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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001130319-07-000058.txt : 20070206
<SEC-HEADER>0001130319-07-000058.hdr.sgml : 20070206
<ACCEPTANCE-DATETIME>20070206173058
ACCESSION NUMBER:		0001130319-07-000058
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070206
FILED AS OF DATE:		20070206
DATE AS OF CHANGE:		20070206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ONCOLYTICS BIOTECH INC
		CENTRAL INDEX KEY:			0001129928
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-31062
		FILM NUMBER:		07585487

	BUSINESS ADDRESS:	
		STREET 1:		1167 KENSINGTON CRES NW SUITE 210
		STREET 2:		CALGARY ALBERTA CANADA T2N 1X7
		CITY:			ALBERTA CANADA
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		4036707380

	MAIL ADDRESS:	
		STREET 1:		210 - 1167 KENSINGTON CRES NW
		CITY:			CALGARY
		STATE:			A0
		ZIP:			T2N 1X7
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>o34671e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Report of Foreign Private Issuer</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16<BR>
of the Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of February&nbsp;2007<BR>
Commission File Number 000-31062</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Oncolytics Biotech Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>(Translation of registrant&#146;s name into English)</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Suite&nbsp;210, 1167 Kensington Crescent NW<BR>
Calgary, Alberta, Canada T2N 1X7</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>(Address of principal executive offices)</I></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or </B><B>Form 40-F</B><B>.</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
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    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;20-F <FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form&nbsp;40-F <FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indicate by check mark if the registrant is submitting the </B><B>Form 6-K</B><B> in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;</B><B>101(b)(1)</B><B>: </B><FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits the submission in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indicate by check mark if the registrant is submitting the </B><B>Form 6-K</B><B> in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;</B><B>101(b)(7)</B><B>: </B><FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper of a Form 6-K if submitted
to furnish a report or other document that the registrant foreign private issuer must furnish and
make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrant&#146;s &#147;home country&#148;), or under the rules of the home country
exchange on which the registrant&#146;s securities are traded, as long as the report or other document
is not a press release, is not required to be and has not been distributed to the registrant&#146;s
security holders, and, if discussing a material event, has already been the subject of a Form 6-K
submission or other Commission filing on EDGAR.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-</B><B>2(b)</B><B> under the
Securities Exchange Act of 1934.</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
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<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Yes <FONT face="Wingdings">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">No <FONT face="Wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-</B><B>2(b)</B><B>: 82 -</B>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>






<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Oncolytics Biotech Inc.</B><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: February 6, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Doug Ball
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Doug Ball&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">210, 1167 Kensington Cr. N.W.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calgary, Alberta</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Canada T2N 1X7</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<HR noshade size="2" width="100%" align="center">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Oncolytics Biotech Inc. Announces Pricing of Previously Announced Public Offering</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Calgary, AB </B>- <B>February&nbsp;6, 2007 </B>- Oncolytics Biotech Inc.
(&#147;Oncolytics&#148; or the &#147;Company&#148;) (TSX:ONC; NASDAQ:ONCY) is pleased to announce that in connection
with the previously announced short form prospectus offering, it has entered into an underwriting
agreement with Canaccord Capital Corporation, pursuant to which Oncolytics has agreed to issue
4,000,000 units, each unit comprised of one common share and one-half of one common share purchase
warrant, at a price of $3.00 per unit for gross proceeds of $12,000,000.00. Each whole common share
purchase warrant shall entitle the holder thereof to acquire one common share of the Company upon
payment of $3.50 at any time until 5:00 p.m. (Calgary time) on the date that is 36&nbsp;months following
the closing of the offering. Additionally, Oncolytics has granted Canaccord Capital Corporation an
over-allotment option to purchase up to an additional 600,000 units at a price of $3.00 per unit,
exercisable at any time up until 30&nbsp;days after closing of the offering, increasing the gross
proceeds of the offering to $13,800,000.00.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The net proceeds from this offering will be used by Oncolytics for its clinical trial program,
manufacturing activities in support of the clinical trial program and for the Company&#146;s general
corporate purposes. The offering is expected to close on or about February&nbsp;22, 2007 and is subject
to the receipt of all necessary regulatory and stock exchange approvals.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This press release shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of these securities in any state or province in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities
laws of any such state or province. No offer to buy the securities can be accepted and no part of
the purchase price can be received until the registration statement has become effective, and any
such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time
prior to the notice of its acceptance given after the effective date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Canaccord Capital Corporation is acting as lead manager on the offering. Once filed and
receipted, a copy of the amended and restated short form prospectus may be obtained from Canaccord
Capital Corporation &#151; in Canada, call 416-869-7708, in the U.S., call 1-617-788-1554,
or send requests to: Attention: Lee Ward, P.O. Box 516, 161 Bay Street, Suite&nbsp;3000, Toronto,
Ontario M5J 2S1 (fax requests &#151; 416-869-7708).
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt"><I>This press release contains forward-looking statements, within the meaning of Section
21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking
statements, including the Company&#146;s expectations related to the placement of the units, as to
progress in the clinical trial program and the Company&#146;s belief as to the potential of REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>
<I>as a cancer, therapeutic, involve known and unknown risks and uncertainties, which could cause the
Company&#146;s actual results to differ materially from those in the forward-looking statements. Such
risks and uncertainties include, among others, ability of the Company to complete the offering on
the terms set forth in its agreements, the Company&#146;s ability to obtain regulatory approval for the
offering, the availability of funds and resources to pursue Research and Development projects, the
efficacy of REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> <I>as a cancer treatment, the success and timely completion of clinical
studies and trials, the Company&#146;s ability to</I>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 8pt; margin-top: 6pt"> <I>successfully commercialize REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP><I>, uncertainties related to the research and development
pharmaceuticals, uncertainties related to the regulatory process and general changes to the
economic environment. Investors should consult the Company&#146;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 may be required pursuant to applicable securities laws.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR FURTHER INFORMATION PLEASE CONTACT:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="33%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Oncolytics Biotech Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Equicom Group
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Investor Relations Group</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cathy Ward
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Nick Hurst
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Erika Moran</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">210, 1167 Kensington Cr NW
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">600, 205 5<SUP style="font-size: 85%; vertical-align: text-top">th</sup> Ave. SW
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">11 Stone St, 3rd Floor</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Calgary, Alberta T2N 1X7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calgary, Alberta T2P 2V7
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">New York, NY 10004</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Tel: 403.670.7377
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tel: 403.538.4845
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tel: 212.825.3210</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Fax: 403.283.0858
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fax: 403.266.2453
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fax: 212.825.3229</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><u>cathy.ward@oncolytics.ca</u>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><u>nhurst@equicomgroup.com</u>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><u>emoran@investorrelationsgroup.com</u></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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