Helix BioPharma Raises C$3.67M in Convertible Debenture Offering to Fund Drug Development

Helix BioPharma Corp. (TSX: HBP; OTC PINK: HBPCF; FRANKFURT: HBP0) announced today the closing of a non-brokered private placement of unsecured convertible debentures, raising aggregate gross proceeds of C$3,673,000. The offering, which involved the issuance of 3,673 convertible debentures, is expected to provide the clinical-stage oncology company with additional capital to support its drug development programs and general working capital needs.

The convertible debentures carry a 25% simple interest rate per annum and mature 14 months from the closing date. If not repaid by maturity, holders may convert the outstanding principal into common shares at a price of C$1.42 per share, representing a 20% discount to the market price at the time of pricing, as permitted under TSX policies. Accrued but unpaid interest may also be converted into shares at a price equal to the greater of the conversion price or the volume-weighted average trading price over the five trading days preceding conversion, less the permitted discount.

This financing comes at a critical juncture for Helix, which is advancing a pipeline of novel cancer therapies. The company’s lead candidate, L-DOS47, is a Tumor Defense Breaker designed to target CEACAM6-expressing tumors and enhance the effectiveness of existing anti-cancer treatments. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer (NSCLC) and serves as the foundation for Helix’s next-generation bispecific antibody-drug conjugates currently in discovery.

Beyond L-DOS47, Helix is developing two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator aimed at achieving durable remission in post-transplant leukemia relapse, and GEMCEDA, a first-in-class oral gemcitabine prodrug with bioavailability comparable to intravenous administration, potentially expanding treatment options for advanced cancers. The proceeds from this offering are expected to advance these programs toward key milestones.

The convertible debentures and any shares issued upon conversion are subject to a statutory four-month hold period. No finder’s fees were paid in connection with the offering. For more information, visit the company’s website at https://www.helixbiopharma.com/.

The company’s shares trade on the TSX, OTC PINK, and Frankfurt Stock Exchange. This financing underscores Helix’s strategy to secure non-dilutive capital while minimizing immediate shareholder dilution, though the high interest rate and conversion features reflect the risk profile typical of clinical-stage biotech firms.