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Helix BioPharma Corp. Announces Fiscal Q1 2010 Results
Date:12/9/2009

European Phase III clinical trials for Topical Interferon Alpha-2b (cervical dysplasia). As previously stated, these trials will require substantial funding beyond the Company's current resources.

The Company will continue to seek additional funding, primarily by way of equity offerings, to carry out its business plan and to minimize risks to its operations. The market, however, for equity financings for companies such as Helix is challenging, and the global economic downturn and credit crisis have added further challenges. There can be no assurance that additional funding by way of equity financing will be available. The failure of the Company to obtain additional funding on a timely basis may result in the Company reducing, delaying or cancelling one or more of its planned research, development and marketing programs and reducing related personnel, any of which could impair the current and future value of the business. Any additional equity financing, if secured, may result in significant dilution to the existing shareholders at the time of such financing. The Company may also seek additional funding from other sources, including technology licensing, co-development collaborations, and other strategic alliances, which, if obtained, may reduce the Company's interest in its projects or products. There can be no assurance, however, that any alternative sources of funding will be available.

The Company's unaudited interim consolidated first quarter fiscal 2010 and 2009 financial statements are summarized below:




Consolidated Statements of Operations
for the three month period ended October 31
(thousand $, except for per share data)
---------------------------------------


                                       2009     2008
                                       ----     ----
Revenue:
  Product revenue                       903      921
  License fees & royalties              117      198
                      
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SOURCE Helix BioPharma Corp.
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