HELIX CLOSES $4 MILLION PRIVATE PLACEMENT

Helix BioPharma today announced that it has completed a private placement in Europe for gross proceeds of CAN $4 million. Helix issued 2,339,181 common shares and 2,339,181 common share purchase warrants in the European placement. Each common share purchase warrant entitles the holder to purchase one common share at a price of $2.39 until March 31st, 2008. Helix intends to use the net proceeds of the placement of $3.7 million (after finder's fees) to fund the pre-clinical and clinical development of products in its pipeline and for working capital and general corporate purposes.
Canada NewsWire