August 9, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Helix BioPharma Corp. (TSX: FSE) (OTC: HXBPF) said that it has closed a private placement of 4.53 million units at $2.43 per unit. Each unit consists of one common share and one common share purchase warrant, with each common share purchase warrant entitling the holder to purchase, subject to adjustment, one common share of the company at a price of $3.402 for up to three years after the closing date of the private placement.

Helix said it expects to see net proceeds of around $9.5 million, which will be used for working capital, primarily to support the company's expanding clinical trial initiatives.

As a result of the placement, Zbigniew Lobacz has become an "insider" of Helix, as he now holds more than 10% of Helix's outstanding common shares.

Canada-based Helix BioPharma is a biopharmaceutical company focused on 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 and its novel L-DOS47 new drug candidate.

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