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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">






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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%"></TD>
    <TD width="5%"></TD>
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<TR valign="bottom">
    <TD NOWRAP align="left" valign="top"><b>As filed with the
Securities and Exchange Commission on July&nbsp;31, 2006</b>
</TD>
    <TD>&nbsp;</TD>
    <TD  align="right" valign="top"><B>Registration No.&nbsp;333-&#95;&#95;&#95; </B></TD>
</TR>
<TR>
<TD COLSPAN="3" STYLE="Font-size: 6pt">&nbsp;</TD>
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</TABLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>HELIX BIOMEDIX, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>91-2099117</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>22122 20th Avenue SE, Suite&nbsp;148, Bothell, Washington</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>98021</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV><BR>
<B>Helix BioMedix, Inc. 2000 Stock Option Plan, as amended</B><BR>
(Full title of the plan)<BR>
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">David H. Kirske<BR>
22122 20th Avenue SE, Suite&nbsp;148<BR>
Bothell, Washington 98021<BR>
(Name and address of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(425)&nbsp;402-8400<BR>
(Telephone number, including area code, of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><I>Copies to:</I></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Mark F. Worthington, Esq.<BR>
Cy S. Hersch, Esq.<BR>
Summit Law Group, PLLC<BR>
315 Fifth Avenue South, Suite&nbsp;1000<BR>
Seattle, Washington 98104</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CALCULATION OF REGISTRATION FEE</B></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of securities to</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>offering price per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>be registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registered (4)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registration fee</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>165,500</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$0.70(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$115,850</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$12.40</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>115,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$0.85(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$97,750</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$10.46</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>899,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.00(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$899,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$96.19</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>50,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.20(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$60,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$6.42</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>25,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.48(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$37,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$3.96</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>643,750</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.50(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$965,625</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$103.32</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>3,750</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.65(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$6,188</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$0.66</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>75,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.75(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$131,250</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$14.04</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>615,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.80(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1,107,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$118.45</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>110,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.85(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$203,500</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$21.77</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>30,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.94(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$58,200</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$6.23</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (2)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>25,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$2.00(5)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$50,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$5.35</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>Common Stock, $0.001 par value per share (3)</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>2,598,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$1.01(6)</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$2,623,980</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$280.77</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>



<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>

<TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL</B></DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>5,355,000</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$6,355,343</B></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>

<TD align="center" valign="bottom" style="border-top: 2px solid #000000"><B>$680.02</B></TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>




<!-- End Table Body -->
</TABLE>
</DIV>



<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD>Includes Series&nbsp;A Junior Participating Preferred Stock purchase rights, which, prior to the
occurrence of certain events, will not be exercisable or evidenced separately from the
registrant&#146;s common stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD>Indicates common stock reserved for issuance upon exercise of stock options outstanding as of
the filing date of this registration statement and granted under the Helix BioMedix, Inc. 2000
Stock Option Plan, as amended (the &#147;<U>Plan</U>&#148;).</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(3)</TD>
    <TD>&nbsp;</TD>
    <TD>Indicates common stock reserved for issuance upon exercise of stock options that may be
granted after the filing date of this registration statement under the Plan.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(4)</TD>
    <TD>&nbsp;</TD>
    <TD>Together with an indeterminate number of additional shares which may be necessary to adjust
the number of shares reserved for issuance pursuant to the Plan as the result of any future
stock split, stock dividend or similar adjustment to the registrant&#146;s outstanding common
stock.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(5)</TD>
    <TD>&nbsp;</TD>
    <TD>Computed pursuant to Rule 457(h) under the Securities Act of 1933, as amended (the
&#147;<U>Securities Act</U>&#148;), based upon the fixed exercise prices of stock options outstanding
as of the filing date of this registration statement.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(6)</TD>
    <TD>&nbsp;</TD>
    <TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)
under the Securities Act based upon the average of the high and low sales prices of the
registrant&#146;s common stock on July&nbsp;25, 2006 as reported on
the OTC Bulletin Board.</TD>
</TR>

</TABLE>
</DIV>
 <DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;3. Incorporation of Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#006">Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#007">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#010">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="v22245orexv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v22245orexv23w2.txt">EXHIBIT 23.2</A></TD></TR>
<TR><TD colspan="9"><A HREF="v22245orexv23w3.txt">EXHIBIT 23.3</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I will be sent or given to
employees, officers, directors or others as specified by Rule&nbsp;428(b)(1) of the Securities Act. Such
documents are not being filed with the Securities and Exchange Commission (the
&#147;<U>Commission</U>&#148;) either as part of this registration statement or as prospectuses or
prospectus supplements pursuant to Rule&nbsp;424 of the Securities Act. Such documents and the documents
incorporated by reference in this registration statement pursuant to Item&nbsp;3 of Part&nbsp;II hereof,
taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "PART II" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>

</DIV>
<!-- link2 "Item&nbsp;3. Incorporation of Documents by Reference." -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following documents which have been filed by the registrant with the Commission are
incorporated herein by reference:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The registrant&#146;s Annual Report on Form 10-KSB for the fiscal year ended December&nbsp;31, 2005,
filed with the Commission on March&nbsp;27, 2006; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;All other reports filed pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act
of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;), since December&nbsp;31, 2005.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">All documents subsequently filed by the registrant with the Commission pursuant to Sections&nbsp;13(a),
13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities remaining
unsold, shall be deemed to be incorporated by reference into this registration statement and to be
a part of this registration statement from the date of filing of such documents.
</DIV>

<!-- link2 "Item&nbsp;4. Description of Securities." -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>General</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registrant&#146;s certificate of incorporation authorizes the issuance of up to 100,000,000 shares
of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value
$0.001 per share. The rights and preferences of the preferred stock may be established from time to
time by the registrant&#146;s board of directors. As of July&nbsp;25,
2006, 22,788,863&nbsp;shares of common stock were issued
and outstanding and no shares of preferred stock were issued and outstanding. In connection with
the stockholder rights agreement discussed below, 220,000 shares of preferred stock have been
designated Series&nbsp;A Junior Participating Preferred Stock (&#147;<U>Series&nbsp;A Junior Preferred</U>&#148;), no
shares of which were issued or outstanding as of July&nbsp;25, 2006.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Common Stock</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Dividend Rights</I>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Subject to prior rights and preferences (if any) that may apply to shares of preferred stock of the
registrant outstanding at the time, the holders of outstanding shares of the registrant&#146;s common
stock are entitled to receive such dividends (payable in cash, stock or otherwise) as may be
declared thereon by the registrant&#146;s board of directors at any time and from time to time out of
any funds of the registrant legally available therefor.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Voting Rights</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The holders of common stock are entitled to vote upon all matters submitted to a vote of the
holders of common stock and are entitled to one vote for each share of common stock held.
Cumulative voting is not permitted in the election of directors.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>No Preemptive or Similar Rights</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No holder of common stock is entitled to preemptive rights to subscribe for any shares of the
registrant&#146;s capital stock, and the common stock is not subject to conversion or redemption.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Right to Receive Liquidation Distributions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the event of any voluntary or involuntary liquidation, dissolution or winding-up of the
registrant, after payment or provision for payment of the debts and other liabilities of the
registrant and subject to the preferential or other rights (if any) of the holders of shares of
preferred stock of the registrant in respect thereof, the holders of shares of common stock are
entitled to receive all the remaining assets of the registrant available for distribution to its
stockholders, ratably in proportion to the number of shares of common stock held by them. For
purposes of this paragraph, a liquidation, dissolution or winding-up of the registrant is not
occasioned by and does not include (i)&nbsp;any consolidation or merger of the registrant with or into
another corporation or other entity or (ii)&nbsp;a sale, lease, exchange or conveyance of all or a part
of the assets of the registrant.
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Anti-Takeover Effects of Provisions of the Registrant&#146;s Certificate of Incorporation and
Bylaws</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain provisions of the registrant&#146;s certificate of incorporation and bylaws may have the effect
of making it more difficult for a third party to acquire, or of discouraging a third party from
attempting to acquire, control of the registrant. The certificate of incorporation authorizes
undesignated preferred stock that may be issued without stockholder approval, which makes it
possible for the registrant&#146;s board of directors to authorize preferred stock with voting or other
rights or preferences that could impede the success of an attempt to acquire control of the
registrant. In addition, the registrant&#146;s board of directors is divided into three classes, which
may tend to discourage or render more difficult a change in control because it generally makes it
more difficult for stockholders to replace a majority of the directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registrant&#146;s bylaws provide that stockholder action can be taken only at an annual or special
meeting of stockholders and may not be taken by written consent, and further provide that special
meetings of stockholders can be called only by the board of directors, the chairman of the board,
if any, or the chief executive officer. Moreover, the business permitted to be conducted at any
special meeting of stockholders is limited to the purposes stated in the notice of the meeting. The
registrant&#146;s bylaws set forth an advance notice procedure with regard to the nomination, other than
by or at the direction of the board of directors, of candidates for election as directors and with
regard to business to be brought before a meeting of stockholders.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Stockholder Rights Agreement</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In August&nbsp;2003, the registrant&#146;s board of directors adopted a stockholder rights agreement,
intended to deter certain takeover practices. In connection with the rights agreement, the
registrant&#146;s board of directors declared a dividend pursuant to which holders of its common stock
as of September&nbsp;15, 2003 received one right, for each share of common stock they held, to purchase
from the registrant one one-hundredth of a share of the registrant&#146;s Series&nbsp;A Junior Preferred at a
price of $18.00 per one one-hundredth share. The rights are also attached to shares of the
registrant&#146;s common stock issued after September&nbsp;15, 2003. The rights are exercisable only on the
occurrence of certain activity that may indicate an impending takeover attempt (generally, where a
person or group acquires 15&nbsp;percent or more of the registrant&#146;s common stock or announces a tender
offer or exchange offer for 15&nbsp;percent or more of the common stock). The rights agreement may have
the effect of preventing a particular takeover bid from being made or being successful, or make it
necessary for a potential acquirer to negotiate with the registrant&#146;s board of directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In connection with the stockholder rights agreement, 220,000 shares of the registrant&#146;s preferred
stock are designated &#147;Series&nbsp;A Junior Participating Preferred Stock.&#148; Each share of Series&nbsp;A Junior
Preferred will be entitled to a minimum preferential quarterly dividend payment of $1.00 per share,
but will be entitled to an aggregate dividend of 100 times the dividend declared per common share.
