Helix BioPharma Corp. (TSX: HBP, OTC PINK: HBPCF, FRANKFURT: HBP0), a clinical-stage oncology company developing therapies for hard-to-treat cancers, announced the closing of a non-brokered private placement of unsecured convertible debentures, raising aggregate gross proceeds of C$3,673,000. The offering, which closed on June 3, 2026, involved the issuance of 3,673 Convertible Debentures, each with a principal amount of C$1,000.
The Convertible Debentures carry a 25% annual simple interest rate and mature 14 months from the closing date. If not repaid by maturity, holders may convert the principal into common shares at C$1.42 per share, representing the market price on the price reservation date less a 20% discount permitted by TSX policies. Accrued but unpaid interest may also be converted at the higher of the Conversion Price or the volume-weighted average trading price over the five trading days preceding conversion, less the TSX-permitted discount.
The proceeds are expected to be used for general working capital and to advance the company’s drug development programs, including its lead candidate L-DOS47, a Tumor Defense Breaker antibody-enzyme conjugate targeting CEACAM6-expressing tumors. L-DOS47 has completed Phase Ib studies in non-small cell lung cancer (NSCLC) and shares its targeting platform with Helix’s next-generation bi-specific antibody-drug conjugates (ADCs) currently in discovery. The company also advances two pre-IND candidates: LEUMUNA, an oral immune checkpoint modulator for post-transplant leukemia relapse, and GEMCEDA, an oral gemcitabine prodrug designed to match intravenous bioavailability for advanced cancers.
The financing structure reflects the company’s need for capital to sustain its pipeline while offering investors a high-yield instrument with potential equity upside. The 25% interest rate is notably high, indicating the risk profile typical of clinical-stage biotech firms. The conversion feature, allowing holders to convert at a discount to market price, could dilute existing shareholders if the debentures are not repaid.
No finder’s fees were paid, and the Convertible Debentures and any shares issuable are subject to a four-month statutory hold period. This private placement provides Helix with near-term liquidity to continue its research and development activities, which could be critical as the company aims to bring new therapies to market for cancers with limited treatment options.
Helix BioPharma’s mission is to make today’s hard-to-treat cancers vincible, and this financing supports that goal by funding ongoing clinical programs and early-stage research. Investors and stakeholders will be watching for updates on L-DOS47’s progress and the advancement of LEUMUNA and GEMCEDA toward clinical trials. For more information, visit the company’s website at https://www.helixbiopharma.com/.
