Helix BioPharma Corp. Announces Changes to the Company's Board of Directors and Management

Rhea-AI Summary

Helix BioPharma Corp. announced the resignation of Heman Chao as CEO and CSO, effective September 1, 2021. Chao, who joined in 2008, will transition to Chair of the Scientific Advisory Board. The Board appreciates his dedication to advancing immunotherapy research and will seek candidates for the new CEO. The company remains focused on its clinical programs, particularly the primary drug candidate L-DOS47, which is expected to drive future growth. The Board expresses confidence in the current management team.

Positive

• Heman Chao will remain with the company as Chair of the Scientific Advisory Board, providing continuity.
• The company continues to prioritize clinical programs, notably L-DOS47, a key drug candidate.

Negative

• The resignation of a long-serving CEO may lead to temporary leadership instability.
• The company is in the process of identifying a new CEO, which could create uncertainty in the short term.

RICHMOND HILL, ON / ACCESSWIRE / June 30, 2021 / Helix BioPharma Corp. (TSX:HBP) ('Helix' or the 'Company'), an immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, today announced that Heman Chao has notified the Board of Directors of the Company of his intention to step down from the position of Chief Executive Officer ("CEO"), Chief Scientific Officer ("CSO") and member of the Board, effective September 1, 2021. As of September 1, 2021, Mr. Chao will assume the position of Chair of the Company's Scientific Advisory Board.

"It has been a privilege to be able to work with Helix. I am particularly honoured to have assisted the development of the DOS47 technology from lab-bench to the clinic" stated Mr. Chao. "I will continue to support the Company in any way I can, including in my continuing role as the Chair of the Company's Scientific Advisory Board. I have the utmost confidence in the abilities of the existing management team and Board going forward and remain as enthusiastic as ever about the future prospects of the Company."

The Board has identified candidates for a new CEO and director.

Prof. Majewski said: "As Chair of the Board, I want to thank Heman for his outstanding commitment and dedication to the Company since joining the Company as its CSO in 2008 and in his role as CEO since 2017. Heman has worked tirelessly to advance the Company's immunotherapy research and drive the Company forward. We are delighted that he will continue to be the Chair of the Scientific Advisory Board. We continue to be excited about the future of the Company and the prospects of its work developing important immunotherapy treatments, including the Company's primary drug candidate, L-DOS47. The Company's clinical programs remain our highest priority."

About Helix BioPharma Corp.

Helix BioPharma Corp. is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on our proprietary technological platform DOS47. Helix is listed on the Toronto Stock Exchange under the symbol "HBP".

For more information, please contact:
Helix BioPharma Corp.
9120 Leslie Street, Suite 205
Richmond Hill, Ontario, L4B 3J9
Tel: 905-841-2300 x 233
Frank Michalargias, Chief Financial Officer

ir@helixbiopharma.com

Investor Relations
Alpha Bronze, LLC
Mr. Pascal Nigen
Phone: + 1 (917) 385-2160
helix@alphabronze.net

Forward-Looking Statements and Risks and Uncertainties

This news release contains forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to the Company's future business, operations, research and development, including the Company's activities relating to DOS47, and other information in future periods. Forward-looking statements can further be identified by the use of forward-looking terminology such as "ongoing", "estimates", "expects", or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions "will", "may", "could", or "should" occur or be achieved, or comparable terminology referring to future events or results.

Forward-looking statements are statements about the future and are inherently uncertain, and are necessarily based upon a number of estimates and assumptions that are also uncertain. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Forward-looking statements, including financial outlooks, are intended to provide information about management's current plans and expectations regarding future operations, including without limitation, future financing requirements, and may not be appropriate for other purposes. Certain material factors, estimates or assumptions have been applied in making forward-looking statements in this news release, including, but not limited to, the safety and efficacy of L-DOS47; that sufficient financing will be obtained in a timely manner to allow the Company to continue operations and implement its clinical trials in the manner and on the timelines anticipated; the timely provision of services and supplies or other performance of contracts by third parties; future costs; the absence of any material changes in business strategy or plans; and the timely receipt of required regulatory approvals and strategic partner support.

The Company's actual results could differ materially from those anticipated in the forward-looking statements contained in this news release as a result of numerous known and unknown risks and uncertainties, including without limitation, the risk that the Company's assumptions may prove to be incorrect; the risk that additional financing may not be obtainable in a timely manner, or at all, and that clinical trials may not commence or complete within anticipated timelines or the anticipated budget or may fail; third party suppliers of necessary services or of drug product and other materials may fail to perform or be unwilling or unable to supply the Company, which could cause delay or cancellation of the Company's research and development activities; necessary regulatory approvals may not be granted or may be withdrawn; the Company may not be able to secure necessary strategic partner support; general economic conditions, intellectual property and insurance risks; changes in business strategy or plans; and other risks and uncertainties referred to elsewhere in this news release, any of which could cause actual results to vary materially from current results or the Company's anticipated future results. Certain of these risks and uncertainties, and others affecting the Company, are more fully described in the Company's annual management's discussion and analysis for the year ended July 31, 2020 under the heading "Risks and Uncertainties" and Helix's Annual Information Form, in particular under the headings "Forward-looking Statements" and "Risk Factors", and other reports filed under the Company's profile on SEDAR at www.sedar.com from time to time. Forward-looking statements and information are based on the beliefs, assumptions, opinions and expectations of Helix's management on the date of this new release, and the Company does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions, opinions or expectations, or other circumstances change, except as required by law.

SOURCE: Helix BioPharma Corp.

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FAQ

What are the implications of Heman Chao's resignation for Helix BioPharma Corp. (HBPCF)?

Heman Chao's resignation could lead to temporary leadership instability, but his continued role as Chair of the Scientific Advisory Board may provide continuity.

Who will replace Heman Chao as CEO of Helix BioPharma Corp. (HBPCF)?

The Board has not yet announced a replacement for Heman Chao as the new CEO and is currently identifying candidates.

What is the future focus of Helix BioPharma Corp. (HBPCF) following the management change?

Helix BioPharma Corp. will continue to prioritize its clinical programs, especially the development of the primary drug candidate, L-DOS47.

When will Heman Chao officially step down from his role at Helix BioPharma Corp. (HBPCF)?

Heman Chao will officially step down from his role as CEO and CSO effective September 1, 2021.