Annual BIO CEO & Investor Conference

Inc. to Present at 12th

Annual BIO CEO & Investor Conference

CALGARY, AB, February 4, 2010

--- Dr. Brad Thompson, President and CEO of Oncolytics Biotech Inc. (TSX:

ONC, NASDAQ: ONCY), will present a corporate overview of the Company at the

Annual BIO CEO & Investor Conference on Monday, February 8, 2010 at 3:00 p.m.

by the Biotechnology Industry Organization (BIO), the 12th Annual CEO &

Investor Conference will take place February 8th and

the Waldorf-Astoria Hotel in New York.

audio link to the webcast presentation is available at: http://www.veracast.com/webcasts/bio/ceoinvestor2010/35112252.cfm

, or on the company's website at www.oncolyticsbiotech.com. It

is recommended that listeners log on 15 minutes in advance of the presentation

to register and download any necessary software.

replay will be accessible approximately one hour following the presentation on

the Oncolytics website.

the BIO CEO & Investor Conference

its twelfth year, the BIO CEO & Investor Conference 2010 is the largest

investor conference focused on the biotechnology industry. The conference

provides a forum for public and private equity investors, research analysts,

investment bankers and senior-level industry executives to learn about and

discuss investment trends and investment opportunities in the biotechnology

industry. This year's conference will feature corporate presentations from more

than 120 companies, workshops featuring leading experts on specific therapeutic

and technology topics, plenary and panel sessions on timely business issues and

industry trends, many opportunities to schedule one-on-one meetings, as well as

numerous networking opportunities. For more information, visit www.ceo.bio.org.

Oncolytics Biotech Inc.

is a Calgary-based biotechnology company focused on the development of oncolytic

viruses as potential cancer therapeutics. Oncolytics' clinical

program includes a variety of human trials including a Phase III trial in head

and neck cancers using REOLYSIN , its

proprietary formulation of the human reovirus. For further information about

Oncolytics, please visit: www.oncolyticsbiotech.com.

The presentation and webcast times

are subject to change. This release and the presentation related thereto contain

forward-looking statements which involve known and unknown risks, delays,

uncertainties and other factors not under the Company's control and which may

cause actual results, performance or achievements of the Company to be

materially different from the results, performance or expectations implied by

these forward-looking statements. Such risks and uncertainties include,

among others, the efficacy of REOLYSIN 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, except as required by applicable

FURTHER INFORMATION PLEASE CONTACT: