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Onyx Pharmaceuticals Announces Data Presentations Highlighting Carfilzomib and ONX 0803 at 51st American Society of Hematology Annual Meeting

Wednesday, November 11, 2009 General News J E 4
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EMERYVILLE, Calif., Nov. 10 Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced nearly 20 presentations evaluating carfilzomib and ONX 0803 (SB 1518) in hematological cancers at the 51st American Society of Hematology (ASH) Annual Meeting December 5-8, 2009 in New Orleans, LA. Among the data presentations are four oral and seven poster presentations highlighting data from the carfilzomib development program in patients with relapsed and refractory multiple myeloma. Onyx Pharmaceuticals has previously announced its intent to acquire Proteolix Inc. Until the transaction closes, carfilzomib remains an asset of Proteolix Inc.

"The breadth of data being presented at ASH showcases our growing, diverse oncology pipeline, which we expect to fuel the future growth of Onyx, and positions the company to bring multiple, new treatment options to cancer patients," said Todd Yancey, vice president clinical development at Onyx. "Despite recent treatment advances, multiple myeloma remains a disease with poor long-term survival and there is a tremendous need for new therapies. Assuming the Proteolix transaction closes, our development plan will include evaluating carfilzomib, a next-generation selective proteasome inhibitor, across multiple lines of therapy, as a single agent and in combination with other therapies for the treatment of multiple myeloma."

Carfilzomib data highlights include:

Multiple Myeloma

ONX 0803 (SB1518) data highlights include:

Lymphoma

About Onyx Pharmaceuticals, Inc.

Onyx Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of people with cancer. The company, in collaboration with Bayer HealthCare Pharmaceuticals, Inc., is developing and marketing NexavarŽ, a small molecule drug. Nexavar is currently approved for the treatment of liver cancer and advanced kidney cancer. Additionally, Nexavar is being investigated in several ongoing trials in a variety of tumor types. For more information about Onyx, visit the company's website at www.onyx-pharm.com.

Forward Looking Statements

This news release contains "forward-looking statements" of Onyx within the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding the consummation and anticipated benefits of the proposed acquisition of Proteolix and the timing, progress and results of the clinical development, safety, regulatory processes, commercialization efforts or commercial potential of carfilzomib. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated, including risks related to the ability of each company to meet the conditions necessary to close this transaction, the risk that Proteolix's operations will not be integrated successfully into Onyx's, the risk that Onyx may not realize the anticipated benefits of the acquisition and risks related to the development and commercialization of pharmaceutical products. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Reference should be made to Onyx's Annual Report on Form 10-K for the year ended December 31, 2008, filed with the Securities and Exchange Commission under the heading "Risk Factors" and Onyx's Quarterly Reports on Form 10-Q for a more detailed description of such factors. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

NexavarŽ (sorafenib) tablets is a registered trademark of Bayer HealthCare Pharmaceuticals.

-- Updated Results of Bortezomib-Naive Patients in PX-171-004, an Ongoing, Open-Label, Phase II Trial of Single-Agent Carfilzomib (CFZ) in Patients with Relapsed or Refractory Myeloma (MM) -- Dr. Michael Wang, University of Texas MD Anderson Cancer Center -- Monday, December 7, 2009, 7:15 - 7:30 a.m., La Nouvelle Ballroom AB -- Oral Session: Myeloma - Therapy, Excluding Transplantation I -- Abstract # 302

SOURCE Onyx Pharmaceuticals, Inc.
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