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EiRx Therapeutic PLC (ERX)

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Wednesday 20 September, 2006

EiRx Therapeutic PLC

Placing

EiRx Therapeutics PLC
20 September 2006


For immediate release                                          20 September 2006


                             EIRX THERAPEUTICS PLC
                           ('EiRx' or 'the Company')

                                £500,000 PLACING

Cork, Ireland - EiRx Therapeutics plc (AIM: ERX), the drug discovery company
developing targeted therapies for cancer, is pleased to announce that it has
Placed through Seymour Pierce Ellis, 200m Eirx shares of 0.2p nominal value, at
a price of 0.25p per share. The funds raised will provide the Company with
additional working capital.  Application will be made for the admission of these
shares to trading on AIM, with Admission expected to take place on 27 September.

For further information, please contact:

EiRx Therapeutics plc                                    +44 (0) 1260226529

Buchanan Communications                                  +44 (0) 20 7466 5000
Tim Anderson / Mark Court / Mary-Jane Johnson


ENDS

Notes for Editors:

About EiRx

EiRx Therapeutics (AIM: ERX) is a research-driven healthcare company developing
new targeted therapies for the treatment of cancer.  EiRx is headquartered in
Cork, Ireland, conducts drug discovery from its laboratories in Cork and in
Aberdeen, Scotland, and has an initial focus on tumours arising due to anomalous
GSK/Wnt  signalling, in particular breast and colorectal tumours.

Since its foundation in 1999 EiRx has developed into a leader in the study of
functional pathways critical to cancer cell survival and growth, with a research
base encompassing apoptosis biology, translational medicine and the metabolic
basis of drug resistance in tumours.  Using its state-of-the-art, proprietary
ALIBI(TM) platform, EiRx has gained new insights into the mechanisms underlying
a cell's decision to survive or die, and has implicated a range of novel genes
in pivotal control mechanisms such as the PI3K/AKT and GSK/Wnt survival
pathways.  In combining functional validation technologies with unique clinical
resources such as the ACCRI-BANK tissue collection, EiRx is linking the
molecular activity of these targets with clinical consequences in patient
populations.  By streaming validated targets into an innovative compound
screening approach EiRx is creating a product development engine specialising in
cancer target discovery, validation and targeted therapy.

Notable milestones in 2005/6 include:

acquisition of oncology company Auvation Ltd

collaborative research agreement with Merck & Co. Inc. to evaluate EiRx's siRNA
delivery technology

award of a Marie Curie Programme grant from the European Commission, to support
development of the company's screening, chemistry and efficacy testing
capabilities

development of the EnPAD(TM) drug screening technology to enable identification of
compounds that specifically target cell survival pathways

filing of patent applications on first series of potential anti-cancer compounds
identified using EnPAD(TM), which target the b-catenin signalling pathway to
selectively kill colorectal and breast cancer cells in vitro

filing of patent application describing a second series of potential anti-cancer
compounds identified using EnPAD(TM)

£1.2M raised by issue of new shares on 31st March 2006

collaborative research agreement with bioMerieux SA

For more information visit www.eirx.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                          

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