finance news

Shorla Pharma raises $3.8 million through a Series A funding round

Shorla Pharma raises $3.8 million through a Series A funding round
Shorla Pharma raises $3.8 million through a Series A funding round

Shorla Pharma Limited, an Irish pharmaceutical firm, has reportedly announced that it raised over $8.3 million through a Series A investment round, led by Seroba Life Sciences, a renowned European Venture Capital company located in Dublin, Ireland. The investment round also saw participation from Canadian and Irish family offices as well as Irish state economic development agency, Enterprise Ireland.

The pharmaceutical company has created innovative oncology drugs that focus on orphan, rare, and pediatric cancers, offering more effective products in indications where present treatment options are sub-optimal for target patients.

Shorla, founded by Orlaith Ryan and Sharon Cunningham, is named so as it is a combination of both their names. Both founders previously worked with EirGen Pharma, a pharma company located in Waterford, Ireland. Shorla is headquartered in Questum, an acceleration center based in Clonmel, Ireland.

Working with a powerful team of clinicians, scientists, as well as an extensive industry network, the pharmaceutical firm possesses an advanced portfolio of innovative drugs for the treatment of a number of unmet patients health needs. This new investment would support the expansion of the existing product pipeline and the advancement of commercial as well as technical operations across both U.S. and Ireland.

A partner at Seroba, Alan O’Connell, who also joined the board of directors at Shorla, stated that the company is thrilled to help an Irish firm that possesses such an extensive pipeline of products that are specifically designed to enhance treatment options for people suffering from cancer.

O’Connell further added that the company is led by experienced founders having a successful track record in the industry, and that Seroba looks forward to closely working with Shorla to further expand and launch innovative products to the market.

Shorla founder, Orlaith Ryan, stated that the substantial capital raised would provide the company the resources it needs to advance its product pipeline through both health authority commercialization and registration, which would ultimately create clinically impactful and valuable therapies to further improve patient outcomes.

 

Source credit: https://www.prnewswire.com/news-releases/shorla-pharma-closes-8-3m-series-a-funding-round-301069775.html

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