In the event of liquidation, the holders of the Series&nbsp;A Junior Preferred will be entitled to a
minimum preferential liquidation payment of $100 per share, but will be entitled to an aggregate
payment of 100 times the payment made per common share. Each share of Series&nbsp;A Junior Preferred
will have 100 votes, voting together with the common shares. In the event of any merger,
consolidation or other transaction in which common shares are exchanged, each share of Series&nbsp;A
Junior Preferred will be entitled to receive 100 times the amount received per common share. These
rights are protected by customary anti-dilution provisions. Because of the nature of the Series&nbsp;A
Junior Preferred shares&#146; dividend, liquidation and voting rights, the value of the one
one-hundredth interest in a Series&nbsp;A Junior Preferred share purchasable upon exercise of each
purchase right described in the preceding paragraph should approximate the value of one common
share. The Series&nbsp;A Junior Preferred shares would rank junior to any other series of the
registrant&#146;s preferred stock. As of July&nbsp;25, 2006, no shares of Series&nbsp;A Junior Preferred were issued or
outstanding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Delaware and Washington Anti-Takeover Law</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registrant is subject to the provisions of Section&nbsp;203 of Delaware General Corporation Law. In
general, the statute prohibits a Delaware corporation from engaging in a &#147;business combination&#148;
with an &#147;interested stockholder&#148; for a period of three years after the time that the stockholder
became an interested stockholder, unless:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>prior to the business combination, the board of directors approved either the
business combination or the transaction which resulted in the stockholder becoming an
interested stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>upon consummation of the transaction which resulted in the stockholder becoming
an interested stockholder, the interested stockholder owned at least 85% of the voting
stock outstanding at the time the transaction commenced, excluding for purposes of
determining the number of shares outstanding (but not the shares owned by the interested
stockholder):</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>shares owned by persons who are directors and also officers; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>shares owned by employee stock plans in which employee participants do
not have the right to determine confidentially whether shares held subject to the
plan will be tendered in a tender or exchange offer; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>at or after the time of the business combination, the business combination is:</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>approved by the board of directors; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>authorized at an annual or special meeting of stockholders, and not by
written consent, by the affirmative vote of at least 66 2/3% of the outstanding
voting stock which is not owned by the interested stockholder.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In general, the Delaware General Corporation Law defines an interested stockholder to be an entity
or person that beneficially owns 15% or more of the outstanding voting stock of the corporation or
any entity or person that is an affiliate or associate of such entity or person.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Delaware General Corporation Law generally defines &#147;business combination&#148; to include the
following:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any merger or consolidation involving the corporation and the interested
stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any sale, lease, exchange, mortgage, pledge, transfer or other disposition of 10%
or more of the assets of the corporation or its majority-owned subsidiary that involves
the interested stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to certain exceptions, any transaction that results in the issuance or
transfer by the corporation of any stock of the corporation to the interested
stockholder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>subject to certain exceptions, any transaction involving the corporation that has
the effect of increasing the interested stockholder&#146;s proportionate share of the stock
of any class or series of the corporation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the receipt by the interested stockholder of the benefit of any loans, advances,
guarantees, pledges or other financial benefits provided by or through the corporation.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">These provisions may have the effect of delaying, deferring or preventing a change in control
without further action by our stockholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The laws of the State of Washington, where the registrant&#146;s principal executive offices are
located, impose restrictions on certain transactions between certain foreign corporations and
significant stockholders. Chapter&nbsp;23B.19 of the Washington Business Corporation Act generally
prohibits a &#147;target corporation,&#148; with certain exceptions, from engaging in certain &#147;significant
business transactions&#148; with an &#147;acquiring person&#148; for a period of five years after the acquiring
person first became an acquiring person, unless the transaction or the purchase of shares by the
acquiring person is approved by a majority of the members of the target corporation&#146;s board of
directors prior to the time the acquiring person first became an acquiring person. An &#147;acquiring
person&#148; is generally a person or group of persons who beneficially owns 10% or more of the voting
securities of the target corporation. Prohibited transactions include, among other things:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a merger or consolidation with, disposition of assets to, or issuance or
redemption of stock to or from, the acquiring person;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>termination of 5% or more of the employees of the target corporation as a result
of the acquiring person&#146;s acquisition of 10% or more of the shares of the target
corporation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>allowing the acquiring person to receive a disproportionate benefit as a
stockholder.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After the five-year period, a significant business transaction may take place as long as it
complies with certain fair price provisions of the statute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A target corporation includes a foreign corporation if:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the corporation has a class of voting shares registered pursuant to Sections&nbsp;12
or 15 of the Securities Exchange Act of 1934, as amended;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the corporation&#146;s principal executive office is located in Washington;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the corporation has:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>more than 10% of its stockholders of record resident in Washington;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>more than 10% of its shares owned of record by Washington residents; or</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>1,000 or more stockholders of record resident in Washington;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a majority of the corporation&#146;s employees are Washington residents or more than
1,000 Washington residents are employees of the corporation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a majority of the corporation&#146;s tangible assets are located in Washington or the
corporation has more than $50&nbsp;million of tangible assets located in Washington.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Depending upon whether the registrant meets the definition of a target corporation, Chapter&nbsp;23B.19
of the Washington Business Corporation Act may have the effect of delaying, deferring or preventing
a change in control of the registrant.
