Helix BioPharma Announces $11.4 Million Private Placement

    AURORA, Ontario, Sept. 30 /CNW/ -- Helix BioPharma Corp. (TSX, FSE:
"HBP") today announced that it has received subscriptions for the purchase, by
way of private placement, of a total of 6,800,000 units at $1.68 per unit, for
gross proceeds totaling CDN$11,424,000.  The Company anticipates closing the
private placement within the next ten days.

    Each unit consists of one common share and one-half of one common share
purchase warrant, with each whole common share purchase warrant entitling the
holder to purchase one common share at a price of $2.36 for up to three years
after the closing date of the private placement.

    "This is an exciting time for Helix as we open clinical trial sites in
Germany for our trial of Topical Interferon Alpha-2b for the treatment of
ano-genital warts, prepare for additional clinical trials for this treatment
and continue to progress towards clinical testing with L-DOS47," said John
Docherty, president of Helix BioPharma. "We plan to use the proceeds from the
placement for working capital, primarily to support these research and
development initiatives."

    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 and its novel L-DOS47 new drug candidate. Helix is listed
on the TSX under the symbol "HBP".


    For further information contact:

    Investor & Media Relations
    Ian Stone
    Russo Partners LLC
    Tel:   (619) 814-3510
    Fax:   (619) 955-5318
    Email: ian.stone@russopartnersllc.com

    David Schull
    Russo Partners LLC
    Tel:   (212) 845-4271
    Email: david.schull@russopartnersllc.com

    The Toronto and Frankfurt Stock Exchanges have not reviewed and do not
accept responsibility for the adequacy or accuracy of the content of this News
Release. This News Release contains forward-looking statements and information
regarding a proposed private placement and the Company's activities, which
statements and information can be identified by the words "anticipates,
"next", "prepare", "towards", "plan", "developing", and similar
future-oriented expressions.  Actual results or events could differ materially
from these forward-looking statements and information due to numerous factors,
including without limitation, the risk that the proposed placement may not
close as anticipated or at all; that proceeds of the placement may be used for
purposes other than those currently anticipated; research & development risks
and uncertainty whether the Company's drug candidates will undergo further
trials or clinical testing or will otherwise be developed at all; and Helix's
need for additional future capital.  These and other risks and uncertainties
are further discussed in Helix's latest Annual Information Form at
www.sedar.com. Forward-looking statements and information are based on the
assumptions 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 assumptions or
expectations, or other circumstances change.


For further information:

For further information: Investor & Media Relations, Ian Stone,
+1-619-814-3510, or fax, +1-619-955-5318, ian.stone@russopartnersllc.com, or
David Schull, +1-212-845-4271, david.schull@russopartnersllc.com, both of
Russo Partners LLC for Helix BioPharma Corp. Web Site:

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