Helix Biopharma Corp. Enters into Asset Purchase Agreement to Acquire Oral Immune Checkpoint Inhibitor and Expand Immune-Oncology Portfolio

About this update from Helix Biopharma Corp.

[{"type":"text","content":"Helix Biopharma Corp. Enters into Asset Purchase Agreement to Acquire Oral Immune Checkpoint Inhibitor and Expand Immune-Oncology Portfolio\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n November 29, 2024 – TheNewswire -\n \n\n Toronto, Ontario – Helix BioPharma Corp. (TSX: “HBP”,\nOTC PINK: “HBPCD”, FRANKFURT: “HBP0”) (\n \n\n “Helix”\n \n\n or the\n \n\n “Company”\n \n\n ), a clinical-stage biopharmaceutical company developing\nnovel and unique therapies in the field of immune-oncology, based on\nits proprietary technological CEACAM6 platform, DOS47, is pleased to\nannounce that it has entered into an asset purchase agreement dated\nNovember 28, 2024 (the “\n \n\n Agreement\n \n\n ”), with Laevoroc Immunology AG\n(“\n \n\n Laevoroc\nImmunology\n \n\n ”), a privately-held, Swiss\nimmune-oncology company.\n \n\n\n\n As a result of the Transaction, Helix will acquire the\nintellectual property, inventory, assigned agreements and rights to LR\n09, an oral immune checkpoint inhibitor in preclinical development for\npatients relapsing with leukemia after the intensive journey of\nallogeneic stem cell transplantation (SCT). LR 09 (Ulodesine\nhemiglutarate) is a novel, patented chemical entity discovered to be a\nmetabolic immune checkpoint inhibitor and granted Orphan Drug\nDesignation by the US Food and Drug Administration (FDA) in\n2022.\n \n\n\n\n i\n \n\n\n\n ,\n \n\n\n\n ii\n \n\n\n\n\n\n Pursuant to the Agreement, Helix shall acquire\nsubstantially all of the assets and certain liabilities of Laevoroc\nImmunology in consideration for the issuance of 16.5% of the\nCompany’s issued and outstanding shares on the closing date of the\ntransaction (the\n \n\n “Transaction”\n \n\n ). If the Transaction were to\nclose today, Helix would be required to issue 8,088,553 common shares\nbased on the Company’s 49,021,536 shares currently issued and\noutstanding.\n \n\n The Company anticipates that the\nTransaction will close on or around\n \n\n January\n30\n \n\n ,\n \n\n 2024 and all shares\nissuable in connection with the Transaction will be subject to a hold\nperiod\n \n\n of four months and one day from the date\nof issuance.\n \n\n The Transaction is subject to the\napproval of the Toronto...

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