Tuesday, April 16, 2024

Shorla Oncology Raises $35m in Funding to Advance Oncology Product Portfolio

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Shorla Oncology has raised $35 million in a funding round led by Kurma Partners’ Growth Opportunities Fund. Other participants in this funding round included Enterprise Ireland, Seroba Life Sciences, as well as US, Irish, and Canadian-based family offices. The funding will be used to progress Shorla’s oncology portfolio. Specifically, the company plans to advance its pipeline and bring its oncology drugs to market. The funding will also enhance the preparation and application of oncology medication.

Shorla Oncology’s CEO, Sharon Cunningham, stated that the investment will underpin the advancement and commercialization of their oncology drugs. This will ensure they continue to deliver on their mission of bringing promising treatments to patients around the globe. The company focuses on developing therapeutics for orphan and pediatric cancers.

Recently, Shorla announced the US Food and Drug Administration’s approval for Nelarabine Injection and its market launch, which is its first approval in the country. The company also plans to bring further products to market, with an expanding portfolio of late-stage assets.

Kurma Partners partner Daniel Parera expressed his excitement to support Shorla’s growth as an integrated Specialty Pharma company. The company aims to address shortcomings in patient care and improve outcomes. Parera noted the team’s impressive agility in identifying unmet needs and in operational execution.

Parera also added that Shorla’s focus matches very well with their expertise as a Growth fund. They aim to support the scale-up of emerging champions of the European Healthcare and Life Science ecosystem.

The recent funding round emphasizes the potential of Shorla’s oncology portfolio and the commitment to advancing cancer treatments, particularly for orphan and pediatric cancers. The company’s recent FDA approval for Nelarabine Injection and plans to bring more products to market illustrate the progress being made in the field of oncology.

The support from Kurma Partners and other investors underlines the belief in Shorla’s mission to deliver promising treatments to patients worldwide. The company’s focus on addressing unmet needs and improving patient outcomes aligns with the broader growth and development of the European Healthcare and Life Science ecosystem.

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