Oncolytics Biotech
Oncolytics Biotech is a clinical-stage biopharmaceutical company developing pelareorep, a first-in-class double-stranded RNA immunotherapy, for gastrointestinal cancers including pancreatic, colorectal, and anal cancers, with no commercial product revenue.
- Company typePublic
- Founded1999
- HeadquartersCalgary, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Oncolytics Biotech does
Oncolytics Biotech Inc. is a clinical-stage biopharmaceutical company developing pelareorep, a first-in-class, intravenously delivered double-stranded RNA (dsRNA) immunotherapeutic agent for gastrointestinal cancers. Pelareorep selectively infects tumor cells with RAS pathway mutations, replicates to produce dsRNA, lyses tumor cells, and initiates innate and adaptive immune responses — converting immunologically cold tumors to hot tumors via PD-L1 upregulation, chemokine/cytokine release, and tertiary lymphoid structure formation. The platform has been evaluated in over 1,300 patients with a favorable safety profile and is being advanced in three lead GI indications: metastatic pancreatic ductal adenocarcinoma (mPDAC), KRAS-mutant microsatellite-stable metastatic colorectal cancer (mCRC), and unresectable squamous cell anal carcinoma (SCAC). The company has FDA Fast Track Designation in mCRC and has secured FDA alignment on pivotal trial designs for first-line mPDAC (November 2025) and second-line SCAC (April 2026).
The company is publicly listed on NASDAQ (ONCY) and TSX (ONC), completed its reincorporation from Alberta, Canada to Nevada, USA on March 31, 2026, and now operates from San Diego. Because pelareorep is investigational and not yet approved, Oncolytics generates no product revenue; the business model is R&D-driven with future value contingent on FDA approval and either independent commercialization or — more likely given leadership pedigree — a partnership, licensing, or sale transaction with a large pharmaceutical partner (existing relationships include Roche, Pfizer, Merck KGaA, and Incyte for checkpoint-inhibitor supply and combination development). Capital formation has been primarily through equity (~$35M raised in 2023–2025) and non-dilutive grants ($5M PanCAN Therapeutic Accelerator Award, 2023). Recent strategic priorities include registrational-trial execution, capital-efficient pipeline focus (GOBLET Cohort 5 in pancreatic cancer was discontinued in February 2026), and IP extension (new U.S. manufacturing patent granted June 2026, protection into 2044).
Oncolytics Biotech firmographics
Firmographics- Name
- Oncolytics Biotech
- Legal name
- Oncolytics Biotech Inc.
- Website
- https://oncolyticsbiotech.com
- Company type
- Public
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Oncolytics Biotech is a clinical-stage biopharmaceutical company developing pelareorep, a first-in-class double-stranded RNA immunotherapy, for gastrointestinal cancers including pancreatic, colorectal, and anal cancers, with no commercial product revenue.
- Ownership category
- akta.pro rank
Oncolytics Biotech industry classification
Industry- Product category
- Oncolytic Virus Immunotherapy
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)
- SIC
- Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)
- akta.pro secondary industries
- Oncology Specialty Pharmaceuticals (HLAIACAA), Medical Oncology (HLAKAFAB), Gastrointestinal Oncology (HLAKAFAK)
Keywords
Where Oncolytics Biotech is headquartered
LocationHeadquarters
- HQ city
- Calgary
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Oncolytics Biotech business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Drug Development and Commercialization: Oncolytics Biotech is a clinical-stage biopharmaceutical company developing pelareorep as an investigational immunotherapy for gastrointestinal cancers. The company does not currently have commercialized products and has no revenue from product sales. All revenue potential is tied to successful clinical development and eventual FDA approval and commercialization of pelareorep.
- Partnership and Licensing Deals: The company may generate revenue through strategic partnerships with large pharmaceutical companies, including co-development agreements, milestone payments, and potential licensing arrangements for pelareorep in various cancer indications.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Oncolytics Biotech product offering
Product offeringCore offering
Oncolytics Biotech is a clinical-stage biopharmaceutical company developing pelareorep, a first-in-class double-stranded RNA (dsRNA) immunotherapeutic agent, as a platform immunotherapy for gastrointestinal cancers including metastatic pancreatic ductal adenocarcinoma (mPDAC), metastatic colorectal cancer (mCRC), and unresectable squamous cell anal carcinoma (SCAC). The drug is delivered intravenously and works by generating, recruiting, and training immune cells to recognize and kill cancer while remodeling the tumor microenvironment.
