Oncolytics Biotech Inc. Announces Issuance of 20th U.S. Patent
CALGARY, April 3 /PRNewswire-FirstCall/ - Oncolytics Biotech Inc. (TSX: ONC, NASDAQ: ONCY) ("Oncolytics") has been granted U.S. Patent 7,198,783 entitled "Sensitization of Neoplastic Cells to Radiation Therapy with Reovirus." The claims describe a method of using reovirus to sensitize Ras-activated cancer cells that are resistant to radiation therapy.
"This broad patent represents comprehensive co-therapy coverage of reovirus in combination with radiation and is an important piece of intellectual property that supports our ongoing Phase II clinical program with this combination," said Dr. Matt Coffey, Chief Scientific Officer of Oncolytics. "Our ongoing research has shown that reovirus administration can make radiation-resistant Ras-activated cancer cells more susceptible to radiation treatment and may offer an effective treatment alternative."
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 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.
SOURCE Oncolytics Biotech Inc.
Released April 3, 2007