  We have detected four Giant Molecular cloud Associations (GMAs) (sizes <
6.6'' ~ 430 pc) in the western and eastern region of the polar ring in NGC2685
(the Helix galaxy) using the Owens Valley Radio Observatory (OVRO) millimeter
interferometer. Emission from molecular gas is found close to the brightest
Halpha and HI peaks in the polar ring and is confirmed by new IRAM 30m single
dish observations. The CO and HI line velocities are very similar, providing
additional kinematic confirmation that the CO emission emerges from the polar
ring. For the first time, the total molecular mass within a polar ring is
determined (M_H2~(8-11)x10^6 M_sol, using the standard Galactic conversion
factor). We detect about M_H2~4.4x10^6 M_sol in the nuclear region with the
single dish. Our upper limit derived from the interferometric data is lower
(M_H2<0.7x10^6 M_sol) suggesting that the molecular gas is distributed in an
extended (< 1.3 kpc) diffuse disk. These new values are an order of magnitude
lower than in previous reports. The total amount of molecular gas and the
atomic gas content of the polar ring are consistent with formation due to
accretion of a small gas-rich object, such as a dwarf irregular. The properties
of the NGC2685 system suggest that the polar ring and the host galaxy have been
in a stable configuration for a considerable time (few Gyr). The second (outer)
HI ring within the disk of NGC2685 is very likely at the outer Lindblad
resonance (OLR) of the ~ 11 kpc long stellar bar.
