Business
Helix BioPharma Corp. responds to Penta's January 13, 2007 press release
Helix BioPharma Corp. responds to Penta's January 13, 2007 press release.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\nAURORA, ON, Jan. 15 /CNW/ - Helix BioPharma Corp. ( TSX: HBP / Frankfurt:\nWKN 918864 )\n\n\nThe press release most recently issued by International Penta is yet\nanother reiteration of Mr. Janssen's previous complaints, but he fails to\nstate certain important information.\n\n\nMr. Janssen knows that as a biopharmaceutical company's product\ncandidates graduate to the advanced and pivotal clinical development levels,\nas Helix is actively pursuing, capital requirements increase significantly.\n\n\nBiopharmaceutical companies must go through many rounds of financing as\nthey grow. It is imperative that Helix is always prepared to take on\nfinancing. Helix has obtained TSX pre-clearance for the proposed resolution to\ndo so before April 12th, 2007. Obtaining shareholder approval in advance is a\nprecondition to being so prepared. Helix's legal and financial advisors\nrecommend this strategy. Leading international investment banks have also\nrecommended this strategy to Helix. Management believes this advice is based\nupon sound business judgment. To proceed otherwise would be irresponsible. Mr.\nJanssen knows this.\n\n\nMoreover, Institutional Shareholder Services (ISS), the world's leading\nprovider of proxy voting and corporate governance solutions to the\ninternational marketplace, has observed that the private placement resolution\nis proposed in the ordinary course of business.\n\n\nMr. Janssen was made fully aware of Helix's expanding capital\nrequirements for 2007, and was given the opportunity to raise the stated\ncapital. Helix did not accept his financing proposals due to their high costs,\nonerous conditions, excessive complexity and, in some cases, questionable\nlegality. Based on this, Mr. Janssen's finder's fee agreement with Helix was\nallowed to expire on December 1st, 2006.\n\n\nHelix believes, therefore, that Mr. Janssen's primary motivation stems\nfrom the Company's termination of his business relationship with Helix, and\nnot because he has the best interest of other shareholders in mind.\n\n\n-------------------------------------------------------------------------\n\n VOTE YOUR YELLOW HELIX PROXY NOW\n\n DO NOT VOTE A BLUE PROXY\n\n IF YOU HAVE ALREADY VOTED A BLUE PROXY, YOU CAN REVOKE IT BY SENDING IN\n A YELLOW HELIX PROXY NOW\n\n--------------------------------------------------------------------...