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EiRx Therapeutic PLC (ERX)

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Wednesday 27 February, 2008

EiRx Therapeutic PLC

Receipt of Grant Payment

EiRx Therapeutics PLC
27 February 2008

                             EIRX THERAPEUTICS PLC

                          ( 'EiRx' or 'the Company' )

                            Receipt of Grant Payment



Cork, Ireland - EiRx Therapeutics plc (AIM: ERX), the drug discovery company
developing targeted therapies for cancer, is pleased to announce it has received
a final payment of €219,157.40 from the European Commission under the Company's
Marie Curie Host Fellowships for the Transfer of Knowledge grant.  This grant
was awarded to EiRx by the Commission as part of its Sixth Framework Programme
for Research and Technological Development, as previously announced on 4 March
2005.



Payment draw-down under the grant, which was awarded to the Company to support
its move from drug target discovery to the higher value discovery and
development of candidate cancer drugs, was linked to expenditure incurred by the
Company in the course of the research programme.  The current payment brings the
total sum drawn down by the Company to €524,216.45, from a total approved
maximum of €575,414.00.



EiRx was one of the first companies to be awarded a grant under the Marie Curie
TOK scheme, which supports European Companies demonstrating technical,
managerial and scientific excellence.



Commenting on the payment, EiRx Chairman John Pool said:



'The Directors would like to express their appreciation to the Commission for
the support received under the Marie Curie programme, which has supported the
establishment of the Company's Engineered Pathway Dependence (EnPADTM)
technology platform for the rapid, low-cost discovery of targeted cancer drug
candidates.  We look forward to progressing certain of these candidate compounds
through our medicinal chemistry collaboration with the Analytical and Biological
Chemistry Research Facility at University College Cork, which is being supported
with further grant funding from Enterprise Ireland's Innovation Partnership
scheme.'





For further information, please contact:


EiRx Therapeutics plc                                 +353 (0)21 432 0847
Colin Telfer PhD, Chief Executive Officer
Grant Thornton Corporate Finance                      +44 (0)20 7383 5100
Philip Secrett / Colin Aaronson





About EiRx

EiRx Therapeutics (AIM: ERX) is a research-driven healthcare company developing
cutting-edge targeted therapies for the treatment of cancer.  Headquartered in
Cork, Ireland, the Company conducts drug discovery focused on tumours arising
due to anomalies in apoptosis and cellular growth regulatory pathways, with
particular relation to breast and colorectal tumours, currently two of the four
leading causes of death from cancer world-wide.



EiRx is built on leading scientific expertise in the areas of apoptosis biology,
cancer pathway biology, biomarker technologies and the metabolic basis of drug
resistance in tumours.  It has established technical capabilities in target
identification, validation and cell-based screening, and is combining unique
resources such as the ACCRI-BANK clinical tissue bank, the ALIBITM functional
genomics platform and the Engineered Pathway Dependence ('EnPADTM') isogenic
cellular screening technology to create a product development engine
specialising in discovery and development of small-molecule targeted cancer
therapies and the discovery and validation of cancer biomarkers.


For further information please see our website at http://www.eirx.com



Disclaimer

The content of this notice reflects only the author's views and the European
Commission does not accept any liability for any use that may be made of the
information contained herein.







ENDS


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