OncoGenex Pharmaceuticals Names Michelle Burris Executive Vice President, Operations and Chief Financial Officer

November 8, 2010

BOTHELL, WA, and VANCOUVER, Nov. 8 /PRNewswire-FirstCall/ – OncoGenex Pharmaceuticals,
Inc. (NASDAQ: OGXI) today announced the appointment of Michelle Burris to the position of executive vice president, operations and chief
financial officer. Ms. Burris, a seasoned public company executive,
brings over 20 years of financial and operations management experience
to OncoGenex. 

Ms. Burris, who will join the company in this capacity on January 3,
, is currently a member of the board of directors of OncoGenex,
which she joined following the merger with Sonus Pharmaceuticals. Prior
to the merger, Ms. Burris had served on the Sonus board of directors
since 2004.

“Having the pleasure of working with Michelle on the board of directors,
we are confident that we will benefit from her broad range of
experience in strategic planning, financial management and operational
oversight as we continue to advance our clinical candidates towards
commercialization,” said Scott Cormack, president and chief executive
officer of OncoGenex.

Ms. Burris most recently served as senior vice president and chief
operating officer for Trubion Pharmaceuticals, Inc. until its recent
acquisition by Emergent BioSolutions, Inc. She joined Trubion in 2006
as senior vice president and chief financial officer after holding
similar positions at Dendreon Corporation and Corixa Corporation. She
participated in the development and approval of Bexxar(R), an antibody
drug approved for the treatment of non-Hodgkin’s lymphoma, the
negotiation of rights to multiple clinical and pre-clinical product
candidates, and the sales of Trubion to Emergent BioSolutions, Inc. and
of Corixa to GlaxoSmithKline. Ms. Burris also played an integral role
in raising over $600 million of capital through public offerings, other
equity transactions and company acquisitions. Prior to entering the
biotechnology field, she served in numerous management positions at The
Boeing Company and, prior to that, as a research analyst at Cypress
International Inc., a Washington, D.C.-based high-technology consulting

“I am joining a management team at OncoGenex with an outstanding track
record of delivering on set objectives, advancing clinical programs
with speed and efficiency, and creating value from drug development
candidates. The company’s combination of proven leadership, varied
clinical pipeline, and growth prospects presents a compelling
opportunity,” said Ms. Burris.

Ms. Burris also sits on the board of directors of the Washington
Biotechnology and BioMedical Association and the Executive Advisory
Board of the Albers School of Business and Economics at Seattle
. She holds a Postgraduate Certificate in accounting and an
MBA from Seattle University, a BS from George Mason University, and she
has passed the CPA exam.

About OncoGenex

OncoGenex is a biopharmaceutical company committed to the development
and commercialization of new cancer therapies that address treatment
resistance in cancer patients. OncoGenex has a deep oncology pipeline,
with each product candidate having a distinct mechanism of action and
representing a unique opportunity for cancer drug development.
OncoGenex and Teva Pharmaceuticals have entered a global collaboration
and license agreement to develop and commercialize OncoGenex’ lead drug
candidate, custirsen.  Custirsen is currently in Phase 3 clinical
development as a treatment in men with metastatic castrate-resistant
prostate cancer. The companies plan to begin Phase 3 development of
custirsen in first-line treatment of advanced, unresectable non-small
cell lung cancer in 2011; OGX-427 is in Phase 2 clinical development;
SN2310 has completed a Phase 1 clinical trial; and CSP-9222 and OGX-225
are currently in pre-clinical development. More information is
available at www.OncoGenex.com.

OncoGenex’s Forward Looking Statements

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, but not limited to,
statements concerning Ms. Burris’ appointment and our anticipated
product development activities. 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. Such
forward-looking statements are subject to risks and uncertainties,
including, among others, uncertainties regarding our future operating
results, the risk that our product candidates will not obtain the
requisite regulatory approvals to commercialize or that the future
sales of our product candidates may be less than expected, and the risk
factors set forth in the Company’s filings with the Securities and
Exchange Commission, including the Company’s Quarterly Report on Form
10-Q for the quarter ended June 30, 2010. The Company undertakes no
obligation to update the forward-looking statements contained herein or
to reflect events or circumstances occurring after the date hereof,
other than as may be required by applicable law.

SOURCE OncoGenex Pharmaceuticals, Inc.

Source: newswire

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