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Helix BioPharma Corp. Announces Fiscal 2008 Results
Date:10/28/2008

to support the planned parallel,

confirmatory U.S. Phase IIb clinical trial for this indication.

-- Financing

-- Completed a private placement financing on December 19, 2007 for

gross proceeds of $16,867,200.

-- Completed a private placement financing on October 2, 2008 for gross

proceeds of $11,424,000.

-- Other

-- Appointed W. Thomas Hodgson to the Board of Directors.

-- Subsequent to the year-end, Lumera Corporation gave notice to its

termination of the biochip sub-license agreement, to be effective

December 19, 2008.

For fiscal 2008, the Company recorded a net loss of $6,964,000, which represents a decrease of $710,000 when compared to fiscal 2007. The net loss per common share for fiscal 2008 was $0.16 and represents a decrease of $0.06 in loss per common share when compared to fiscal 2007.

Product revenue along with license fees and royalties contributed to the increase in revenue in fiscal 2008 when compared to fiscal 2007 while research and development contract revenue were nil in fiscal 2008 and therefore lower than fiscal 2007.

Overall expenses in fiscal 2008 were lower than in fiscal 2007. Higher interest income and foreign exchange gains in fiscal 2008 offset higher research and development expenditures and operating, general and administrative expenditures and a one time write down of intangible assets in fiscal 2007.

FINANCIAL REVIEW

Total revenues in fiscal 2008 were $3,591,000 and represent an increase of $167,000 or 4.9% when compared to total revenues in fiscal 2007 of $3,424,000. Product revenue along with license fees and royalties contributed to the increase in revenue in fiscal 2008 when compared to fiscal 2007 while research and development contract revenue were nil in fiscal 2008 and therefore lower than fiscal 2007.

Product revenue in fiscal 2008 totaled $2,952,000 and repre
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SOURCE Helix BioPharma Corp.
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