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news.Helix BioPharma, a biopharmaceutical company engaged in the field of cancer therapy, has received subscriptions for the purchase, by way of private placement, of a total of 6.8 million units at C$1.68 per unit, for gross proceeds totaling C$11.42 million. The company anticipates closing the private placement within the next 10 days.
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Each unit consists of one common share and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase one common share at a price of C$2.36 for up to three years after the closing date of the private placement.
John Docherty, president of Helix BioPharma, said: “This is an exciting time for Helix as we open clinical trial sites in Germany for our trial of topical interferon alpha-2b for the treatment of ano-genital warts, prepare for additional clinical trials for this treatment and continue to progress towards clinical testing with L-DOS47. We plan to use the proceeds from the placement for working capital, primarily to support these R&D initiatives.”