AURORA, ON, Oct. 15 /CNW/ - Helix BioPharma Corp. (TSX: HBP / Frankfurt:
WKN 918864) announced today that Jerome F. McElroy has resigned as Chairman
and a director of the Company to pursue his retirement interests.
"Jerry has had a long involvement with the Company since its amalgamation
in 1995," said Don Segal, President and Chief Executive Officer. "On behalf of
the Company, I thank him for his positive contributions and wish him well with
his future endeavors."
The Company has entered into an agreement with Mr. McElroy in respect of
his resignation, pursuant to which Mr. McElroy will receive the equivalent of
approximately one year's salary and benefits in a lump sum payment made today
of $350,000, plus termination payments for one year of $3,000 per month and
contributions to his medical benefits of $12,000 per year for four years.
The Company will designate a new Chairman to succeed Mr. McElroy in the
About Helix BioPharma Corp.
Helix BioPharma Corp. is a biopharmaceutical company specializing in the
field of cancer therapy. The Company is actively developing innovative
products for the prevention and treatment of cancer based on its proprietary
technologies. Helix's product development initiatives include its Topical
Interferon Alpha-2b, for the treatment of conditions caused by the human
papilloma virus, and its novel L-DOS47 new drug product candidate for the
treatment of lung adenocarcinoma. Helix is listed on the Toronto Stock
Exchange under the ticker symbol "HBP".
This News Release contains certain forward-looking statements and
information regarding Helix's product development initiatives, Topical
Interferon Alpha-2b and L-DOS47. Forward-looking statements and information
can be identified by the use of forward-looking terminology such as
"developing" and "initiatives". Helix's actual results could differ materially
from those anticipated in these forward-looking statements and information as
a result of numerous factors, including without limitation, Helix's need for
additional capital in the near term and in future, which may not be available
on acceptable terms or at all; and uncertainty whether Topical Interferon
Alpha-2b, L-DOS47, or any other product will be developed and marketed
successfully as a drug or at all. See a description of other risks and
uncertainties affecting Helix and its business, as contained in Helix's latest
Annual Information Form and other filings with the Canadian Securities
Regulatory Authorities at www.sedar.com, any of which could cause actual
results to vary materially from current results or Helix's anticipated future
results. Forward-looking statements and information are based on the beliefs,
opinions and expectations of Helix's management at the time they are made, and
Helix does not assume any obligation, except as required by law, to update any
forward-looking statement or information should those beliefs, opinions or
expectations, or other circumstances change.
For further information:
For further information: Investor Relations, Christina Bessant, The
Equicom Group Inc., Tel: (416) 815-0700 ext. 269, (800) 385-5451, Fax: (416)
815-0080, Email: firstname.lastname@example.org; Media Relations, Benjamin
Carmichael, Russo Partners LLC, Tel: (212) 845-4242, Fax: (212) 845-4260,
Email: Benjamin.email@example.com, www.russopartnersllc.com