corporate presentation _7_dec_2015

Corporate Presentation

December 7, 2015

Forward Looking StatementsThis presentation contains certain forward looking statements relating to the company’s financial results, business prospects and the development and commercialization of REOLYSIN®, a therapeutic reovirus. These statements are based on management’s current expectations and beliefs and are subject to a number of factors which involve known and unknown risks, delays, uncertainties and other factors not under the company’s control which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward looking statements. In any forward looking statement in which Oncolytics Biotech® Inc. expresses an expectation or belief as to future results, such expectations or beliefs are expressed in good faith and are believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will be achieved. These factors include results of current or pending clinical trials, risks associated with intellectual property protection, financial projections, market projections, actions by the FDA/HPB/MHRA and those other factors detailed in the company’s filings with SEDAR and the Securities and Exchange Commission. Oncolytics does not undertake an obligation to update the forward looking statements, except as required by applicable laws.

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Oncolytics Overview

Conducted 30+ clinical studies in 13 indications

400+ issued patents and 235 pending applications worldwide

1,100+ patients treated; strong safety profile

Developing REOLYSIN®(oncolytic virus) as a cancer therapeutic

$30.56 million total current assets as at the end of Q3, 2015

Manufacturing at commercial scale100L cGMP completed

What is REOLYSIN®?

Proprietary isolate of the reovirus

Widely found

Non-pathogenic

Widespread human exposure

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REOLYSIN® and SafetyGeneral Safety 1,100+ patients treated, 1,000+ of these intravenously No MTD reached Safety profile confirmed in a randomized setting

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Monotherapy Safety Mild toxicities (grade 1 or 2) including

Transient grade 3 and 4 toxicities included lymphopenia or neutropenia – symptoms usually last < 6 hours

• Chills• Fever• Headache

• Cough• Myalgia• Runny nose

• Sore throat• Fatigue• Lymphopenia or neutropenia

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REOLYSIN® Clinical Program

GLIOMA

PROSTATE

OVARIAN

COLORECTAL

LUNG

PANCREATIC

MYELOMA

MELANOMA

HEAD AND NECK

BREAST

BLADDER

Indication Studies

Ongoing Study Completed Study

REO 001 Phase I

REO 007Phase I/II

REO 002 Phase I

REO 003 Phase I/II

REO 004 Phase I

REO 005 Phase I

NCI (MAYO –MC0672 )Phase II

REO 009Phase I

REO 011Phase I/II

MAY0 (MC-1472)Phase I

REO 015Phase II

REO 017Phase I/II

REO 018Phase III

REO 020Phase II

REO 022Phase II

NCI (GOG-0186H)Phase II

REO 013 Brain Phase I

NCI 8601Phase II

IND 209Phase II

IND 210Phase II

NCI (OSU-07022)Phase I/II

IND 213Phase II

NCI (OSU-11148)Phase I

NCI 9603Translational

REO 014 Phase II

REO 016Phase II

REO 021Phase II

IND 211Phase II

REO 008 Phase II

NCI (COG-ADVL1014)Phase I Orphan Status

Orphan Status

Orphan Status

REO 023Run-In Study

REO 019Phase I b

REO 024Phase I b

REOLYSIN®: Delivery to the Tumour Site

When delivered intravenously as a monotherapy, REOLYSIN® has been shown to be delivered to the interior of a tumour in:Colorectal cancer metastatic lesions to the liverBrain metastases from various primariesPrimary gliomas and astrocytomasOvarian cancerMultiple myeloma (the majority of cell tumour

population in bone marrow lesions)

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REOLYSIN®:Reducing Tumour Burden

REOLYSIN® Mechanism of Action

REOLYSIN®infects both tumour cellsand normal healthy cells

REOLYSIN® does not replicate in cells that are not Ras activated

Healthy cells remain undamaged

REOLYSIN®

Administer to patients

PRE-SCREENED

for RAS, EGFR,

BRAF and others

Normal Cells

REOLYSIN® infects both tumour cells and normal healthy cells

REOLYSIN® replicates in Ras-activated tumour cells

Tumour cells then rupture to release progeny virus

Ras–Activated Cells

Cellular stress event

REOLYSIN’s ability to kill tumour cells is

dependent upon the reovirus’ completion

of its replication cycle.

