Helix BioPharma Corp. Closes C$3.67M Convertible Debenture Private Placement

Helix BioPharma Corp. (TSX: HBP; OTC PINK: HBPCF; FRANKFURT: HBP0), a clinical-stage oncology company, announced the closing of a non-brokered private placement of unsecured convertible debentures, raising aggregate gross proceeds of C$3,673,000. The offering involved the issuance of 3,673 convertible debentures, each bearing interest at 25.00% per annum on a simple interest basis.

The principal amount and any unpaid accrued interest will be due 14 months from the closing date. If not repaid by the maturity date, holders may convert the outstanding principal into common shares at a price of C$1.42 per share, representing the market price less a 20% discount permitted by TSX policies. Accrued but unpaid interest may also be converted into shares at the greater of the conversion price and the volume-weighted average trading price over the five trading days preceding the conversion date, less the TSX permitted discount.

The proceeds are expected to be used for general working capital and to advance the company's drug development programs, including its lead candidate L-DOS47, an antibody-enzyme conjugate designed to prime CEACAM6-expressing tumors for increased sensitivity to therapy. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer and shares its targeting foundation with Helix's next-generation bispecific antibody-drug conjugates currently in discovery.

Helix also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug with bioavailability comparable to IV administration. No finder's fees were paid in connection with the offering, and the convertible debentures and any shares issuable are subject to a statutory four-month hold period.

The company's shares are listed on the TSX, OTC PINK, and Frankfurt Stock Exchange. For more information, visit https://www.helixbiopharma.com/.

Forward-looking statements in this release involve risks and uncertainties, including those discussed in the company's continuous disclosure record on SEDAR+ at www.sedarplus.ca.