Oncothyreon announces presentations at American Society of Clinical Oncology (ASCO)...

Oncothyreon announces presentations at American Society of Clinical Oncology
(ASCO) Annual Meeting

SEATTLE, May 18 /PRNewswire-FirstCall/ - Oncothyreon Inc. (Nasdaq: ONTY)
(TSX:ONY) today announced upcoming presentations at the American Society of
Clinical Oncology (ASCO) Annual Meeting being held May 29-June 2, 2009 in
Orlando, Florida. Abstracts related to our product candidates Stimuvax(R),
PX-866 and PX-12 are now available to the public online at the ASCO Web site,
www.abstract.asco.org.

Abstracts include:

- "Long-term safety of BLP25 liposome vaccine (L-BLP25) in patients
(pts) with stage IIIB/IV non-small cell lung cancer (NSCLC)"

- Abstract No: 3055 Poster session: Developmental Therapeutics:
Immunotherapy - Saturday May 30, 8:00 AM to 12:00 PM, Level 2,
West Hall C

- "Phase I trial of PX-866, a novel phosphoinositide-3-kinase (PI-3K)
inhibitor"

- Abstract No: 3542 Poster session: Developmental Therapeutics:
Molecular Therapeutics - Saturday May 30, 8:00 AM to 12:00 PM
Level 2, West Hall C

- "Results from phase Ib studies of PX-12, a thioredoxin inhibitor in
patients with advanced solid malignancies"

- Abstract # 2571, Poster Session: Developmental Therapeutics:
Cytotoxic Chemotherapy - Saturday May 30, 8:00 AM to 12:00 PM,
Level 2, West Hall C

About Oncothyreon

Oncothyreon is a biotechnology company specializing in the development of
innovative therapeutic products for the treatment of cancer. Oncothyreon's
goal is to develop and commercialize novel synthetic vaccines and targeted
small molecules that have the potential to improve the lives and outcomes of
cancer patients. For more information, visit www.oncothyreon.com.

Forward-Looking Statements

In order to provide Oncothyreon's investors with an understanding of its
current intentions and future prospects, this release contains statements that
are forward-looking, including statements related to future preclinical and
clinical development plans for our product candidates. These forward-looking
statements represent Oncothyreon's intentions, plans, expectations and beliefs
and are based on its management's experience and assessment of historical and
future trends and the application of key assumptions relating to future events
and circumstances.
Forward-looking statements involve risks and uncertainties, including risks
and uncertainties related to Oncothyreon's business and the general economic
environment. Many of these risks and uncertainties are beyond Oncothyreon's
control. These risks, uncertainties and other factors could cause our actual
results to differ materially from those projected in forward-looking
statements. Risks, uncertainties, and assumptions include those predicting the
timing, duration and results of clinical trials, the timing and results of
regulatory reviews, the safety and efficacy of our product candidates, and the
indications for which our product candidates might be developed. There can be
no guarantee that the results of preclinical studies will be predictive of
either safety or efficacy in future clinical trials. These and other risks and
uncertainties are described in the reports and other documents filed by
Oncothyreon Inc. with the SEC and/or Canadian regulatory authorities.
Although Oncothyreon believes that any forward-looking statements contained
herein are reasonable, it can give no assurance that its expectations are
correct. All forward-looking statements are expressly qualified in their
entirety by this cautionary statement. For a detailed description of the risks
and uncertainties associated with Oncothyreon, you are encouraged to review
the official corporate documents filed with the securities regulators in the
United States on U.S. EDGAR and in Canada on SEDAR. Oncothyreon is under no
obligation to (and expressly disclaims any such obligation to) update or alter
its forward-looking statements whether as a result of new information, future
events, or otherwise.

SOURCE Oncothyreon Inc.

Investor and Media Relations Contact: Julie Rathbun, Rathbun Communications,
(206) 769-9219, ir@oncothyreon.com