CALGARY, Alberta, April 16, 2002 -- Oncolytics Biotech Inc. (TSE: ONC, NASDAQ: ONCY) (‘Oncolytics’) has started patient treatment in its clinical study to evaluate the efficacy of REOLYSIN® for the treatment of T2 prostate cancer. REOLYSIN® is the formulation of the reovirus, developed by Oncolytics as a potential therapeutic for a broad range of cancers in humans.
The T2 prostate cancer trial is intended to evaluate the efficacy of intra-tumoural administration of REOLYSIN® for the treatment of cancer that is restricted to the prostate gland. Patients will receive a single injection of REOLYSIN® and will be monitored for approximately three weeks, at which time the prostate will be surgically removed. The primary efficacy endpoint will be the response rate as measured by pathological examination of the tumour. The trial is expected to enrol up to 45 patients in three or more clinical sites across Canada.
Previous research has demonstrated that REOLYSIN® is effective in killing a variety of human derived prostate cancer cell lines and it causes significant tumour regression in animal models of prostate cancer.
Cancer of the prostate is one of the most common cancers in men, representing approximately one-third of all male cancers in western society. It is second only to lung cancer as the leading cause of cancer deaths in men. There are an estimated 16,600 new cases of prostate cancer in Canada and the American Cancer Society estimates that there will be 198,100 new cases in the US in 2001.
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 human cancer cells in vitro, from many types of cancer including breast, prostate, pancreatic and brain tumours, and successful cancer treatment results have been obtained in a number of animal models. Final 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®. Oncolytics has received approval for a Canadian Phase I/II clinical trial for the treatment of brain cancer.
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 Company’s belief as to the potential of REOLYSIN® as a cancer therapeutic; and the Company’s expectations as to the timing and successful completion of the T2 prostate cancer trial, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
For Canada:
Oncolytics Biotech Inc.
Dr. Matt Coffey
210, 1167 Kensington Cr NW
Calgary, Alberta T2N 1X7
Tel: 403.670.7377
Fax: 403.283.0858
www.oncolyticsbiotech.com
For Canada:
The Equicom Group Inc.
Joanna Longo
20 Toronto Street
Toronto, Ontario M5C 2B8
Tel: 416.815.0700 ext. 233
Fax: 416.815.0080
jlongo@equicomgroup.com
For United States:
The Investor Relations Group
Gino De Jesus or Dian Griesel, Ph.D.
50 Pine Street, 6th Floor
New York, NY 10005
Tel: 212.825.3210
Fax: 212.825.3229
theproteam@aol.com
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