BOTHELL, WA and VANCOUVER, June 26 /CNW/ - OncoGenex Pharmaceuticals, Inc. (NASDAQ: OGXI) announced today that it has filed a shelf registration statement on Form S-3 with the US Securities and Exchange Commission and an MJDS prospectus under the multi-jurisdictional disclosure system in the Province of British Columbia.

"It is prudent for us to re-establish a three-year shelf registration statement to provide us with the flexibility to support future opportunities," said Scott Cormack, President and CEO of OncoGenex. "Our focus remains on securing a development and commercialization partner for our OGX-011 program. Based on our discussions with potential partners to date, we believe that a partner would fund most or all of the development costs for our OGX-011 program. Accordingly, we do not expect to offer at the present time securities under this shelf registration to fund our Phase 3 clinical trials for OGX-011."

OncoGenex elected to terminate its previous shelf registration statement originally filed in July 2007.

If declared effective by the SEC and the British Columbia Securities Commission, the shelf registration statement and MJDS prospectus, respectively, will permit OncoGenex Pharmaceuticals to sell, from time to time over a three year period in one or more public offerings, shares of its common stock, shares of its preferred stock, warrants to purchase its common stock or preferred stock or debt securities, or any combination of such securities, for proceeds in the aggregate amount of up to $100 million. The terms of any such future offerings, if any, and the type of equity or debt securities would be established at the time of the offering.

A shelf registration statement relating to these securities has been filed with the SEC and an MJDS prospectus has been filed with the British Columbia Securities Commission but they have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the shelf registration statement becomes effective and a final receipt has been issued for the MJDS prospectus.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering will be made only by means of a prospectus and a related prospectus supplement.

A written preliminary prospectus included in the registration statement or MJDS prospectus, when available, and meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained at the SEC's website http://www.sec.gov/ , through OncoGenex' website at http://www.oncogenex.com , or via written request to OncoGenex Pharmaceuticals, Inc.