Helix closes $4 million private placement

AURORA, ON, Oct. 4 /CNW/ - Helix BioPharma today announced that it has
completed a private placement in Europe for gross proceeds of CAN $4 million.
Helix issued 2,339,181 common shares and 2,339,181 common share purchase
warrants in the European placement. Each common share purchase warrant
entitles the holder to purchase one common share at a price of $2.39 until
March 31st, 2008. Helix intends to use the net proceeds of the placement of
$3.7 million (after finder's fees) to fund the pre-clinical and clinical
development of products in its pipeline and for working capital and general
corporate purposes.

About Helix BioPharma
Helix BioPharma Corp. is a biopharmaceutical company specializing in the
field of cancer therapy. The Company is actively developing innovative
products for the prevention and treatment of cancer based on its proprietary
technologies. Helix's product development initiatives include its Topical
Interferon Alpha-2b, for the treatment of conditions caused by the human
papilloma virus, and its novel L-DOS47 new drug candidate. Helix is listed on
the TSX under the symbol "HBP".

The Toronto and Frankfurt Stock Exchanges have not reviewed and do not
accept responsibility for the adequacy or accuracy of the content of this News
Release. This News Release contains certain forward-looking statements
regarding the use of proceeds from the private placement. Forward-looking
statements can be identified by the use of forward-looking terminology such as
"intends", or variations thereon or comparable terminology referring to future
events or results. Forward looking statements are statements about the future
and are inherently uncertain, and Helix's actual results could differ
materially from those anticipated in these forward-looking statements as a
result of numerous factors, including without limitation, research &
development risks, the risk of technical obsolescence, the need for regulatory
approval, which may not be obtained in a timely matter or at all, the need for
clinical trials, the occurrence and success of which cannot be assured,
intellectual property risks, marketing/manufacturing and partnership/strategic
alliance risks, the effect of competition, uncertainty of the size and
existence of a market opportunity for Helix's products, Helix's need for
additional future capital, which may not be available in a timely manner or at
all, as well as a description of other risks and uncertainties affecting Helix
and its business, as contained in news releases and filings with the Canadian
Securities Regulatory Authorities, any of which could cause actual results to
vary materially from current results or Helix's anticipated future results.
Forward-looking statements are based on the beliefs, opinions and expectations
of Helix's management at the time they are made, and Helix does not assume any
obligation to update any forward-looking statement should those beliefs,
opinions or expectations, or other circumstances change.