Helix BioPharma and Merck Terminate Material Transfer and

Helix BioPharma and Merck Terminate Material Transfer and License
Option Agreement for Topical Interferon Alpha-2b Development Program 
AURORA, ON -- (Marketwire) -- 12/14/12 --  Helix BioPharma Corp.
(TSX: HBP) (FRANKFURT: HBP), a biopharmaceutical company developing
drug candidates for the prevention and treatment of cancer, today
announced that Helix and Merck, known as MSD outside the United
States and Canada, have agreed to terminate their collaboration under
the Material Transfer and License Option Agreement, originally
entered into between Helix and a Merck subsidiary in December 2000,
for the development of pharmaceutical products containing Topical
Interferon Alpha-2b ("TIFN alpha-2b"). 
The termination of the agreement between Merck and Helix means that
Merck will no longer have the option to license Helix's Biphasix(TM)
technology and phases out Merck's supply commitment with respect to
interferon-alpha 2b. The termination allows Helix to seek alternate
suppliers of interferon-alpha 2b to meet supply needs for Helix's
planned U.S. Phase II/III and European Phase III clinical trials. In
addition, the termination allows Helix to seek a strategic partner to
whom Helix could grant rights to license and commercialize any
products developed using TIFN alpha-2b combined with Helix's
Biphasix(TM) technology. 
Helix is developing products containing TIFN alpha-2b for the
treatment of certain skin/mucosal lesions caused by human papilloma
virus (HPV) infections. HPV is one of the most common sexually
transmitted infections, causing ano-genital warts and cervical
dysplasia and is linked to the development of a variety of cancers.
Helix's patented Biphasix(TM) technology is designed to facilitate
the dermatological delivery of macromolecules such as interferon. 
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 novel L-DOS47 new drug candidate and its
Topical Interferon Alpha-2b. Helix is currently listed on the TSX and
FSE under the symbol "HBP."  
Forward-Looking Statements and Risks and Uncertainties  
This news release contains certain forward-looking statements and
information (collectively, "forward-looking statements") within the
meaning of applicable Canadian securities laws including, without
limitation, forward-looking statements regarding Helix's prospective
U.S. Phase II/III and European Phase III clinical trials relating to
Topical Interferon Alpha-2b (low-grade cervical lesions), including
seeking strategic partner support, funding, alternative sources of
supply for interferon alpha-2b and obtaining regulatory approvals for
such trials. Forward-looking statements, which may be identified by
words including, without limitation, "will", "seek", "could", "may"
and other similar expressions, are intended to provide information
about management's current plans and expectations regarding future
operations.  
Although Helix believes that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties that may cause actual results or events to
differ materially from those anticipated and no assurance can be
given that these expectations will be realized, and undue reliance
should not be placed on such statements. Risk factors that could
cause actual results or events to differ materially from the
forward-looking statements include, without limitation, (i) the
inherent uncertainty involved in scientific research and drug
development; (ii) the risks associated with delay or inability to
complete clinical trials successfully and the long lead-times and
high costs associated with obtaining regulatory approval to market
any product which may result from successful completion of such
trials; (iii) the need to secure additional financing on terms
satisfactory to Helix or at all; (iv) clinical trials that yield
negative results, or results that do not justify future clinical
development; (v) that Helix is unable to secure the necessary
strategic partner support or supply of interferon alpha-2b to conduct
the prospective Topical Interferon Alpha-2b trials; and (vi) those
risks and uncertainties affecting the company as more fully described
in Helix's most recent Annual Information Form, including under the
headings "Forward-Looking Statements" and "Risk Factors", filed with
the Canadian Securities Administrators at www.sedar.com (together,
the "Helix Risk Factors"). Certain material factors or assumptions
are applied in making the forward-looking statements, including,
without limitation, that the Helix Risk Factors will not cause
Helix's actual results or events to differ materially from the
forward-looking statements.  
Forward-looking statements and information are based on the beliefs,
assumptions and expectations of Helix's management on the date of
this news release, and Helix does not assume any obligation to update
any forward-looking statement or information should those beliefs,
assumptions or expectations, or other circumstances change, except as
required by law. 
Investor Relations:
Helix BioPharma Corp.
Tel: 905 841-2300
Email: ir@helixbiopharma.com