Helix BioPharma Abandons GEM Financing Facility After Strategic Review

Helix BioPharma Corp. has elected not to proceed with a previously announced equity draw-down subscription facility with GEM Global Yield LLC SCS and GEM Yield Bahamas Limited. The company entered into a non-binding term sheet dated October 15, 2024 with GEM, and disclosed the proposed subscription facility in news releases dated February 24, 2025 and March 26, 2025 and in the company's Management and Information Circular dated January 31, 2025. The company received shareholder approval of the financing arrangement at its annual general and special meeting on March 26, 2025.

Following a thorough evaluation of market conditions and long-term corporate objectives, Helix determined that the GEM facility no longer aligns with its capital strategy or its commitment to maximizing long-term shareholder value. The letter of intent expired in accordance with its terms and the company has elected not to proceed to execution of the binding agreements or pursue the financing with GEM. This decision reflects the company's strategic reassessment of financing options in light of evolving market dynamics.

Independently of this decision, Helix continues to engage in constructive discussions with financial partners to explore alternative financing structures that may better align with the company's needs and strategic direction. The company remains steadfast in its commitment to securing the capital required to advance its clinical programs and achieve its corporate objectives. The company's clinical pipeline includes Tumor Defense Breaker™ L-DOS47, which has completed Phase Ib studies in non-small cell lung cancer, as detailed in the company's Management Information Circular.

The decision to abandon the GEM financing facility represents a significant shift in Helix's capital strategy, potentially affecting the company's ability to fund its oncology research and development programs. The company's commitment to exploring alternative financing structures indicates ongoing efforts to maintain financial stability while pursuing its clinical objectives in cancer treatment innovation.