Oncolytics Biotech Inc. Announces Issuance of 23rd U.S. Patent
04/09/2007 15:10
PR Newswire
CALGARY, Canada, September 4 /PRNewswire/ -- Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY) ("Oncolytics") today
announced that it has been granted U.S. Patent 7,264,798 entitled
"Sensitization of Chemotherapeutic Agent Resistant Neoplastic Cells with a
Virus." The claims describe a method of using reovirus to prevent
Ras-activated cancers from developing drug resistance to chemotherapeutic
agents.
"Recent research conducted by the U.S. National Cancer Institute (NCI)
and Cornell University demonstrated that administering reovirus in
combination with various chemotherapeutic agents potentiates, or enhances
tumour-killing, thus preventing the cancer cells from developing drug
resistance," said Dr. Matt Coffey, Chief Scientific Officer. "This patent
complements the combination REOLYSIN(R) and chemotherapy clinical program
that we are pursuing in the U.K."
About Oncolytics Biotech Inc.
Oncolytics is a Calgary-based biotechnology company focused on the
development of oncolytic viruses as potential cancer therapeutics.
Oncolytics' clinical program includes a variety of Phase I and Phase II human
trials using REOLYSIN(R), its proprietary formulation of the human reovirus,
alone and in combination with radiation or chemotherapy. For further
information about Oncolytics, please visit http://www.oncolyticsbiotech.com.
This news release contains forward-looking statements, within the meaning
of Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements, including among others, the Company's belief as
to the importance of the issuance of this patent, the safety and efficacy of
the reovirus, the Company's expectations as to the potential applications of
the patented technology and other statements relating to anticipated
developments in the Company's business and technologies, involve known and
unknown risks and uncertainties that 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 efficacy of REOLYSIN(R) as a
cancer treatment, the success and timely completion of clinical studies and
trials, uncertainties related to the research and development of
pharmaceuticals 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 are
cautioned against placing undue reliance on forward-looking statements. The
Company does not undertake to update these forward-looking statements.
For further information: Oncolytics Biotech Inc., Cathy Ward, 210, 1167 Kensington Cr NW, Calgary, Alberta, T2N 1X7, Tel: +1-403-670-7377, Fax: +1-403-283-0858, cathy.ward@oncolytics.ca; The Equicom Group, Nick Hurst, 325, 300 5th Ave SW, Calgary, Alberta, T2P 3C4, Tel: +1-403-538-4845, Fax: +1-403-237-6916, nhurst@equicomgroup.com; The Investor Relations Group, Erika Moran, 11 Stone St, 3rd Floor, New York, NY, 10004, Tel: +1-212-825-3210, Fax: +1-212-825-3229, emoran@investorrelationsgroup.com