Oncos Therapeutics Appoints Dr. Jonathan Knowles and Dr. Robert Burns to the Board of Directors

HELSINKI, January 20, 2011 - Oncos Therapeutics, a biotech company developing novel cancer
therapeutics based on its next generation oncolytic viruses, announced today
the appointments of Dr. Jonathan Knowles and Dr. Robert Burns to the Board of
Directors.

"This is one of the most interesting new approaches to cure
cancer. The anti-tumor immune response induced by a virus that kills cancer
cells is a very promising combination," comments Dr. Jonathan Knowles.

"Oncology needs new treatment strategies. Oncos Therapeutics
has a wide body of promising clinical data from over 200 patients and ten
oncolytic viruses. This is a great platform to build a great company,"
comments Dr. Robert Burns.

Dr. Jonathan Knowles has a distinguished career that has
spanned decades in both academia and the pharmaceutical industry, including
most recently his role as president of group research at Roche, a position he
has held since 2007, and member of that organization's Corporate Executive
Committee since 1998. Dr. Knowles was a member of the Genentech Board for the
last 12 years and a member of the Chugai Board for seven years. He has also
served as Chairman of the Research Directors' Group of EFPIA (European
Federation of Pharmaceutical Industry Associations) and was the first
chairman of the Board of the Innovative Medicines Initiative, a unique
public-private partnership between 28 Pharmaceutical companies and the
European Commission with a budget of more than 2 Billion Euros over five
years. In 2010, Dr. Knowles was awarded the Scrip's Lifetime Achievement
Award for his long academic and commercial career distinguished by his
passion for personalized medicine. Currently Dr. Knowles is Chief Scientific
Officer and a Board Member at Caris Life Sciences.

Dr. Robert Burns has extensive experience in building
biotechnology companies. Previously, Dr. Burns was CEO of Affitech
(NASDAQ/OMX) and CEO of Celldex Therapeutics (NASDAQ), responsible for
executing successful development, merger and financing strategies. Prior to
Celldex, Dr. Burns was Director of Technology Licensing at the Ludwig
Institute for Cancer Research, where he held key leadership roles in the
spin-out of 3 successful companies: Piramed in the UK, Lymphatix in Finland
and Recepta, an antibody therapeutics business in Brazil. Prior to that he
was Commercial Director at both Oxford Glycosciences and British Biotech.
Currently Robert is CEO of 4-Antibody and also non-executive Chairman of
Haemostatix.

"We are really excited with the wealth of experience Jonathan
and Robert bring in opening new therapeutic strategies and building them into
businesses that help patients," comments Pekka Simula, CEO and Co-Founder of
Oncos Therapeutics.

About Oncos Therapeutics

Oncos Therapeutics develops novel cancer therapies based on
its next generation oncolytic viruses. The company's unique Advanced Therapy
Access Program was started in 2007 for cancer patients in whom
standard-of-care therapies have failed. Today, over 200 patients have
undergone individually tailored oncolytic virus therapy suggesting strong
safety and efficacy. The program is based on scientific research at the
University of Helsinki and serves as the foundation for ongoing clinical
development with company's lead agent CGTG-102, selected from the total of
ten viruses used. Oncos Therapeutics publishes an oncolytic virus blog
oncolyticvirus.wordpress.com. For more information about Oncos visit
www.oncos.com.

Media contact: Timo Ahopelto, VP Strategy, Oncos Therapeutics, timo.ahopelto at oncos.com, +358-400-569-628