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<SEC-DOCUMENT>0001130319-07-000438.txt : 20070605
<SEC-HEADER>0001130319-07-000438.hdr.sgml : 20070605
<ACCEPTANCE-DATETIME>20070605121930
ACCESSION NUMBER:		0001130319-07-000438
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070605
FILED AS OF DATE:		20070605
DATE AS OF CHANGE:		20070605

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:		07900076

	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>o36647e6vk.htm
<DESCRIPTION>NEWS RELEASE DATED JUNE 5, 2007
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">

<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
<DIV align="center" style="font-size: 12pt">Washington, D.C.
20549</DIV></B>


<P align="center" style="font-size: 18pt"><B>Form 6-K</B>

<P align="center" style="font-size: 10pt"><B>Report of Foreign Private Issuer</B>

<P align="center" style="font-size: 10pt"><B>Pursuant to Rule&nbsp;13a-16 or 15d-16<BR>
of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt">For the month of June 2007


<P align="center" style="font-size: 10pt">Commission File Number 000-31062

<CENTER>
<P align="center" style="font-size: 24pt"><B>Oncolytics Biotech Inc.</B>
<HR size="1" width="45%" noshade>
<DIV align="center" style="font-size: 10pt"><I>(Translation of registrant&#146;s name into
English)</I>
</DIV>
</CENTER>

<CENTER>
<P align="center" style="font-size: 10pt"><B>Suite&nbsp;210, 1167 Kensington Crescent NW<BR>
Calgary, Alberta, Canada T2N 1X7</B>
<HR size="1" width="45%" noshade>
<DIV align="center" style="font-size: 10pt"><I>(Address of principal executive offices)</I>
</DIV>
</CENTER>

<P style="font-size: 10pt">Indicate by check mark whether the registrant files or will file annual reports
under cover Form&nbsp;20-F or Form&nbsp;40-F.

<CENTER>
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD align="center" valign="top">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;<FONT
face="wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;<FONT
face="wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</CENTER>

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

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

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

<P style="font-size: 10pt"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper of a
Form&nbsp;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&nbsp;6-K
submission or other Commission filing on EDGAR.

<P style="font-size: 10pt">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;12g3-2(b) under the Securities Exchange Act of
1934.

<CENTER>
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="70%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Yes&nbsp;&nbsp;&nbsp;<FONT
face="wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No&nbsp;&nbsp;&nbsp;<FONT
face="wingdings">&#254;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</CENTER>

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

<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">

<P style="font-size: 10pt">&nbsp;

</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>

<P style="font-size: 10pt">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.

<P>
<CENTER>
<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD colspan="3" align="left" valign="top"><B>Oncolytics
Biotech Inc.</B><BR>
(Registrant)</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
    <TD valign="top">Date: June 5, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Doug Ball
<HR size="1" noshade width="60%">
Doug Ball<BR>
Chief Financial Officer</TD>
</TR>
</TABLE>
</CENTER>

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

</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">
<P>
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="top">
        <TD width="70%"><IMG src="o36647o3664700.gif" alt="Oncolytics Biotech Logo"></TD>
        <TD width="30%">210, 1167 Kensington Crescent N.W.<BR>
Calgary, Alberta<BR>
Canada T2N 1X7</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt"><B><HR align="left" size="1" width="100%" noshade></B>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOR IMMEDIATE RELEASE</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Oncolytics Biotech Inc. Announces<BR>
Positive Clinical Data from U.S. Phase I REOLYSIN</B><SUP style="font-size: 85%; vertical-align: text-top"><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></SUP ><B> Trial</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CALGARY, AB, &#151; June&nbsp;5, 2007 </B>- Oncolytics Biotech Inc. (&#147;Oncolytics&#148;) (TSX:ONC, NASDAQ:ONCY)
announced today positive results from its U.S. Phase I clinical trial examining the systemic
administration of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> in patients with advanced cancers. The results indicate
that REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> can be delivered systemically to patients with advanced and metastatic
cancers and cause anti-tumour activity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> administered as a one-hour infusion on a monthly schedule is safe and
well-tolerated even in multiple doses,&#148; said Principal Investigator Dr.&nbsp;Sanjay Goel of the
Montefiore Medical Center and Albert Einstein College of Medicine, New York. &#147;This preliminary
data suggests there is anti-tumour activity of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> administered as a single agent,
and warrants further studies either alone or in combination with cytotoxic chemotherapy, which are
currently being planned.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A total of 18 patients were treated in the escalating dosage trial to a maximum daily dose of
3x10<SUP style="font-size: 85%; vertical-align: text-top">10</SUP> TCID<SUB style="font-size: 85%; vertical-align: text-bottom">50 </SUB>in<SUB style="font-size: 85%; vertical-align: text-bottom"> </SUB>a one-hour infusion. Of the 18 patients treated,
eight demonstrated stable disease as measured by RECIST (Response Evaluation Criteria in Solid
Tumours) including a patient with progressive breast cancer who experienced a 28.5% shrinkage in
tumour volume. The trial was originally designed to demonstrate the safety of a single, one-hour
infusion of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>. During the treatment of the 4<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> cohort of patients
however, Oncolytics applied for and was granted approval to allow subsequent patients to receive
repeat monthly treatments of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>. Of the patients eligible for retreatment, three
patients received a range of two to seven one-hour infusions of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Toxicities possibly related to REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> treatment in this trial were generally mild
(grade 1 or 2) and included chills, fever and fatigue.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The primary objective of the Company&#146;s U.S. Phase I trial is to determine the maximum tolerated
dose, (MTD), dose limiting toxicity (DLT), and safety profile of REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> when
administered systemically to patients. A secondary objective is to examine any evidence of
anti-tumour activity. Eligible patients included those who had been diagnosed with advanced or
metastatic solid tumours that are refractory (have not responded) to standard therapy or for which
no curative standard therapy exists.
</DIV>

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

<!-- PAGEBREAK -->
<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="left" style="font-size: 10pt; margin-top: 6pt"><B>About Oncolytics Biotech Inc.</B><BR>
Oncolytics is a Calgary-based biotechnology company focused on the development of oncolytic viruses
as potential cancer therapeutics. Oncolytics&#146; clinical program includes a variety of Phase I and
Phase II human trials using REOLYSIN<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>, its proprietary formulation of the human
reovirus, alone and in combination with radiation or chemotherapy. For further information about
Oncolytics, please visit <U>www.oncolyticsbiotech.com</U>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt"><I>This press release contains forward-looking statements, within the meaning of Section&nbsp;21E of
the Securities Exchange Act of 1934, as amended. Forward-looking statements, including the
Company&#146;s expectations related to the results of the Phase I US Systemic Administration clinical
trial investigating delivery of REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top"><I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></I></SUP><I> for advanced cancers, and the Company&#146;s belief
as to the potential of REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top"><I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></I></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, 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"><I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></I></SUP><I> as a cancer treatment, the success and timely completion of clinical studies
and trials, actual patient tolerance, the Company&#146;s ability to successfully commercialize
REOLYSIN</I><SUP style="font-size: 85%; vertical-align: text-top"><I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP></I></SUP><I>, uncertainties related to the research and development of pharmaceuticals and
uncertainties related to the regulatory process. 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.</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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&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">325, 300 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 3C4
</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: 403.237.6916
</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>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">-30-
</DIV>



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

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
