Mr. Jacek Antas reports

HELIX BIOPHARMA CORP. ENTERS INTO ASSET PURCHASE AGREEMENT TO ACQUIRE ORAL IMMUNE CHECKPOINT INHIBITOR AND EXPAND IMMUNE-ONCOLOGY PORTFOLIO

Helix BioPharma Corp. has entered into an asset purchase agreement dated Nov. 28, 2024, with Laevoroc Immunology AG, a privately held, Swiss immune-oncology company.

As a result of the transaction, Helix will acquire the intellectual property, inventory, assigned agreements and rights to LR 09, an oral immune checkpoint inhibitor in preclinical development for patients relapsing with leukemia after the intensive journey of allogeneic stem cell transplantation (SCT). LR 09 (ulodesine hemiglutarate) is a novel, patented chemical entity discovered to be a metabolic immune checkpoint inhibitor and granted orphan drug designation by the United States Food and Drug Administration (FDA) in 2022.

Pursuant to the agreement, Helix shall acquire substantially all of the assets and certain liabilities of Laevoroc Immunology in consideration for the issuance of 16.5 per cent of the company's issued and outstanding shares on the closing date of the transaction. If the transaction were to close today, Helix would be required to issue 8,088,553 common shares based on the company's 49,021,536 shares currently issued and outstanding. The company anticipates that the transaction will close on or around Jan. 30, 2024, and all shares issuable in connection with the transaction will be subject to a hold period of four months and one day from the date of issuance. The transaction is subject to the approval of the Toronto Stock Exchange and certain closing conditions of transactions of a similar nature.

The agreement follows the signing of a non-binding letter of intent announced in a press release published by Helix and dated Nov. 13, 2024.

Jacek Antas, chief executive officer of Helix Biopharma, said: "We are pleased to reach this agreement with Laevoroc Immunology, which marks an important step in our asset acquisition process and, ultimately, the growth of our immune-oncology pipeline with a therapeutic candidate targeting critical unmet needs in leukaemia treatment. We are confident that this strategic addition will contribute long-term value and growth for our shareholders."

About Helix BioPharma Corp.

Helix BioPharma is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on the company's proprietary technological platform DOS47.

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