</DIV>

<!-- link1 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">None.
</DIV>

<!-- link1 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Section&nbsp;145 of the Delaware General Corporation Law authorizes a court to award or a corporation&#146;s
board of directors to grant indemnification to directors and officers in terms sufficiently broad to permit such
indemnification under certain circumstances for liabilities (including reimbursement for expenses
incurred) arising under the Securities Act. The registrant&#146;s certificate of incorporation and
bylaws provide for the mandatory indemnification of its directors and officers and permissible
indemnification of employees and other agents to the maximum extent permitted by the Delaware
General Corporation Law. These provisions do not eliminate the fiduciary duty of the directors. In
addition, each director will continue to be subject to liability for breach of the director&#146;s duty
of loyalty to the registrant or its stockholders, for acts or omissions not in good faith or
involving intentional misconduct or a knowing violation of law, for actions leading to improper
personal benefit to the director and for liability under Section&nbsp;174 of the Delaware General
Corporation Law (generally relating to unlawful payments of dividends and unlawful stock
repurchases or redemptions).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The registrant currently maintains director and officer liability insurance.
</DIV>

<!-- link1 "Item&nbsp;7. Exemption from Registration Claimed." -->
<DIV align="left"><A NAME="006"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link1 "Item&nbsp;8. Exhibits." -->
<DIV align="left"><A NAME="007"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">5.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Summit Law Group, PLLC</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Summit Law Group, PLLC (included in Exhibit&nbsp;5.1)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Independent Registered Public Accounting Firm</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.3
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Independent Registered Public Accounting Firm</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">24.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on signature page)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">99.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Helix BioMedix, Inc. 2000 Stock Option Plan, as amended (incorporated by
reference from Exhibit&nbsp;10.5 to the registrant&#146;s Form&nbsp;10-KSB/A for the fiscal
year ended December&nbsp;31, 2002, filed with the Commission on April&nbsp;30, 2003)</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link1 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="008"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Reflect in the prospectus any facts or events which, individually or together, represent
a fundamental change in the information in the registration statement; and notwithstanding the
forgoing, any increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospects filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in the volume and
price represent no more than a 20% change in the maximum aggregate offering price set forth in the
&#147;Calculation of Registration Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;Include any additional or changed material information on the plan of distribution;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>provided</I>, <I>however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or 15(d)
of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;For determining liability under the Securities Act, to treat each post-effective amendment
as a new registration statement of the securities offered, and the offering of the securities at
that time to be the initial bona fide offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To file a post-effective amendment to remove from registration any of the securities that
remain unsold at the end of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;For determining liability of the undersigned small business issuer under the Securities
Act to any purchaser in the initial distribution of the securities, the undersigned small business
issuer undertakes that in a primary offering of securities of the undersigned small business issuer
pursuant to this registration statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to such purchaser by means of
any of the following communications, the undersigned small business issuer will be a seller to the
purchaser and will be considered to offer or sell such securities to such purchaser:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Any preliminary prospectus or prospectus of the undersigned small business issuer relating
to the offering required to be filed pursuant to Rule&nbsp;424;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;Any free writing prospectus relating to the offering prepared by or on behalf of the
undersigned small business issuer or used or referred to by the undersigned small business issuer;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;The portion of any other free writing prospectus relating to the offering containing
material information about the undersigned small business issuer or its securities provided by or
on behalf of the undersigned small business issuer; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;Any other communication that is an offer in the offering made by the undersigned small
business issuer to the purchaser.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(b)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the small business issuer pursuant to the foregoing
provisions, or otherwise, the small business issuer has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the small business issuer of expenses incurred
or paid by a director, officer or controlling person of the small business issuer in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the small business issuer will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Bothell, State of
Washington, on July&nbsp;31, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>HELIX BIOMEDIX, INC.<BR></B>&nbsp;(Registrant) <BR>
<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;R.
STEPHEN&nbsp;
BEATTY</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">R. Stephen Beatty&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><I>President, Chief Executive Officer</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints R. Stephen Beatty
his true and lawful attorney-in-fact and agent, with full power to act, and with full power of
substitution and resubstitution, to execute in his name and on his behalf, individually and in each
capacity stated below, any and all amendments and supplements to this registration statement, and
any and all other instruments necessary or incidental in connection herewith, and to file the same
with the Securities and Exchange Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed below by the following persons in the capacities and on the date indicated.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="19%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ WESTON ANSON<BR>
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Weston Anson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ R. STEPHEN BEATTY
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
R. Stephen Beatty
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President, Chief Executive Officer
and Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ RANDALL L-W. CAUDILL, PH.D.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Randall L-W. Caudill, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ RICHARD M. COHEN
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Richard M. Cohen
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ JOHN C. FIDDES, PH.D.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
John C. Fiddes, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ JEFFREY A. MILLER, PH.D.
<DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Jeffrey A. Miller, Ph.D.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ DAVID M. O&#146;CONNOR
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
David M. O&#146;Connor</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ BARRY L. SEIDMAN
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Barry L. Seidman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ DANIEL O. WILDS
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">July&nbsp;31, 2006</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
Daniel O. Wilds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="010"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
</TR>

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<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">5.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Summit Law Group, PLLC</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Summit Law Group, PLLC (included in Exhibit&nbsp;5.1)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.2
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Independent Registered Public Accounting Firm</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">23.3
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Independent Registered Public Accounting Firm</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">24.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on signature page)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">99.1
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Helix BioMedix, Inc. 2000 Stock Option Plan, as amended (incorporated by
reference from Exhibit&nbsp;10.5 to the registrant&#146;s Form&nbsp;10-KSB/A for the fiscal
year ended December&nbsp;31, 2002, filed with the Commission on April&nbsp;30, 2003)</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


</BODY>
</HTML>
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sv8
Table of Contents
As filed with the
Securities and Exchange Commission on July 31, 2006
Registration No. 333-___
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
HELIX BIOMEDIX, INC.
(Exact name of registrant as specified in its charter)
Delaware
91-2099117
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer
Identification No.)
22122 20th Avenue SE, Suite 148, Bothell, Washington
98021
(Address of Principal Executive Offices)
(Zip Code)
Helix BioMedix, Inc. 2000 Stock Option Plan, as amended
(Full title of the plan)
David H. Kirske
22122 20th Avenue SE, Suite 148
Bothell, Washington 98021
(Name and address of agent for service)
(425) 402-8400
(Telephone number, including area code, of agent for service)
Copies to:
Mark F. Worthington, Esq.
Cy S. Hersch, Esq.
Summit Law Group, PLLC
315 Fifth Avenue South, Suite 1000
Seattle, Washington 98104
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities to
Amount to be
offering price per
aggregate offering
Amount of
be registered (1)
registered (4)
share
price
registration fee
Common Stock, $0.001 par value per share (2)
165,500
$0.70(5)
$115,850
$12.40
Common Stock, $0.001 par value per share (2)
115,000
$0.85(5)
$97,750
$10.46
Common Stock, $0.001 par value per share (2)
899,000
$1.00(5)
$899,000
$96.19
Common Stock, $0.001 par value per share (2)
50,000
$1.20(5)
$60,000
$6.42
Common Stock, $0.001 par value per share (2)
25,000
$1.48(5)
$37,000
$3.96
Common Stock, $0.001 par value per share (2)
643,750
$1.50(5)
$965,625
$103.32
Common Stock, $0.001 par value per share (2)
3,750
$1.65(5)
$6,188
$0.66
Common Stock, $0.001 par value per share (2)
75,000
$1.75(5)
$131,250
$14.04
Common Stock, $0.001 par value per share (2)
615,000
$1.80(5)
$1,107,000
$118.45
Common Stock, $0.001 par value per share (2)
110,000
$1.85(5)
$203,500
$21.77
Common Stock, $0.001 par value per share (2)
30,000
$1.94(5)
$58,200
$6.23
Common Stock, $0.001 par value per share (2)
25,000
$2.00(5)
$50,000
$5.35
Common Stock, $0.001 par value per share (3)
2,598,000
$1.01(6)
$2,623,980
$280.77
TOTAL
5,355,000
$6,355,343
$680.02
(1)
Includes Series A Junior Participating Preferred Stock purchase rights, which, prior to the
occurrence of certain events, will not be exercisable or evidenced separately from the
registrant's common stock.
(2)
Indicates common stock reserved for issuance upon exercise of stock options outstanding as of
the filing date of this registration statement and granted under the Helix BioMedix, Inc. 2000
Stock Option Plan, as amended (the "
Plan
").
(3)
Indicates common stock reserved for issuance upon exercise of stock options that may be
granted after the filing date of this registration statement under the Plan.
(4)
Together with an indeterminate number of additional shares which may be necessary to adjust
the number of shares reserved for issuance pursuant to the Plan as the result of any future
stock split, stock dividend or similar adjustment to the registrant's outstanding common
stock.
(5)
Computed pursuant to Rule 457(h) under the Securities Act of 1933, as amended (the
"
Securities Act
"), based upon the fixed exercise prices of stock options outstanding
as of the filing date of this registration statement.
(6)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)
under the Securities Act based upon the average of the high and low sales prices of the
registrant's common stock on July 25, 2006 as reported on
the OTC Bulletin Board.
TABLE OF CONTENTS
PART I
PART II
Item 3. Incorporation of Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EXHIBIT INDEX
EXHIBIT 5.1
EXHIBIT 23.2
EXHIBIT 23.3
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I will be sent or given to
employees, officers, directors or others as specified by Rule 428(b)(1) of the Securities Act. Such
documents are not being filed with the Securities and Exchange Commission (the
"
Commission
") either as part of this registration statement or as prospectuses or
prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents
incorporated by reference in this registration statement pursuant to Item 3 of Part II hereof,
taken together, constitute a prospectus that meets the requirements of Section 10(a) of the
Securities Act.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents which have been filed by the registrant with the Commission are
incorporated herein by reference:
(a) The registrant's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2005,
filed with the Commission on March 27, 2006; and
(b) All other reports filed pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act
of 1934, as amended (the "
Exchange Act
"), since December 31, 2005.
All documents subsequently filed by the registrant with the Commission pursuant to Sections 13(a),
13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment which
indicates that all securities offered have been sold or which deregisters all securities remaining
unsold, shall be deemed to be incorporated by reference into this registration statement and to be
a part of this registration statement from the date of filing of such documents.