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Days after REOLYSIN® administration:

0 3 43 88 167 537

REO 003: REOLYSIN® IntratumouralMonotherapy Anaplastic Astrocytoma

Early Cytotoxic Activity Followed by Late Stage Immune-Mediated Response Against the Residual Tumour

Viral replication mediated tumour response

Post debulking Immune mediated tumour response

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REO 021: Partial Response in Patient with Squamous Cell Carcinoma of the Lung

Right Upper Lung Mass (8.3 cm)

Pre-Treatment

Right Pleural Met (2.2 cm)


Post-Cycle 2



Post-Cycle 4


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REO 018 Head and Neck Cancer: Randomized Tumour-Specific Response Data

First Endpoint: Velocityo 105 patientso 86% of test arm (n=50) had

tumour stabilization or shrinkageo 67% of control arm (n=55) had

tumour stabilization or shrinkageo p-value 0.025

Second Endpoint: VolumeLoco-regional patients with or without distal metastaseso 23% improvement in test arm vs.

control for tumour volume decreaseo p-value 0.076, n=118

Patients with distal metastases only o 30% improvement in test arm vs.

control for tumour volume decreaseo p-value 0.021, n=47

Study demonstrated that REOLYSIN® increased both the magnitude and velocity of tumour shrinkage

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REOLYSIN® Plus Carfilzomib Response Data in Multiple Myeloma

-100

-80

-60

-40

-20

05 8 4 7 6 3 1 2

% C

hang

e of

M

onoc

lona

l Pro

tein

Patients Evaluable for Response

Responses evaluated using International Myeloma Working Group (IMWG) Criteria :• Patients 1 & 2 = Very Good Partial Response (VGPR)

• Patients 3, 6 & 7 = Partial Response (PR)• Patients 4, 5 & 8 = Minor Response (MR)

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Registration Program for REOLYSIN®Tumour Reduction Endpoints:

Neoadjuvant treatment of muscle-invasive bladder cancer Neoadjuvant = therapy used prior to a major therapeutic intervention (usually

surgery) in order to improve outcome Muscle invasive bladder cancer is the only cancer indication in which US

regulators have accepted histopathological response as a registration endpoint in a neoadjuvant study to date

Each patient enrolled in the study will be assessable for this endpoint at a maximum of nine weeks after starting treatment

Next Steps: IND has been filed to conduct a small “run-in” study assessing

histopathological response in muscle invasive bladder cancero REOLYSIN® in combination with gemcitabine and cisplatin

Subject to confirmation of response – proceed to pivotal trial

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REOLYSIN®: Improving Overall Survival

REOLYSIN® Mechanism of Action

REOLYSIN®infects both tumour cellsand normal healthy cells

REOLYSIN® does not replicate in cells that are not Ras activated

Healthy cells remain undamaged

REOLYSIN®

Administer to patients

PRE-SCREENED

for RAS, EGFR,

BRAF and others

Normal Cells

REOLYSIN® infects both tumour cells and normal healthy cells

REOLYSIN® replicates in Ras-activated tumour cells

Tumour cells then rupture to release progeny virus

Progeny viruses repeat cell infection cycle in nearby tumour cells

Ras–Activated Cells

Productively infected cells upregulate interferon and others, including PD-1 and PD-L1, and induce an anti-tumour specific immune response mediated by T cells

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Cellular stress event

Days Post Treatment:

0 3 43 88 167 537

REO 003: REOLYSIN® IntratumouralMonotherapy Anaplastic Astrocytoma

Early Cytotoxic Activity Followed by Late Stage Immune-Mediated Response Against the Residual Tumour

Viral replication mediated tumour response

Post debulking Immune mediated tumour response

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Patient Outcomes Are Influenced By Immune Status The survival rate of ovarian cancer patients with high PD-L1 expression on

entry is statistically significantly worse than that of patients with low PD-L1 expression on entry. Five year survival was 80.2% for patients with low PD-L1 expression on entry and 52.6% for

those with high PD-L1 expression on entry (p = 0.016). Mean survival was 9.56 years for patients with low PD-L1 expression on entry and 6.48 years

for those with high PD-L1 expression on entry.1

The survival rate of ovarian cancer patients with high intraepithelial CD8+ T lymphocyte counts on entry is statistically significantly better than that of patients with low CD8+ T lymphocyte counts. Five year survival was 86.9% for patients with high CD8+ T lymphocyte counts on entry and

39% for those with low CD8+ T lymphocyte counts on entry (p < 0.001). Mean survival was 9.6 years for patients with high CD8+ T lymphocyte counts on entry and 4.7

years for those with low CD8+ T lymphocyte counts on entry.1

1 Hamanishi et al. 2007. Programmed cell death 1 ligand 1 and tumor-infiltrating CD8+ T lymphocytes are prognostic factors of human ovarian cancer. PNAS 104(9):3360-3365.