Product overview
Oncolytics Biotech is a clinical-stage biopharmaceutical company developing a single core product, pelareorep, as a first-in-class double-stranded RNA (dsRNA) immunotherapeutic agent. Pelareorep functions as a platform immunotherapy designed for the treatment of gastrointestinal (GI) tumors, with clinical programs targeting metastatic pancreatic ductal adenocarcinoma (mPDAC), metastatic colorectal cancer (mCRC), and unresectable squamous cell anal carcinoma (SCAC). The company's development strategy focuses on advancing pelareorep through multiple clinical trials including the GOBLET study, AWARE-1 trial, and REO 022/033 studies, evaluating the drug in combination with chemotherapy, checkpoint inhibitors (atezolizumab, pembrolizumab), and targeted therapies.
Differentiator
Problem solved
Functional benefit
Products and services
- Pelareorep
Quantifiable outcome
- 62% objective response rate in first-line mPDAC with pelareorep combination therapy versus historical chemotherapy rates
- +6 more outcomes
Companies that use Oncolytics Biotech
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Oncolytics Biotech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Oncolytics Biotech partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Roche Holding AGcoreCo-development partnership with Roche for pelareorep in combination with atezolizumab (checkpoint inhibitor) in gastrointestinal cancers. Roche logo appears on pipeline page indicating ongoing collaboration. AIO-Studien-gGmbH manages GOBLET trial in partnership with Roche.
- Pfizer Inc.corePartnership with Pfizer to evaluate pelareorep in combination with therapeutic agents. Multiple sources confirm co-development agreements with Pfizer for combination therapy development.
- Merck KGaAcorePartnership with Merck KGaA (known as Merck Serono in some regions) for co-development of pelareorep in combination therapies for cancer treatment.
- Incyte CorporationminorCollaboration with Incyte to evaluate pelareorep in combination with therapeutic agents for cancer treatment.
- Adlai NortyeminorPartnership with Adlai Nortye for evaluation of pelareorep in combination with therapeutic agents.
- Mayo CliniccoreAcademic partnership with Mayo Clinic researchers including Professor Richard Vile (Co-Director of Gene and Virus Therapy program and Director of Mayo's Immuno-oncology program) for evaluation of pelareorep-based combinations.
- Rutgers Cancer Institute of New JerseycorePartnership with Rutgers Cancer Institute for clinical trials with Dr. Sanjay Goel serving as Lead Investigator for REO 033 Phase 2 trial and member of Scientific Advisory Board.
- AIO-Studien-gGmbHcoreAcademic research organization managing the GOBLET Phase 1/2 study at 17 centers in Germany, evaluating pelareorep in multiple gastrointestinal cancers.
- SOLTIminorAcademic research partnership for evaluation of pelareorep-based combinations in clinical trials.
- PrECOGminorPartnership with PrECOG for evaluation of pelareorep in clinical trials.
- Memorial Sloan Kettering Cancer CentercoreScientific Advisory Board members Dr. Eileen O'Reilly (Winthrop Rockefeller Endowed Chair of Medical Oncology) and Dr. Neil Segal (Research Director of GI Oncology) from MSK.
- MD Anderson Cancer CentercoreScientific Advisory Board member Dr. Van Morris (Associate Professor in GI Medical Oncology) from MD Anderson Cancer Center.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Oncolytics Biotech competitors and assessment
Company assessmentDirect peers
- Replimune: Clinical-stage biotech developing oncolytic virus immunotherapies (RP1, RP2, RP3) for solid tumors. Most directly comparable to Oncolytics as a pure-play oncolytic virus company pursuing registration-enabling trials in GI and skin cancers.