Item 4. Description of Securities.
General
The registrant's certificate of incorporation authorizes the issuance of up to 100,000,000 shares
of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value
$0.001 per share. The rights and preferences of the preferred stock may be established from time to
time by the registrant's board of directors. As of July 25,
2006, 22,788,863 shares of common stock were issued
and outstanding and no shares of preferred stock were issued and outstanding. In connection with
the stockholder rights agreement discussed below, 220,000 shares of preferred stock have been
designated Series A Junior Participating Preferred Stock ("
Series A Junior Preferred
"), no
shares of which were issued or outstanding as of July 25, 2006.
Common Stock
Dividend Rights
Subject to prior rights and preferences (if any) that may apply to shares of preferred stock of the
registrant outstanding at the time, the holders of outstanding shares of the registrant's common
stock are entitled to receive such dividends (payable in cash, stock or otherwise) as may be
declared thereon by the registrant's board of directors at any time and from time to time out of
any funds of the registrant legally available therefor.
Voting Rights
The holders of common stock are entitled to vote upon all matters submitted to a vote of the
holders of common stock and are entitled to one vote for each share of common stock held.
Cumulative voting is not permitted in the election of directors.
No Preemptive or Similar Rights
No holder of common stock is entitled to preemptive rights to subscribe for any shares of the
registrant's capital stock, and the common stock is not subject to conversion or redemption.
Right to Receive Liquidation Distributions
In the event of any voluntary or involuntary liquidation, dissolution or winding-up of the
registrant, after payment or provision for payment of the debts and other liabilities of the
registrant and subject to the preferential or other rights (if any) of the holders of shares of
preferred stock of the registrant in respect thereof, the holders of shares of common stock are
entitled to receive all the remaining assets of the registrant available for distribution to its
stockholders, ratably in proportion to the number of shares of common stock held by them. For
purposes of this paragraph, a liquidation, dissolution or winding-up of the registrant is not
occasioned by and does not include (i) any consolidation or merger of the registrant with or into
another corporation or other entity or (ii) a sale, lease, exchange or conveyance of all or a part
of the assets of the registrant.
Table of Contents
Anti-Takeover Effects of Provisions of the Registrant's Certificate of Incorporation and
Bylaws
Certain provisions of the registrant's certificate of incorporation and bylaws may have the effect
of making it more difficult for a third party to acquire, or of discouraging a third party from
attempting to acquire, control of the registrant. The certificate of incorporation authorizes
undesignated preferred stock that may be issued without stockholder approval, which makes it
possible for the registrant's board of directors to authorize preferred stock with voting or other
rights or preferences that could impede the success of an attempt to acquire control of the
registrant. In addition, the registrant's board of directors is divided into three classes, which
may tend to discourage or render more difficult a change in control because it generally makes it
more difficult for stockholders to replace a majority of the directors.
The registrant's bylaws provide that stockholder action can be taken only at an annual or special
meeting of stockholders and may not be taken by written consent, and further provide that special
meetings of stockholders can be called only by the board of directors, the chairman of the board,
if any, or the chief executive officer. Moreover, the business permitted to be conducted at any
special meeting of stockholders is limited to the purposes stated in the notice of the meeting. The
registrant's bylaws set forth an advance notice procedure with regard to the nomination, other than
by or at the direction of the board of directors, of candidates for election as directors and with
regard to business to be brought before a meeting of stockholders.
Stockholder Rights Agreement
In August 2003, the registrant's board of directors adopted a stockholder rights agreement,
intended to deter certain takeover practices. In connection with the rights agreement, the
registrant's board of directors declared a dividend pursuant to which holders of its common stock
as of September 15, 2003 received one right, for each share of common stock they held, to purchase
from the registrant one one-hundredth of a share of the registrant's Series A Junior Preferred at a
price of $18.00 per one one-hundredth share. The rights are also attached to shares of the
registrant's common stock issued after September 15, 2003. The rights are exercisable only on the
occurrence of certain activity that may indicate an impending takeover attempt (generally, where a
person or group acquires 15 percent or more of the registrant's common stock or announces a tender
offer or exchange offer for 15 percent or more of the common stock). The rights agreement may have
the effect of preventing a particular takeover bid from being made or being successful, or make it
necessary for a potential acquirer to negotiate with the registrant's board of directors.
In connection with the stockholder rights agreement, 220,000 shares of the registrant's preferred
stock are designated "Series A Junior Participating Preferred Stock." Each share of Series A Junior
Preferred will be entitled to a minimum preferential quarterly dividend payment of $1.00 per share,
but will be entitled to an aggregate dividend of 100 times the dividend declared per common share.
In the event of liquidation, the holders of the Series A Junior Preferred will be entitled to a
minimum preferential liquidation payment of $100 per share, but will be entitled to an aggregate
payment of 100 times the payment made per common share. Each share of Series A Junior Preferred
will have 100 votes, voting together with the common shares. In the event of any merger,
consolidation or other transaction in which common shares are exchanged, each share of Series A
Junior Preferred will be entitled to receive 100 times the amount received per common share. These
rights are protected by customary anti-dilution provisions. Because of the nature of the Series A
Junior Preferred shares' dividend, liquidation and voting rights, the value of the one
one-hundredth interest in a Series A Junior Preferred share purchasable upon exercise of each
purchase right described in the preceding paragraph should approximate the value of one common
share. The Series A Junior Preferred shares would rank junior to any other series of the
registrant's preferred stock. As of July 25, 2006, no shares of Series A Junior Preferred were issued or
outstanding.
