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 information as a result of numerous factors, including without limitation, Helix's need for additional capital in the near term and in future, which may not be available on acceptable terms or at all; and uncertainty whether Topical Interferon Alpha-2b, L-DOS47, or any other product will be developed and marketed successfully as a drug or at all. See a description of other risks and uncertainties affecting Helix and its business, as contained in Helix's latest Annual Information Form and other filings with the Canadian Securities Regulatory Authorities at http://www.sedar.com, any of which could cause actual results to vary materially from current results or Helix's anticipated future results. Forward-looking statements and information 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, except as required by law, to update any forward-looking statement or information should those beliefs, opinions or expectations, or other circumstances change.
|SOURCE Helix BioPharma Corp.|
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