Helix BioPharma Corp (TSE:HBP) the clinical-stage biopharma, told investors it had now closed its previously announced transaction with CAIAC Fund Management AG (CAIAC) to divest its remaining holdings in its Polish subsidiary, for gross proceeds of PLN 6.7 million (C$2.308 million).
As announced on November 9 this year, Helix signed a definitive agreement with CAIAC to purchase Helix's remaining holdings in the subsidiary Helix Immuno-Oncology S.A (HIO).
READ: Helix BioPharma announces reduced loss and R&D spend in fiscal first quarter
The company, based in Toronto, is a biopharmaceutical company developing unique therapies in the field of immuno-oncology for the prevention and treatment of cancer, based on its proprietary technology platform DOS47.
Following its third-quarter results, issued this month, Zacks Investment Research analyst John Vandermosten valued the Helix Biopharma stock at C$2.
The analyst also noted that the group had now streamlined its operations with the successful divestiture of the Polish asset and was expected to receive around C$2 million net "in short order".
Helix BioPharma shares closed yesterday in Toronto at C$0.32 each.
Contact the author at giles@proactiveinvestors.com