Helix BioPharma Closes Private Placement


    AURORA, Ontario, Sept. 8 /CNW/ -- Helix BioPharma Corp. (TSX, FSE: "HBP";
OTCQX: "HXBPF") today announced that it has closed its previously announced
private placement of 6,625,000 units at $2.05 per unit.

    Each unit consists of one common share and one common share purchase
warrant, with each common share purchase warrant entitling the holder to
purchase, subject to adjustment, one common share of the Company at a price of
$2.87 for up to three years after the closing date of the private placement. 
Net proceeds after expenses are expected to be approximately $11.7 million and
will be used for working capital, primarily to support the Company's expanding
clinical trial initiatives.

    The securities offered will not be and have not been registered under the
United States Securities Act of 1933, as amended, or the securities laws of
any state of the United States, and may not be offered or sold in the United
States absent registration or an applicable exemption from registration

    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 novel
L-DOS47 new drug candidate and its Topical Interferon Alpha- 2b. Helix is
listed on the TSX and FSE under the symbol "HBP" and the OTCQX International
Market under the symbol "HXBPF".

    For further information contact:

    Investor & Media Relations
    Robert Flamm, Ph.D.
    Russo Partners LLC
    Tel:  (212) 845-4226
    Email: robert.flamm@russopartnersllc.com

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


    This News Release contains certain forward-looking statements and
information regarding Helix BioPharma Corp. ("Helix" or the "Company"), its
proposed use of proceeds of the private placement, its estimated net proceeds
of the placement, and its clinical trial and development initiatives, which
statements and information can be identified by the use of forward looking
terminology such as "will", "estimated", "expanding", and "developing". 
Helix's actual results could differ materially from these forward-looking
statements and information as a result of numerous risk factors, including
without limitation,  the risk that that the net proceeds of the placement may
be different than estimated and may be used for purposes other than those
currently intended; research & development risks, which may result in material
changes to, or the termination of, the Company's clinical trial and
development initiatives; and Helix's continuing need for additional future
capital to carry on its business, which may not be available.    The latter
two risks and uncertainties, and others affecting the Company, are more fully
described in the Company's latest MD&A, Form 20-F, and other reports filed
with the Canadian Securities Regulatory Authorities and the U.S. S.E.C. from
time to time at www.sedar.com, and www.sec.gov/edgar.shtml, respectively. 
Forward-looking statements and information are based on the beliefs,
assumptions, opinions and expectations of Helix's management at the time they
are made, and Helix does not assume any obligation to update any
forward-looking statement or information should those beliefs, assumptions,
opinions or expectations change, except as required by law.


For further information:

For further information: Robert Flamm, Ph.D., +1-212-845-4226,
robert.flamm@russopartnersllc.com, or Ian Stone, +1-619-814-3510, fax:
+1-619-955-5318, ian.stone@russopartnersllc.com, both of Russo Partners LLC

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