Mr. Jacek Antas reports

HELIX BIOPHARMA CORP. PROVIDES BI-WEEKLY UPDATE ON LATE FILING OF INTERIM FINANCIAL STATEMENTS

Helix BioPharma Corp. has provided an update to its news release dated March 1, 2024, announcing the late filing of the company's interim financial statements and accompanying management's discussion and analysis for the six months ended Jan. 31, 2024 (the interim filings).

The company has applied to the Ontario Securities Commission as its principal regulator and other applicable securities regulators for a voluntary management cease trade order (the MCTO). As of the date hereof, no MCTO has been granted. If granted, the MCTO will stay in effect until the interim filings are filed. During the MCTO, the public will continue to be able to trade in the company's common shares. However, the company's chief executive officer and chief financial officer will not be permitted to trade in the common shares.

There are no material changes to the information contained in the default announcement. In addition: (i) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under National Policy 12-203 -- Management Cease Trade Order and issue biweekly default status reports for so long as the delay in filing the interim filings is continuing, each of which will be issued in the form of a press release; (ii) the company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the interim filings; (iii) the company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the company that has not been generally disclosed.

The company is diligently working on the interim filings and anticipates filing them by May 18, 2024, as noted in the default announcement.

About Helix BioPharma Corp.

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

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