Mr. Thomas Mehrling reports

HELIX BIOPHARMA CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT, IN PREPARATION FOR INSTITUTIONAL INVESTMENT AND NASDAQ UPLISTING

Helix BioPharma Corp. has closed its non-brokered private placement of 2,222,333 common shares of the company at a price of 75 cents per common share for gross proceeds of $1,666,750. The company will launch the next private placement once new price protection approval has been granted by the Toronto Stock Exchange.

Following the closure of a private placement of $3-million announced by the company in its press release dated Jan. 9, 2025, this private placement marks the second phase in Helix's bridge financing strategy, as the company advances toward securing a larger institutional investment. Helix intends to invest the net proceeds of the private placement toward near-term development activities and working capital, while building on the company's active and constructive discussions with institutional investors, which are expected to culminate in a larger financing round that will support Helix's long-term strategic plan and uplisting on Nasdaq. The offering is subject to final approval of the Toronto Stock Exchange, and the common shares are subject to a hold period of four months and one day expiring on Dec. 23, 2025, in accordance with applicable securities laws. In connection with the closing of the offering, the company will pay finders' fees to certain eligible finders.

About Helix BioPharma Corp.

Helix BioPharma is an oncology company that innovates from strength to bring near-term solutions for today's hardest-to-treat cancers. The company's pipeline is led by tumour defence breaker L-DOS47, a clinical-stage antibody-enzyme conjugate designed to prime CEACAM6-expressing tumours for increased sensitivity to therapy and augment the effectiveness of today's front-running anti-cancer treatments. L-DOS47 has completed phase 1b studies in non-small-cell lung cancer and shares its CEACAM6-targeting foundation with Helix's next-generation bispecific antibody-drug conjugates currently in discovery. The company also advances two preinvestigational new drug candidates: (i) Leumuna, an oral immune checkpoint modulator aimed at achieving durable remission in posttransplant leukemia relapse; and (ii) Gemceda, a first-in-class oral gemcitabine prodrug with bioavailability on a par with IV, designed to expand treatment options for advanced cancers.

Helix is listed on the Toronto Stock Exchange (HBP), the OTC Pink (HBPCD) and the Frankfurt Stock Exchange (HBP0).

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