AURORA, ON, Oct. 15 /PRNewswire-FirstCall/ - Helix BioPharma Corp. (TSX: HBP / Frankfurt: WKN 918864) announced today that Jerome F. McElroy has resigned as Chairman and a director of the Company to pursue his retirement interests.
"Jerry has had a long involvement with the Company since its amalgamation in 1995," said Don Segal, President and Chief Executive Officer. "On behalf of the Company, I thank him for his positive contributions and wish him well with his future endeavors."
The Company has entered into an agreement with Mr. McElroy in respect of his resignation, pursuant to which Mr. McElroy will receive the equivalent of approximately one year's salary and benefits in a lump sum payment made today of $350,000, plus termination payments for one year of $3,000 per month and contributions to his medical benefits of $12,000 per year for four years.
The Company will designate a new Chairman to succeed Mr. McElroy in the near term.
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 product candidate for the treatment of lung adenocarcinoma. Helix is listed on the Toronto Stock Exchange under the ticker symbol "HBP".
This News Release contains certain forward-looking statements and
information regarding Helix's product development initiatives, Topical
Interferon Alpha-2b and L-DOS47. Forward-looking statements and information
can be identified by the use of forward-looking terminology such as
"developing" and "initiatives". Helix's actual results could differ
materially from those anticipated in these forward-looking statements and
|SOURCE Helix BioPharma Corp.|
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