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OncoGenex Pharmaceuticals Announces OGX-427 Treatment Demonstrates Safety, Evidence of Declines in Circulating Tumor Cells and Reductions in Tumor Markers in a Phase 1 Cancer Trial
Date:5/30/2009

se technology, licensed from Isis Pharmaceuticals (NASDAQ: ISIS), to effectively target and inhibit production of specific proteins in tumor cells. OncoGenex and Isis partnered in the successful discovery of OGX-011, OGX-427 and OGX-225 and with respect to OGX-011, in its initial development. In 2008, OncoGenex and Isis amended their OGX-011 agreement to provide OncoGenex with sole rights to OGX-011 and sole responsibility for development and related costs and partnering decisions, subject to financial obligations to Isis. OncoGenex is also solely responsible for development and related costs and partnering decisions regarding OGX-427 and OGX-225. Key intellectual property related to OGX-011, OGX-427 and OGX-225 were discovered by the University of British Columbia and the Vancouver Prostate Centre, and were exclusively licensed to OncoGenex.

More information about OncoGenex is available at www.oncogenex.com.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements concerning the potential survival benefit of OGX-011, anticipated clinical development activities, timing of these activities, the ability of future trials to demonstrate clinical benefit and the potential for regulatory approvals. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements.

The potential risks and uncertainties associated with forward-looking statements include, among
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SOURCE OncoGenex Pharmaceuticals, Inc.
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2. OncoGenex Pharmaceuticals Announces Release of Two ASCO Abstracts: Impact of OGX-011 on Survival in Randomized Phase 2 Trial and Phase 1 Safety Data for OGX-427
3. OncoGenex Pharmaceuticals Clinical Programs to be Featured in Oral Presentations at the American Society of Clinical Oncology Annual Meeting
4. OncoGenex Reports First Quarter Financial Results
5. OncoGenex Pharmaceuticals to Release First Quarter Financial Results
6. OncoGenex Receives Confirmation from FDA on the Design of a Second Phase 3 Trial Evaluating OGX-011 for the Treatment of Advanced Prostate Cancer
7. OncoGenex Pharmaceuticals Named Life Sciences Company of the Year by LifeSciences British Columbia
8. OncoGenex Reports Financial Results for Fourth Quarter and Fiscal Year 2008 and Provides Outlook for 2009
9. OncoGenex Pharmaceuticals to Webcast Financial Results for Fourth Quarter and Fiscal Year 2008 and Provide Outlook for 2009
10. OncoGenex Provides Update on Two-Year Survival Data from Ongoing Phase 1/2 Clinical Trial of OGX-011 in Non-Small Cell Lung Cancer
11. OncoGenex To Present At The RBC Capital Markets 2008 Healthcare Conference
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