Helix BioPharma Closes $3.67M Convertible Debenture Private Placement

Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCF, FRANKFURT: HBP0), a clinical-stage oncology company, announced today the closing of a non-brokered private placement of unsecured convertible debentures, raising aggregate gross proceeds of C$3,673,000. The company issued 3,673 Convertible Debentures, each with a principal amount of C$1,000.

The proceeds from the offering are expected to be used for general working capital purposes as well as advancement of the company’s drug development programs, according to the press release. The debentures carry a 25% annual simple interest rate and mature 14 months from the closing date. If not repaid by maturity, holders may convert the principal into common shares at a conversion price of C$1.42 per share, representing the market price less a 20% discount permitted by TSX policies. Accrued interest may also be converted at a price based on the higher of the conversion price or the volume-weighted average trading price over the five trading days preceding the conversion date, less the TSX-permitted discount.

The financing comes as Helix advances its pipeline, led by Tumor Defense Breaker L-DOS47, a clinical-stage 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 (NSCLC) and shares its CEACAM6-targeting foundation with the company’s next-generation bi-specific antibody-drug conjugates (ADCs) currently in discovery. Helix also has 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 intravenous administration.

The convertible debentures and any shares issuable upon conversion are subject to a statutory four-month hold period from the closing date. No finder’s fees were paid in connection with the offering. The company’s shares are listed on the TSX, OTC PINK, and Frankfurt Stock Exchange. For more information, visit the company’s website at https://www.helixbiopharma.com/.

Helix BioPharma is focused on bringing near-term solutions for hard-to-treat cancers. The company’s pipeline innovates from strength, aiming to make today’s difficult cancers vincible. The private placement provides additional capital to support these efforts, though the terms of the debentures reflect the high-risk nature of clinical-stage drug development.

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