Helix Biopharma Corp. Enters Into Non-Binding Letter Of Intent To Acquire Laevoroc Group's Oncology Assets

(MENAFN- EIN Presswire) The Companies Aim to Close Definitive Agreements Before Year-End

Helix Biopharma Corp. (TSX:HBP)

TORONTO, ONTARIO, CANADA, November 13, 2024 /EINPresswire / -- Helix BioPharma Corp. (TSX:“HBP”, OTC PINK:“HBPCD”, FRANKFURT:“HBP0”) (“Helix” or the“Company), a clinical-stage biopharmaceutical company developing novel and unique therapies in the field of immuno-oncology, based on its proprietary technological CEACAM6 platform, DOS47, is pleased to announce that the Company has entered into a non-binding letter of intent (LOI) to acquire a 100% interest in the oncology assets of Laevoroc Chemotherapy AG and Laevoroc Immunology AG, both privately-held, Swiss oncology companies.

Laevoroc Chemotherapy's asset is a novel, oral formulation of gemcitabine designed to be used as combination or maintenance therapy for high-prevalence, hard-to-treat cancers, including lung, pancreatic, ovarian and breast cancers. A WHO Essential Medicine, gemcitabine is currently available only in intravenous form. Formulated as an oral capsule, Laevoroc Chemotherapy's GEMCEDA is expected to simplify care for patients with repeat, low-dose chemotherapy, offering improved convenience and fewer side effects.

Laevoroc Immunology's asset is a novel, highly potent and selective inhibitor of purine nucleoside phosphorylase (PNP) in preclinical development for the treatment of leukaemia relapse following allogeneic stem cell transplantation (SCT). The PNP inhibitor, LR 09, was recently discovered to be a metabolic immune checkpoint inhibitor , offering the potential to initiate graft-versus-leukaemia effect and become the game-changing standard-of-care for this disease . LR 09 was granted Orphan Drug Designation by the US Food and Drug Administration (FDA) in late 2022.

The non-binding LOI between the companies provides for a short exclusivity period during which the companies shall discuss Helix' potential acquisition of the assets of Laevoroc Chemotherapy and Laevoroc Immunology. All three companies aim to close definitive agreements before year-end, upon completion of the requisite due diligence.

Thomas Mehrling, MD, PhD, CEO and Chairman of Laevoroc Chemotherapy and Immunology, said:“We are delighted that our novel assets will likely find a new home where their development will be expedited, and they can reach patients as soon as possible.”

Jacek Antas, CEO of Helix Biopharma, said:“Helix is thrilled about the prospect of acquiring the Laevoroc assets, which we think will contribute great synergies to our pipeline. We have the resources and will build a world-class team to drive the development forward and to create substantial value for our shareholders.”

About Helix BioPharma Corp.
Helix BioPharma Corp. is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on our proprietary technological platform DOS47. Helix is listed on the TSX under the symbol“HBP”, on OTC PINK under the symbol“HBPCD” and on FWB under the symbol“HBP0”.

For more information, please contact:
Helix BioPharma Corp.
Bay Adelaide Centre - North Tower
40 Temperance Street, Suite 2700

Jacek Antas, Chairman and CEO
Helix BioPharma Corp.
+1 604-428-7050
email us here

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