Shorla Oncology, a US-Ireland speciality pharmaceutical company, has disclosed a successful Series B funding round, securing a substantial $35m in investment.
This funding round was spearheaded by Kurma Partners’ Growth Opportunities Fund, with active involvement from established investors like Seroba Life Sciences. Additionally, participation was seen from various family offices based in Ireland, the US, and Canada, along with the support of Enterprise Ireland.
This substantial infusion of capital will play a pivotal role in propelling Shorla Oncology’s oncology portfolio to new heights. It will empower the company to expedite the development of its pipeline and bring essential therapies to the market.
These therapies aim to address the pressing issue of drug shortages and enhance the overall preparation and administration of oncology medications.
Shorla Oncology CEO Sharon Cunningham said: “We are thrilled to announce the successful conclusion of our Series B funding round.
“The investment will underpin the advancement and commercialisation of our oncology drugs ensuring we continue to deliver on our mission of bringing promising treatments to patients around the globe.”
Shorla Oncology specialises in the research and development of oncology treatments, with a particular emphasis on orphan and paediatric cancers. Supported by a dedicated team of scientists and clinicians, the company is actively advancing a unique portfolio of oncology therapies designed to fill crucial gaps in patient care.
Notably, Shorla recently achieved a significant milestone by securing FDA approval and subsequently launching Nelarabine Injection in the US. This achievement marks Shorla’s inaugural approval in the US pharmaceutical market.
Moreover, Shorla is committed to an ongoing mission of introducing additional products to the market, showcasing a robust and expanding portfolio of late-stage assets.
These innovative products serve to enhance the overall efficiency of cancer treatment by offering more convenient formulations for healthcare professionals and facilitating easier administration for patients.
Kurma Partners MD partner Daniel Parera said: “Shorla’s recent FDA approval is a testament to its capabilities for bringing differentiated formulations of life-changing medications to the market.
“We are excited to support Shorla’s growth as an integrated Specialty Pharma company to address shortcomings in patient care and improve outcomes. In particular, the team has shown impressive agility in identifying unmet needs and in operational execution.
“This matches very well with our focus and expertise as a Growth fund to support the scale-up of emerging champions of the European Healthcare and Life Science ecosystem.”
