Oncolytics Builds Late-Stage Team for Pivotal Cancer Drug Push

SAN DIEGO, CA – January 14, 2026 – Oncolytics Biotech Inc. today signaled a significant strategic shift towards late-stage execution and commercial readiness with the appointment of two seasoned industry veterans. The clinical-stage immunotherapy company has hired John McAdory as Executive Vice President of Strategy and Operations and Yujun Wu as Vice President, Head of Biostatistics, moves designed to accelerate the path to market for its lead drug candidate, pelareorep.

The appointments come at a critical inflection point for Oncolytics as it prepares to advance pelareorep into registration-directed studies for several aggressive gastrointestinal cancers, including pancreatic, colorectal, and anal cancers. By bringing in leadership with deep experience in navigating the complex final stages of drug development, the company is making a clear statement about its confidence in the therapy and its commitment to an aggressive development timeline.

A Seasoned Roster for the Final Inning

The new hires bring a wealth of highly specific and relevant experience to Oncolytics. John McAdory joins the company from CG Oncology, a late-stage firm that, like Oncolytics, is focused on developing an oncolytic virus. As Vice President of Clinical Operations there, he was instrumental in managing large, registration-directed trials, giving him direct experience in the precise operational challenges Oncolytics now faces.

His track record leading complex, global oncology programs is seen as a major asset. “John’s background running complex, late-stage oncology trials makes him exceptionally well-suited to lead Oncolytics’ next phase of execution,” said Jared Kelly, Chief Executive Officer of Oncolytics, in the company’s official announcement. “As we progress toward pivotal and registration-enabling studies in anal, pancreatic, and colorectal cancers, his experience will be critical to ensuring disciplined execution, speed, and regulatory alignment.”

Complementing McAdory's operational expertise is the appointment of Yujun Wu to lead biostatistics. Wu’s background includes a recent tenure as Head of Biostatistics at Morphic Therapeutic, where he supported multiple programs through late-stage development and played a key role during the company's acquisition by Eli Lilly. Before that, he honed his skills at Takeda, leading statistical strategy for multiple Phase 3 oncology programs and leveraging innovative trial designs to speed up global regulatory approvals.

This expertise is paramount as Oncolytics pursues expedited regulatory pathways. “As we pursue accelerated approval strategies and pivotal trials, high-quality statistical leadership is essential, and Yujun brings that expertise at a critical time for the Company,” Kelly added.

High Hopes for a 'Hot' Tumor Therapy

The strategic leadership reinforcement is centered on the promise of pelareorep, an investigational immunotherapeutic agent delivered intravenously. The drug is designed to work by infiltrating tumors and provoking a powerful immune response, effectively turning immunologically “cold” tumors, which are invisible to the immune system, into “hot” tumors that can be targeted and destroyed.

This mechanism has shown encouraging results across several difficult-to-treat cancers. The company has already received Fast Track designation from the U.S. Food and Drug Administration (FDA) for pelareorep in both metastatic pancreatic cancer and metastatic breast cancer, underscoring the therapy's potential to address significant unmet medical needs.

Recent clinical data has been particularly compelling. In squamous cell anal cancer, a disease with no FDA-approved third-line treatments, pelareorep demonstrated a 29% objective response rate, nearly three times the historical benchmark. Furthermore, Oncolytics has secured alignment with the FDA on the design for a pivotal Phase 3 study in first-line metastatic pancreatic cancer, positioning it to launch what could be the only immunotherapy registration trial currently planned for this devastating disease.

Charting an Accelerated Path to Approval

Oncolytics is entering a fiercely competitive immuno-oncology market, which is projected to grow into a nearly $186 billion industry by 2035. In this environment, speed and execution are critical. The appointments of McAdory and Wu are a direct effort to optimize the company’s navigation of the FDA's expedited regulatory programs.

Pathways like Fast Track and Accelerated Approval are designed to get promising drugs to patients faster, but they demand rigorous data and sophisticated trial design. Wu’s expertise in biostatistics and regulatory interactions is central to designing studies that can meet the high bar for these pathways. His experience at Takeda in using innovative trial designs to secure global approvals will be invaluable as Oncolytics finalizes its pivotal study protocols.

McAdory’s role will be to ensure these complex trials are executed flawlessly across multiple sites and geographies. His experience with oncolytic viruses at CG Oncology and SillaJen provides him with a unique understanding of the logistical and regulatory nuances of this specific class of therapy, reducing the learning curve and potential for costly delays as Oncolytics scales up its operations for its most important clinical programs to date.

A Clear Signal to the Market

Beyond the operational and clinical implications, the new hires—and the terms of their employment—send a strong strategic signal to investors. Both executives received substantial inducement equity awards to join the company. Notably, McAdory's package includes 300,000 restricted share units (RSUs) that vest only upon the occurrence of a “material transaction,” which the company defines as a merger, acquisition, or major licensing deal.

This specific clause is a clear indicator that Oncolytics is not only preparing for late-stage clinical success but is also actively positioning itself for a future strategic partnership or acquisition. For a clinical-stage biotech, a successful exit via a partnership with a major pharmaceutical company or an outright sale is often the ultimate goal, providing the resources to bring a drug to market globally and delivering a significant return to shareholders.

By tying a key executive’s compensation directly to such an outcome, the board is aligning leadership’s incentives with a potential strategic endgame. This move suggests that the company believes the upcoming clinical data from its pelareorep programs will be strong enough to attract significant interest from larger players in the oncology space, making these strategic hires a crucial step in preparing the company for its next and most decisive chapter.