Oncolytics Biotech Inc Reports Q1 Development

Oncolytics Biotech Inc.announced its financial results and development highlights for the quarter ended March 31, 2021. All dollar amounts are expressed in Canadian currency unless otherwise noted.Dr. Matt Coffey, President and Chief Executive Officer of Oncolytics Biotech Inc. said that the continued progress over the past several months has substantially de-risked our lead breast cancer program and validated our broader development strategy.

Clinical data from our AWARE-1 trial shows pelareorep alters tumor microenvironments by enabling the infiltration of anti-cancer T cells, shown to be associated with improved cancer patient outcomes, including survival, and demonstrates the synergy between pelareorep and checkpoint inhibitors.

These findings benefit the all-around survival benefit observed in our prior Phase 2 breast cancer study. It also suggests that we can deliver additional benefits to patients with HR+/HER2- metastatic breast cancer by combining pelareorep with a checkpoint inhibitor. This hypothesis is being evaluated in the BRACELET-1 trial, which remains on track for full enrollment this year.

Dr. Coffey Said that Oncolytics Biotech Inc. continued that clinical accomplishments, which brought compelling preclinical data demonstrating pelareorep’s potential to synergize with a broad array of immune-oncology agents such as CAR T cells and bispecific antibodies. These data shows that pelareorep is clinically indicated ability to recruit T cells into tumors may significantly boost the effectiveness of various immune oncology agents in solid cancers, an area where they have shown limited efficacy to date. They also plan to pursue pelareorep’s development as an enabling technology for multiple classes of immune oncology agents through a partnership strategy, which allows us to remain focused internally on breast cancer and the execution of our stated clinical milestones.