Oncos Therapeutics Increases Clinical Momentum With Appointment of Chief Medical Officer

HELSINKI, February 9, 2011 - Oncos Therapeutics, a biotech company developing novel cancer
therapeutics based on its next generation oncolytic viruses, announced today
the appointment of Dr. Mikael von Euler, MD, PhD, FFPM, as Chief Medical
Officer. Earlier this year, the Company announced the appointments of Dr.
Jonathan Knowles and Dr. Robert Burns to its Board of Directors.

"Oncos has already treated over 200 patients across different
solid tumor types with many different formulations of its next generation
oncolytic viruses - and this has created a unique platform of patient
response data from which the company can now build the highest quality
data-driven clinical development program," comments Mikael von Euler.Mikael
is a clinical development professional and a seasoned oncology executive,
bringing more than 20 years of pharmaceutical industry experience in senior
roles. Most recently with Roche during 2007-2010, Mikael first held global
clinical responsibility for the HER family of compounds including Herceptin,
pertuzumab and Tarceva. As part of the Oncology Leadership Team, Mikael acted
in 2009-2010 as a Cluster Head for the HER2 Franchise. Prior to Roche, Mikael
was Vice President, Oncology MDC, Europe, at GlaxoSmithKline. Prior to
GlaxoSmithKline, he worked across several key clinical development roles at
AstraZeneca from 1995-2005, including Director of Clinical Strategy in Japan
and Global Product Director Oncology, working with products including
Arimidex, Zoladex, Nolvadex, Faslodex and Iressa. Mikael is an oncologist and
PhD from Karolinska Institutet and a Fellow of the Faculty of Pharmaceutical
Medicine of the Royal Colleges of Physicians, UK.

"Mikael brings a wealth of clinical development and regulatory
expertise to Oncos and he will have a key role in turning our Advanced
Therapy Access Program and the virus platform into a clinical development
program," 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, Email: firstname.lastname at oncos.com