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REOLYSIN® in Multiple Myeloma

VariableREOLYSIN®

Monotherapy,Pre-Treatment

REOLYSIN®Monotherapy,

Post-TreatmentStatistics

REOLYSIN® + Carfilzomib,

Pre-Treatment

REOLYSIN® + Carfilzomib,

Post-Treatment

Statistics

CD8 58.0 (21.5) 63.9 (18.3) not significant 37.8 (8.5) 84.6 (26.8) p=0.060

PD-L1 20.8 (9.2) 30.6 (11.5) not significant 74.2 (49.5) 208.2 (31.1) p=0.005

caspase-3 5.4 (0.6) 6.2 (0.9) not significant 6.2 (0.8) 24.8 (4.3) p=0.005

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Data supplied by Dr. J. Nuovo

Top-Line Overall Survival (OS) ResultsREO 017 (Pancreatic Cancer) – Comparison with ACCORD 11 and MPACT Studies:

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Treatment nCA19.9 ≥20%

Decrease from Baseline

Median PFS

(months)

Median OS (months)

1-Year Survival

(%)

2-YearSurvival

(%)

Gemcitabine (ACCORD 11) (Conroy et al., 2011) 171 N/A 3.3 6.8 20 2

Gemcitabine (MPACT)(Van Hoff et al., 2013)(Goldstein et al., 2015)

430 44 3.7 6.6 22 5

Gemcitabine/REOLYSIN®(REO 017) 33 70 4.0 10.2 45 24

Top Line Overall Survival (OS) Results

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REO 016 (Non-Small Cell Lung Cancer) – Comparison with Schiller et al., 2002:

Treatment n Median PFS (months)

Median OS (months)

1-Year Survival (%)

2-YearSurvival

(%)

Carboplatin and paclitaxel (Schiller et al., 2002) 290 3.1 8.1 34 11

Carboplatin, paclitaxel and REOLYSIN® (REO 016) 37 4.0 13.1 57 30

Immune Preclinical Research In ovarian cancer models in mice:

Combination of gemcitabine and reovirus type 3 improved overall survival

In melanoma models in mice: Combination of GM-CSF with REOLYSIN® improved overall

survival

In brain cancer models in mice: Combination of a checkpoint inhibitor (anti-PD-1) with

REOLYSIN® improved overall survival

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Enhancing Immune Responses to Improve Overall Survival Ongoing preclinical and clinical research has led to

three clinical programs:1. Gemcitabine in combination with REOLYSIN® (REO 009

and REO 017); 2. GM-CSF in combination with REOLYSIN® (Mayo

(pediatric) and Leeds (adult)); or3. Checkpoint inhibitors in combination with REOLYSIN®

(first study: pancreatic cancer, standard of care plus REOLYSIN® plus pembrolizumab)

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Advanced Gliomas A key finding from REO 013 was that REOLYSIN® can cross the blood brain barrier

and subsequently infect and kill tumour in the brain, as well as primary gliomas and metastatic lesions from other primary cancers outside brain

We have completed and initiated four studies of REOLYSIN® in glioma patients: REO 003: Phase 12 local monotherapy REO 007: Phase 12 infusion monotherapy REO 013b: Phase 1 IV prior to surgical resection MC1472: Phase 1 IV combined with GM-CSF pediatric (ongoing)

Second study assessing response in adult patients receiving REOLYSIN® and the standard of care (surgery followed by radiation and temozolomide)

Subject to confirmation of best approach – proceed to pivotal trial, which will also measure overall survival

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Registration Program for REOLYSIN®

Manufacturing & Intellectual Property

Manufacturing

Now produced at 100L (commercial scale) under cGMP with final formulation

Commercial manufacturing agreement in place with Sigma-Aldrich® Fine Chemicals (SAFC)

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Patent Portfolio More than 400 patents issued

worldwide, including 56 US and 20 Canadian

Reovirus issue patent claims cover:o Compositions of matter comprising reovirus o Pharmaceutical use of reoviruses to treat

neoplasia and cellular proliferative diseases o Combination therapy with radiation,

chemotherapy and/or immune suppressants o Methods for manufacturing reovirus and

screening for susceptibility to reoviruso Pharmaceutical use of reoviruses in

transplantation procedures

Approximately 235 pending applications worldwide

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Corporate & Financial

Market & Capital Data

(all amounts in CAD)

Exchanges OTCQX:ONCYF

TSX:ONC

Shares Outstanding (September 30, 2015)

117,963,979

Price

Options Outstanding (September 30, 2015)

$3.16 (weighted average)

5,531,394

Fully Diluted (September 30, 2015) 123,495,373

Total Current Assets (September 30, 2015)

$30.56 M

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Investment Highlights

Five ongoing randomized Phase II studies Ovarian, colorectal, non-small cell lung, prostate and breast cancers

Preparing for registration study and first checkpoint inhibitor study

Safety data for 1,100+ patients Strong intellectual portfolio

More than 400 patents worldwide

Manufacturing at commercial scale

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Corporate Presentation

December 7, 2015

corporate presentation _7_dec_2015

Investor Relations