CALGARY, Canada, September 19 /PRNewswire/ --     Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC, NASDAQ:ONCY) announced 
that Dr. Matt Coffey, Chief Scientific Officer of Oncolytics, is scheduled to 
deliver a presentation on Thursday, September 20 entitled "Large Scale 
Production Process for the Oncolytic Agent REOLYSIN(R) (Human Reovirus)" at 
the 8th PEACe Conference on Protein Expression in Animal Cells in Angra dos 
Reis, Brazil. The conference runs from September 16 to 20, 2007.

"REOLYSIN(R) produced using the manufacturing method described in this 
presentation is currently being used in our Phase II clinical program in the 
U.S. and the U.K.," said Dr. Coffey. "In addition, development work at the 
100-litre scale is currently underway."

The abstract will be posted on the Oncolytics website today. For more 
information about the conference, please visit:

http://www.peace-conference.org/

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 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 expectations related to 
the manufacturing process presented at this conference, and the Company's 
belief as to the potential of REOLYSIN(R) as a cancer therapeutic, 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(R) as a cancer treatment, the success and 
timely completion of clinical studies and trials, the Company's ability to 
successfully commercialize REOLYSIN(R), 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.