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Helix Biopharma Corp. Provides Polish Subsidiary Divestiture Update
RICHMOND HILL, ON / ACCESSWIRE / September 30, 2020 / Helix BioPharma Corp. (TSX:HBP) ("Heli...
About this update from Helix Biopharma Corp.
[{"type":"text","content":"Helix Biopharma Corp. Provides Polish Subsidiary Divestiture UpdateRICHMOND HILL, ON / ACCESSWIRE / September 30, 2020 / Helix BioPharma Corp. (TSX:HBP) (\"Helix\" or the \"Company\"), a clinical-stage biopharmaceutical company developing unique therapies in the field of immuno-oncology based on its proprietary technological platform DOS47, today announced an update on the progress regarding the non-binding term sheet the Company received and previous announced on June 26, 2020 to divest the remaining shares it holds in its Polish subsidiary, Helix Immuno-Oncology S.A.As announced on June 26, 2020, the Company accepted a non-binding offer from CAIAC Fund Management AG, in its capacity as the designated trustee of an Alternative Investment Fund (the \"Fund\") to purchase Helix's remaining holdings in HIO for gross proceeds of up to PLN6,700,000 (~CAD2,300,000). The Company further announced on August 31, 2020, the closing date was extended to September 30, 2020. Closing of the transaction is subject to a number of conditions, including the approval of the Fund by Financial Market Authority in Liechtenstein (\"FMA\"); the raising of a minimum PLN7,300,000 by the Fund as well as regulatory approval of the transaction, if required.Due to COVID19-related delays, the approval of the fund by FMA has only recently been granted. As a result of this delay, the Company has agreed to now close the transaction no later than October 30, 2020.About Helix BioPharma Corp.Helix BioPharma Corp. is an immuno-oncology company specializing in the field of cancer therapy. Helix is a biopharmaceutical company developing unique therapies in the field of immuno-oncology, for the prevention and treatment of cancer, based on its proprietary technology platform DOS47. Helix is currently listed on the TSX under the symbol \"HBP\". For more information: https://www.helixbiopharma.comForward-Looking Statements and Risks and UncertaintiesThis news release may contain forward-looking statements with respect to Helix, its operations, strategy, financial performance and condition, including its activities relating to its drug development program, any anticipated timelines for the commencement or completion of certain activities such as the closing of the transactions described herein, raising sufficient capital, merger and acquisition activity, listing on a U.S. e...