- CG Oncology: Late-stage oncolytic virus immunotherapy company with nadofaragene firadenovec for bladder cancer. Recently IPO'd and progressing toward BLA submission, offering a direct comp on valuation, registration path, and oncolytic virus commercial model.
- Candel Therapeutics: Clinical-stage biotech developing oncolytic virus immunotherapies (CAN-2409) for prostate cancer and glioblastoma. Direct peer in oncolytic virus modality with late-stage trials and similar regulatory strategy.
- Istari Oncology: Clinical-stage biotech developing PVSRIPO, an oncolytic virus immunotherapy for glioblastoma and other solid tumors. Comparable as an oncolytic virus platform with registration-stage ambitions.
- Genelux Corporation: Clinical-stage biotech developing Olvi-Vec, a next-generation oncolytic virus for ovarian cancer and other solid tumors. Directly comparable in modality, scale, and development stage.
Emerging players
- Turnstone Biologics: Clinical-stage biotech developing oncolytic virus immunotherapies combined with cell therapy for solid tumors. Emerging player with overlapping modality but earlier-stage pipeline.
- SillaJen: Korean biotech developing Pexa-Vec, a oncolytic vaccinia virus for hepatocellular carcinoma and other solid tumors. Comparable as an oncolytic virus company with global development ambitions.
Broad incumbents
- Amgen: Approved Imlygic (talimogene laherparepvec/T-Vec), the first FDA-approved oncolytic virus immunotherapy for melanoma. Broad incumbent that validated the oncolytic virus category and provides commercial benchmark for pelareorep's potential market entry.
- Merck & Co. Major oncology player with Keytruda checkpoint inhibitor franchise that pelareorep is being combined with in clinical trials. Serves as both a partner (separate from Merck KGaA) and a key competitive benchmark in GI cancer immunotherapy.
- Pfizer: Major oncology player and active partner of Oncolytics for pelareorep combination development. Represents the strategic commercial partner profile and potential acquirer, given its track record of acquiring clinical-stage oncology assets (e.g., Trillium Therapeutics for $2.2B).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Oncolytics Biotech social profiles
Digital presenceOncolytics Biotech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Oncolytics Biotech leadership team
Management profileNumber of profiles
Profiles14 records
Oncolytics Biotech funding detail
Funding detailFunding overview
Funding rounds8 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Oncolytics Biotech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Oncolytics Biotech
What does Oncolytics Biotech do?
Oncolytics Biotech is a clinical-stage biopharmaceutical company developing pelareorep, a first-in-class double-stranded RNA (dsRNA) immunotherapeutic agent, as a platform immunotherapy for gastrointestinal cancers including metastatic pancreatic ductal adenocarcinoma (mPDAC), metastatic colorectal cancer (mCRC), and unresectable squamous cell anal carcinoma (SCAC). The drug is delivered intravenously and works by generating, recruiting, and training immune cells to recognize and kill cancer while remodeling the tumor microenvironment.
Is Oncolytics Biotech a public or private company?
Oncolytics Biotech is a public company. It is classified as public and is currently operating.
When was Oncolytics Biotech founded?
Oncolytics Biotech was founded in 1999. It employs 11 to 50 people.
Where is Oncolytics Biotech based?
Oncolytics Biotech is headquartered in Calgary, Canada, in the North America region.
How does Oncolytics Biotech make money?
Two revenue lines are on record. Drug Development and Commercialization is the primary driver. The others are partnership and Licensing Deals.
Who are Oncolytics Biotech's main competitors?
Direct peers on record are Replimune, CG Oncology, Candel Therapeutics, Istari Oncology and Genelux Corporation. Emerging players are Turnstone Biologics and SillaJen. Broad incumbents are Amgen, Merck & Co. and Pfizer.
Does Oncolytics Biotech have an API?
No public API is recorded for Oncolytics Biotech.
What industry is Oncolytics Biotech in?
Oncolytics Biotech's product category is Oncolytic Virus Immunotherapy. Its primary akta.pro industry code is HLAAACAF, Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches), with a secondary code of HLAIACAA, Oncology Specialty Pharmaceuticals. Its NAICS code is 325414 and its SIC code is 2836.