Delaware and Washington Anti-Takeover Law
The registrant is subject to the provisions of Section 203 of Delaware General Corporation Law. In
general, the statute prohibits a Delaware corporation from engaging in a "business combination"
with an "interested stockholder" for a period of three years after the time that the stockholder
became an interested stockholder, unless:
•
prior to the business combination, the board of directors approved either the
business combination or the transaction which resulted in the stockholder becoming an
interested stockholder;
•
upon consummation of the transaction which resulted in the stockholder becoming
an interested stockholder, the interested stockholder owned at least 85% of the voting
stock outstanding at the time the transaction commenced, excluding for purposes of
determining the number of shares outstanding (but not the shares owned by the interested
stockholder):
•
shares owned by persons who are directors and also officers; and
•
shares owned by employee stock plans in which employee participants do
not have the right to determine confidentially whether shares held subject to the
plan will be tendered in a tender or exchange offer; or
•
at or after the time of the business combination, the business combination is:
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•
approved by the board of directors; and
•
authorized at an annual or special meeting of stockholders, and not by
written consent, by the affirmative vote of at least 66 2/3% of the outstanding
voting stock which is not owned by the interested stockholder.
In general, the Delaware General Corporation Law defines an interested stockholder to be an entity
or person that beneficially owns 15% or more of the outstanding voting stock of the corporation or
any entity or person that is an affiliate or associate of such entity or person.
The Delaware General Corporation Law generally defines "business combination" to include the
following:
•
any merger or consolidation involving the corporation and the interested
stockholder;
•
any sale, lease, exchange, mortgage, pledge, transfer or other disposition of 10%
or more of the assets of the corporation or its majority-owned subsidiary that involves
the interested stockholder;
•
subject to certain exceptions, any transaction that results in the issuance or
transfer by the corporation of any stock of the corporation to the interested
stockholder;
•
subject to certain exceptions, any transaction involving the corporation that has
the effect of increasing the interested stockholder's proportionate share of the stock
of any class or series of the corporation; and
•
the receipt by the interested stockholder of the benefit of any loans, advances,
guarantees, pledges or other financial benefits provided by or through the corporation.
These provisions may have the effect of delaying, deferring or preventing a change in control
without further action by our stockholders.
The laws of the State of Washington, where the registrant's principal executive offices are
located, impose restrictions on certain transactions between certain foreign corporations and
significant stockholders. Chapter 23B.19 of the Washington Business Corporation Act generally
prohibits a "target corporation," with certain exceptions, from engaging in certain "significant
business transactions" with an "acquiring person" for a period of five years after the acquiring
person first became an acquiring person, unless the transaction or the purchase of shares by the
acquiring person is approved by a majority of the members of the target corporation's board of
directors prior to the time the acquiring person first became an acquiring person. An "acquiring
person" is generally a person or group of persons who beneficially owns 10% or more of the voting
securities of the target corporation. Prohibited transactions include, among other things:
•
a merger or consolidation with, disposition of assets to, or issuance or
redemption of stock to or from, the acquiring person;
•
termination of 5% or more of the employees of the target corporation as a result
of the acquiring person's acquisition of 10% or more of the shares of the target
corporation; and
•
allowing the acquiring person to receive a disproportionate benefit as a
stockholder.
After the five-year period, a significant business transaction may take place as long as it
complies with certain fair price provisions of the statute.
A target corporation includes a foreign corporation if:
•
the corporation has a class of voting shares registered pursuant to Sections 12
or 15 of the Securities Exchange Act of 1934, as amended;
•
the corporation's principal executive office is located in Washington;
•
the corporation has:
•
more than 10% of its stockholders of record resident in Washington;
•
more than 10% of its shares owned of record by Washington residents; or
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•
1,000 or more stockholders of record resident in Washington;
•
a majority of the corporation's employees are Washington residents or more than
1,000 Washington residents are employees of the corporation; and
•
a majority of the corporation's tangible assets are located in Washington or the
corporation has more than $50 million of tangible assets located in Washington.
Depending upon whether the registrant meets the definition of a target corporation, Chapter 23B.19
of the Washington Business Corporation Act may have the effect of delaying, deferring or preventing
a change in control of the registrant.
Item 5. Interests of Named Experts and Counsel.
None.
Item 6. Indemnification of Directors and Officers.
Section 145 of the Delaware General Corporation Law authorizes a court to award or a corporation's
board of directors to grant indemnification to directors and officers in terms sufficiently broad to permit such
indemnification under certain circumstances for liabilities (including reimbursement for expenses
incurred) arising under the Securities Act. The registrant's certificate of incorporation and
bylaws provide for the mandatory indemnification of its directors and officers and permissible
indemnification of employees and other agents to the maximum extent permitted by the Delaware
General Corporation Law. These provisions do not eliminate the fiduciary duty of the directors. In
addition, each director will continue to be subject to liability for breach of the director's duty
of loyalty to the registrant or its stockholders, for acts or omissions not in good faith or
involving intentional misconduct or a knowing violation of law, for actions leading to improper
personal benefit to the director and for liability under Section 174 of the Delaware General
Corporation Law (generally relating to unlawful payments of dividends and unlawful stock
repurchases or redemptions).
