the unmodified reovirus: a first-in-class
intravenously delivered immuno-oncolytic virus for the treatment of solid tumors and hematological malignancies. The compound
induces selective tumor lysis and promotes an inflamed tumor phenotype through innate and adaptive immune responses to treat a
variety of cancers.
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.