Cork research firm shares on market

Publicly-quoted pharmaceutical research company EiRx Therapeutics said venture capital group Billam, one of its major shareholders, would raise almost €500,000 from the sale of some of its stake.

Chief executive Ian Hayes said the sale would improve liquidity in EiRx’s shares. London stockbroker Hoodless Brennan & Partners will buy the shares when they are admitted to London’s Alternative Investment Market tomorrow.

The company is based at Cork Airport Business Park and employs 12 people.