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Oncolytics Biotech® Inc. Announces Common Share Offering

Stocks in this article: ONCY

CALGARY, Feb. 19, 2013 /PRNewswire/ - Oncolytics Biotech Inc. ("Oncolytics") (TSX:ONC; NASDAQ:ONCY) announced today its intention, subject to market and other conditions, to commence an underwritten public offering of common shares.  The number of common shares to be distributed and the price of each common share will be determined in the context of the market with final terms to be determined at the time of pricing.

Piper Jaffray & Co. and Wedbush PacGrow Life Sciences will act as joint book-running managers for the offering in the U.S. and Paradigm Capital Inc. will act as co-manager in the U.S. and book-running manager in Canada. The Company expects to grant the underwriters participating in the offering a 30-day option to purchase up to an additional 15 percent of the number of common shares sold pursuant to the offering to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Oncolytics intends to use the net proceeds from the offering to fund its clinical trial program, manufacturing program and for general corporate and working capital purposes.

The common shares are being offered in each of the Canadian provinces of British Columbia, Alberta, Manitoba and Ontario by way of a prospectus supplement to the Company's base shelf short form prospectus and in the United States pursuant to a prospectus supplement to the Company's effective shelf registration statement on Form F-10 (333-182260) previously filed with the United States Securities and Exchange Commission. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov, from the System for Electronic Document Analysis and Retrieval (SEDAR) website at http://www.sedar.com or from the underwriters at:

Piper Jaffray & Co. 800 Nicollet Mall, J12S03, Minneapolis, MN 55402 Email: prospectus@pjc.com Telephone: (800) 747-3924

Wedbush Securities Inc. One Bush Street, 17th floor, San Francisco, CA 94104, Attn:  SF Prospectus Department Phone: 415-274-6819 Fax: 415-274-6887

Before you invest, you should read the prospectus supplement and accompanying prospectus, the registration statement, and the other documents that the Company has filed with the Securities and Exchange Commission for more complete information about the Company and this offering.

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