AURORA, ON, Nov. 7 /CNW/ - Helix BioPharma Corp. today announced that it has completed a private placement in Europe for gross proceeds of CAN $5,523,750. Helix issued 3,156,428 common shares and 3,156,428 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 $2.45 until March 31st, 2008. Helix intends to use the net proceeds of the placement of $5.1 million (after finders' fees) to fund the pre-clinical and clinical development of products in its pipeline and for working capital and general corporate purposes. This placement brings the total amount raised by way of private placement in the last 2 months to $9.5 million ($8.8 million net of finders' fees). About Helix BioPharma Corp. 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.