CALGARY, May 23, 2017 /PRNewswire/ - Oncolytics
Biotech® Inc. (Oncolytics or the Company) (TSX:ONC)
(OTCQX:ONCYF) today announced that it will undertake a public
offering (the "Offering") of securities of the Company
("Securities"). The Offering will be effected pursuant
to a prospectus supplement (the "Prospectus Supplement") to the
Company's base shelf prospectus dated February 16, 2016 (together with the Prospectus
Supplement, the "Prospectus"), to be filed with securities
regulators in each of the Provinces of Canada, other than Quebec. The Securities may also be offered for
sale in the United States pursuant
to exemptions from the registration requirements of the U.S.
Securities Act and applicable state laws. The number of Securities
to be distributed, the price and other terms of the Offering will
be determined in the context of the market with final terms to be
determined at the time of pricing.
The Offering is subject to a number of conditions, including,
without limitation, receipt of approval of the Toronto Stock
Exchange. Oncolytics expects to use the net proceeds from the
offering for working capital, expanding partnering activities and
advancing the clinical program for metastatic breast cancer.
A preliminary prospectus supplement and accompanying prospectus
describing the terms of the proposed offering will be filed with on
SEDAR. Copies of the preliminary prospectus supplement and
accompanying prospectus relating to the offering may be obtained,
when available, from the underwriter. Electronic copies of the
preliminary prospectus supplement and accompanying prospectus will
also be available on SEDAR at www.sedar.com.
The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "1933
Act) or any applicable securities laws of any state of the United States and may not be offered or
sold in the United States, or to,
or for the account or benefit of, a U.S. person absent such
registration or an applicable exemption to such registration
requirements. This press release does not constitute an offer
to sell, or the solicitation of an offer to buy, these securities,
nor will there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale is not
permitted, including, but not limited to, the United States.
About Oncolytics Biotech Inc.
Oncolytics is a
biotechnology company developing REOLYSIN, an immuno-oncology
viral-agent, as a potential treatment for a variety of tumor types.
The compound induces selective tumor lysis and promotes an inflamed
tumor phenotype through innate and adaptive immune responses to
treat a variety of cancers. Oncolytics' clinical development
program emphasizes three pillars: chemotherapy combinations to
trigger selective tumor lysis; immuno-therapy combinations to
produce adaptive immune responses; and immune modulator (IMiD)
combinations to facilitate innate immune responses.
Oncolytics is currently planning its first registration study in
breast cancer, as well as studies in combination with checkpoint
inhibitors and IMID/targeted therapies in solid and hematological
malignancies. For further information about Oncolytics, please
visit: www.oncolyticsbiotech.com.
This press release contains forward-looking statements,
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements, including the
Company's expectations related to the Phase 2 clinical trial in
prostate cancer and the Phase 1b
trial in pancreatic cancers, future trials in these indications,
and the Company's belief as to the potential of REOLYSIN as a
cancer therapeutic, involve known and unknown risks and
uncertainties, which could cause the Company'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 as a cancer
treatment, the tolerability of REOLYSIN outside a controlled test,
the success and timely completion of clinical studies and trials,
the Company's ability to successfully commercialize REOLYSIN,
uncertainties related to the research, development and
manufacturing of pharmaceuticals, changes in technology, general
changes to the economic environment 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 should
consider statements that include the words "believes", "expects",
"anticipates", "intends", "estimates", "plans", "projects",
"should", or other expressions that are predictions of or indicate
future events or trends, to be uncertain and forward-looking.
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 laws.
SOURCE Oncolytics Biotech Inc.