Subject: helix 7/2/96

VANCOUVER, British Columbia--(BUSINESS WIRE)--June 20, 1996-- HELIX BIOPHARMA
CORP. (TSE, VSE: HBP) Helix BioPharma is  pleased to announce that it has
closed its private placement of  2,500,000 Special Warrants at $2.00 per
warrant for gross proceeds of $5 million.   

The net proceeds of the offering will be used for general working capital,
including but not limited to: the registration, marketing  and acquisition of
pharmaceutical products, the development of  Ampligen, a product which may be
effective in treating patients  suffering from Chronic Fatigue Syndrome, and
the development of Helix BioPharma's anti-infective technology, which will be
tested against  oral and vaginal yeast infections.   

Each Special Warrant entitles the holder to obtain one common  share of the
Company at no additional cost.  The Company will receive 50 percent of the
net proceeds of the Special Warrant placement upon  the filing of a
Preliminary Prospectus with the Securities  Commissions of B.C., Manitoba and
Ontario.  The remaining 50 percent  of the net proceeds of the issue will be
released to the Company once receipts have been issued for the Final
Prospectus by all of the  Securities Commissions.  Should the Company fail to
file a  Preliminary Prospectus before August 14, 1996, the Special Warrants
will be deemed to be cancelled and all proceeds of the placement will be
returned to the placees.   

In the event that receipts are not issued by the Securities  Commissions for
the Company's Final Prospectus on or before September 30, 1996, then each
Special Warrant will be convertible into 1.1  common shares of the Company.
The Special Warrants and the common  shares of the company issuable on the
exercise of the Special  Warrants are subject to a hold period expiring June
18, 1997 unless  earlier qualified by the prospectus.   

The Agents for the placement, Wallace Dewan & Partners Inc. and  Griffiths
McBurney & Partners of Toronto, have received a cash fee of 6 percent of the
gross proceeds, plus 250,000 special compensation  warrants each entitling
the Agents to purchase, until June 18, 1998,  one common share of the Company
at a price of $2.06 per share.   

ON BEHALF OF THE BOARD                                             

Terrance G. Owen, Ph.D., M.B.A., President                         -0- 

Note to Editor: The Vancouver Stock Exchange has not reviewed and does not
accept responsibility for the adequacy of the content of the information
contained herein.