Shorla Pharmaceuticals based in Dublin and Clonmel, Ireland, completed a Series A financing round worth $8.3 million. The round was led by Seroba Life Sciences, a European venture capital firm in Dublin. They were joined by Irish and Canadian-based family offices, as well as participation from Enterprise Ireland. The proceeds will be used to accelerate its oncology based programs through regulatory approval and build up its technical and commercial operations ahead of its first drug launch in 2021. Portion of the funds will also be used towards setting up an outpost focused on business development and regulatory and commercialization activities in the United States.
“We’re delighted to support an Irish company with such a promising pipeline of products designed to improve treatment options for cancer patients,” said Alan O’Connell, a partner at Seroba who has joined Shorla’s board of directors. “Shorla is led by experienced founders with a track record of success in the sector and we look forward to working with them to grow the company and bring their products to market.”
Shorla’s lead products are SH-111 and SH-105. SH-111 is a sterile injectable therapy for children and adults with leukemia. SH-105 targets breast and ovarian cancers. The company plans to file SH-105 with the U.S. Food and Drug Administration (FDA) by the end of 2020 and SH-111 in early 2021. The third program is SH-110, a liquid version of a pill for glioma, a form of brain cancer. The company anticipates the launch of SH-110 in 2022.