The registrant currently maintains director and officer liability insurance.
Item 7. Exemption from Registration Claimed.
Not applicable.
Item 8. Exhibits.
Exhibit
Number
Exhibit
5.1
Opinion of Summit Law Group, PLLC
23.1
Consent of Summit Law Group, PLLC (included in Exhibit 5.1)
23.2
Consent of Independent Registered Public Accounting Firm
23.3
Consent of Independent Registered Public Accounting Firm
24.1
Power of Attorney (included on signature page)
99.1
Helix BioMedix, Inc. 2000 Stock Option Plan, as amended (incorporated by
reference from Exhibit 10.5 to the registrant's Form 10-KSB/A for the fiscal
year ended December 31, 2002, filed with the Commission on April 30, 2003)
Item 9. Undertakings.
(a)
The undersigned registrant hereby undertakes:
(1) To file, during any period in which it offers or sells securities, a post-effective
amendment to this registration statement to:
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(i) Include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii) Reflect in the prospectus any facts or events which, individually or together, represent
a fundamental change in the information in the registration statement; and notwithstanding the
forgoing, any increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of prospects filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in the volume and
price represent no more than a 20% change in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective registration statement; and
(iii) Include any additional or changed material information on the plan of distribution;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement.
(2) For determining liability under the Securities Act, to treat each post-effective amendment
as a new registration statement of the securities offered, and the offering of the securities at
that time to be the initial bona fide offering.
(3) To file a post-effective amendment to remove from registration any of the securities that
remain unsold at the end of the offering.
(4) For determining liability of the undersigned small business issuer under the Securities
Act to any purchaser in the initial distribution of the securities, the undersigned small business
issuer undertakes that in a primary offering of securities of the undersigned small business issuer
pursuant to this registration statement, regardless of the underwriting method used to sell the
securities to the purchaser, if the securities are offered or sold to such purchaser by means of
any of the following communications, the undersigned small business issuer will be a seller to the
purchaser and will be considered to offer or sell such securities to such purchaser:
(i) Any preliminary prospectus or prospectus of the undersigned small business issuer relating
to the offering required to be filed pursuant to Rule 424;
(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the
undersigned small business issuer or used or referred to by the undersigned small business issuer;
(iii) The portion of any other free writing prospectus relating to the offering containing
material information about the undersigned small business issuer or its securities provided by or
on behalf of the undersigned small business issuer; and
(iv) Any other communication that is an offer in the offering made by the undersigned small
business issuer to the purchaser.
(b) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to
directors, officers and controlling persons of the small business issuer pursuant to the foregoing
provisions, or otherwise, the small business issuer has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the small business issuer of expenses incurred
or paid by a director, officer or controlling person of the small business issuer in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the small business issuer will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Bothell, State of
Washington, on July 31, 2006.
HELIX BIOMEDIX, INC.
(Registrant)
By:
/s/ R.
STEPHEN 
BEATTY
R. Stephen Beatty
President, Chief Executive Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints R. Stephen Beatty
his true and lawful attorney-in-fact and agent, with full power to act, and with full power of
substitution and resubstitution, to execute in his name and on his behalf, individually and in each
capacity stated below, any and all amendments and supplements to this registration statement, and
any and all other instruments necessary or incidental in connection herewith, and to file the same
with the Securities and Exchange Commission.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed below by the following persons in the capacities and on the date indicated.
Signature
Title
Date
/s/ WESTON ANSON
Weston Anson
Director
July 31, 2006
/s/ R. STEPHEN BEATTY
R. Stephen Beatty
President, Chief Executive Officer
and Director
July 31, 2006
/s/ RANDALL L-W. CAUDILL, PH.D.
Randall L-W. Caudill, Ph.D.
Director
July 31, 2006
/s/ RICHARD M. COHEN
Richard M. Cohen
Director
July 31, 2006
/s/ JOHN C. FIDDES, PH.D.
John C. Fiddes, Ph.D.
Director
July 31, 2006
/s/ JEFFREY A. MILLER, PH.D.
Jeffrey A. Miller, Ph.D.
Director
July 31, 2006
/s/ DAVID M. O'CONNOR
Director
July 31, 2006
David M. O'Connor
/s/ BARRY L. SEIDMAN
Director
July 31, 2006
Barry L. Seidman
/s/ DANIEL O. WILDS
Director
July 31, 2006
Daniel O. Wilds
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EXHIBIT INDEX
Exhibit
Number
Exhibit
5.1
Opinion of Summit Law Group, PLLC
23.1
Consent of Summit Law Group, PLLC (included in Exhibit 5.1)
23.2
Consent of Independent Registered Public Accounting Firm
23.3
Consent of Independent Registered Public Accounting Firm
24.1
Power of Attorney (included on signature page)
99.1
Helix BioMedix, Inc. 2000 Stock Option Plan, as amended (incorporated by
reference from Exhibit 10.5 to the registrant's Form 10-KSB/A for the fiscal
year ended December 31, 2002, filed with the Commission on April 30, 2003)