Helix Biopharma Announces the Receipt of Subscription Agreements Totalling CAD4.7 Million for Private Placement Financing

AURORA, ON--(Marketwired) - Helix BioPharma Corp. (TSX: HBP) (FRANKFURT: HBP) ("Helix" or the "Company"), a biopharmaceutical company developing innovative drug candidates for the prevention and treatment of cancer, today announced it has received private placement subscription agreements for units for aggregate gross proceeds of approximately CAD4.7 million.

The terms of the placement are for the purchase of units at $1.50 per unit. Each unit is comprised of one common share and one common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one common share at a price equal to the closing price on the Toronto Stock Exchange of the common shares of the Company on the day of acceptance of the Subscription Agreements for a period of five years from the date of issuance. Helix intends to use the net proceeds of the private placement for working capital, including funding its ongoing research and development activities.

We believe L-DOS47 is the first anticancer drug which normalizes tumor pH thereby making the tumor more receptive to chemo- and/or immune-therapies," said Dr. Sven Rohmann, newly appointed CEO of Helix BioPharma Corp. "The additional funds are very much appreciated and will permit us to move forward what we feel to be some promising new immuno-oncology projects in addition to our ongoing clinical development programs."

ACM Alpha Management Consulting Est. provided financial advisory services to Helix in connection with this proposed private placement, the completion of which is subject to the approval of the Toronto Stock Exchange.

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. Helix is currently listed on the TSX and FSE under the symbol "HBP".

Forward-Looking Statements and Risks and Uncertainties

This news release may contain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, including, without limitation, those relating to Helix's operations and strategy, its research and development activities, statements regarding the acceptance of the private placement by the Toronto Stock Exchange, the closing of the private placement and the expected use of net proceeds of the private placement. Forward-looking statements, which may be identified by words including, "without limitation", "believe, "subject to", "will", "should" "may", "expects", "intends", "anticipates" and other similar expressions, are intended to provide information about management's current plans and expectations regarding the completion of the private placement.

Although Helix believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties that may cause actual results or events to differ materially from those anticipated and no assurance can be given that these expectations will be realized, and undue reliance should not be placed on such statements. Risk factors that could cause actual results or events to differ materially from the forward-looking statements include, without limitation, risks related to the failure to obtain the approval of the Toronto Stock Exchange to the private placement, risks that the private placement will be completed, risks inherent in Helix's research and development activities and those risks and uncertainties affecting the company, as more fully described in Helix's most recent Annual Information Form, including under the headings "Forward-Looking Statements" and "Risk Factors", filed under Helix's profile on SEDAR at www.sedar.com (together, the "Helix Risk Factors"). Certain material factors or assumptions are applied in making the forward-looking statements, including, without limitation, that the Toronto Stock Exchange will accept the private placement on the terms and conditions of the subscription agreements received by Helix, that the private placement contemplated herein will be completed, and that the factors described in the Helix Risk Factors will not cause Helix's actual results or events to differ materially from the forward-looking statements. These cautionary statements qualify all such forward-looking statements.

Forward-looking statements and information are based on the beliefs, assumptions and expectations of Helix's management on the date of this news release, and Helix does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions or expectations, or other circumstances change, except as required by law.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, any U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless pursuant to an exemption from those registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy any such securities of Helix BioPharma Corp. in the United States or any other jurisdiction.

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