Business
Helix closes $5.5 million private placement
Helix closes $5.5 million private placement.
About this update from Helix Biopharma Corp.
[{"type":"text","content":"\n\n\n\n\nAURORA, ON, Nov. 7 /CNW/ - Helix BioPharma Corp. today announced that it\nhas completed a private placement in Europe for gross proceeds of\nCAN $5,523,750. Helix issued 3,156,428 common shares and 3,156,428 common\nshare purchase warrants in the European placement. Each common share purchase\nwarrant entitles the holder to purchase one common share at a price of $2.45\nuntil March 31st, 2008. Helix intends to use the net proceeds of the placement\nof $5.1 million (after finders' fees) to fund the pre-clinical and clinical\ndevelopment of products in its pipeline and for working capital and general\ncorporate purposes. This placement brings the total amount raised by way of\nprivate placement in the last 2 months to $9.5 million ($8.8 million net of\nfinders' fees).\n\nAbout Helix BioPharma Corp.\n\nHelix BioPharma Corp. is a biopharmaceutical company specializing in the\nfield of cancer therapy. The Company is actively developing innovative\nproducts for the prevention and treatment of cancer based on its proprietary\ntechnologies. Helix's product development initiatives include its Topical\nInterferon Alpha-2b, for the treatment of conditions caused by the human\npapilloma virus, and its novel L-DOS47 new drug candidate. Helix is listed on\nthe TSX under the symbol \"HBP\".\n\nThe Toronto and Frankfurt Stock Exchanges have not reviewed and do not\naccept responsibility for the adequacy or accuracy of the content of this News\nRelease. This News Release contains certain forward-looking statements\nregarding the use of proceeds from the private placement. Forward-looking\nstatements can be identified by the use of forward-looking terminology such as\n\"intends\", or variations thereon or comparable terminology referring to future\nevents or results. Forward looking statements are statements about the future\nand are inherently uncertain, and Helix's actual results could differ\nmaterially from those anticipated in these forward-looking statements as a\nresult of numerous factors, including without limitation, research &\ndevelopment risks, the risk of technical obsolescence, the need for regulatory\napproval, which may not be obtained in a timely matter or at all, the need for\nclinical trials, the occurrence and success of which cannot be assured,\nintellectual property risks, marketing/manufacturing and partnersh...