Mr. Thomas Mehrling reports

HELIX BIOPHARMA CORP. ANNOUNCES GRANT AND CANCELLATION OF STOCK OPTIONS

Helix BioPharma Corp.'s board of directors has granted 1,297,000 incentive stock options to directors, officers, employees and consultants of the company pursuant to its equity compensation plan.

Each stock option is exercisable to acquire one common share of the company at an exercise price of $1.63 per share for a period of five years from the date of grant. The options are subject to various vesting provisions in accordance with the terms of the company's equity compensation plan and the applicable option agreements.

The company also announces the cancellation of an aggregate of 2.2 million incentive stock options previously granted pursuant to the company's equity compensation plan on July 19, 2024. The cancelled options were held by a director of the company, had an exercise price of $1.10 per common share and were set to expire on July 19, 2029. The director did not receive any stock options pursuant to the current grant.

About Helix BioPharma Corp.

Helix BioPharma is an oncology company that innovates from strength to bring near-term solutions for today's hardest-to-treat cancers. The company's pipeline is led by Tumor Defense Breaker L-DOS47, a clinical-stage antibody-enzyme conjugate designed to prime CEACAM6-expressing tumours for increased sensitivity to therapy and augment the effectiveness of today's frontrunning anti-cancer treatments. L-DOS47 has completed phase Ib studies in non-small-cell lung cancer (NSCLC) and shares its CEACAM6-targeting foundation with Helix's next-generation bispecific antibody-drug conjugates (ADCs), currently in discovery. The company also advances two pre-IND (investigational new drug) candidates: (i) Leumuna, an oral immune checkpoint modulator aimed at achieving durable remission in posttransplant leukemia relapse; and (ii) Gemceda, a first-in-class oral gemcitabine pro-drug with bioavailability on a par with IV, designed to expand treatment options for advanced cancers.

Helix is listed on the Toronto Stock Exchange (HBP), OTC Pink (HBPCD) and FWB (HBP0).

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