CALGARY, Canada, November 1 /PRNewswire/ -- Dr. Brad Thompson, President and CEO of Oncolytics Biotech Inc. (TSX:ONC, NASDAQ: ONCY), will present a corporate overview of the Company at the Acumen BioFin Rodman & Renshaw 9th Annual Healthcare Conference on Tuesday, November 6, 2007 at 3:20 p.m. ET. The event will be held at the New York Palace Hotel from November 5-7, 2007.

A live audio webcast of the presentation will be available at: http://www.wsw.com/webcast/rrshq12/oncy/ or on the company's website at http://www.oncolyticsbiotech.com. It is recommended that listeners log on 15 minutes in advance of the presentation to register and download any necessary software.

An audio replay will be accessible following the presentation at http://www.oncolyticsbiotech.com.

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

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(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.

For Canada: Oncolytics Biotech Inc., Cathy Ward, 210, 1167 Kensington Cr NW, Calgary, Alberta, T2N 1X7, Tel: +1-403-670-7377, Fax: +1-403-283-0858, cathy.ward@oncolytics.ca; For Canada: The Equicom Group, Nick Hurst, 325-300 5th Ave. SW, Calgary, Alberta, T2P 3C4, Tel: +1-403-538-4845, Fax: +1-403-237-6916, nhurst@equicomgroup.com; For United States: The Investor Relations Group, Erika Moran, 11 Stone St, 3rd Floor, New York, NY, 10004, Tel: +1-212-825-3210, Fax: +1-212-825-3229, emoran@investorrelationsgroup.com