Helix Biopharma Closes $11.4 Million Private Placement

    AURORA, Ontario, Sept. 2 /CNW/ -- Helix BioPharma Corp. (TSX; FSE: HBP)
today announced that it has closed its private placement announced on
September 30, 2008 of 6,800,000 units at $1.68 per unit, for gross proceeds
totaling CDN$11,424,000.

    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, subject to adjustment, one common share at a price of
$2.36 until 5:00 pm Toronto time on October 1, 2011.  Proceeds of the
placement will be used for working capital, primarily to support Helix's
research & development initiatives.

    As a result of the placement, Dorota and Sylwester Cacek have become
"insiders" of Helix as they now hold more than 10% of Helix's outstanding
common shares.  A separate news release is being issued by them in connection
with this placement.

    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".

    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 its intended use of proceeds from the private placement the
Company's activities, which statements and information can be identified by
the words "will be", and "developing".  Actual results or events could differ
materially from these forward-looking statements and information due to
numerous factors, including without limitation, the risk 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 continue to be developed; 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 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



For further information:

For further information: Investor & Media Relations, Ian Stone,
+1-619-814-3510, 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.

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