US-Ireland speciality pharmaceutical company Shorla Oncology has received $35m in Series B funding to boost its oncology portfolio growth by advancing its pipeline of drug candidates.

Led by Kurma Partners’ Growth Opportunities Fund, the financing round saw participation from existing investors Seroba Life Sciences as well as Enterprise Ireland, and Irish, US and Canada-based family offices.

Kurma partner Daniel Parera said: “We are excited to support Shorla’s growth as an integrated speciality 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.”

With a focus on orphan and paediatric cancers, Shorla is involved in the development of treatments for oncology.

Supported by a team of clinicians and scientists, the company is advancing a differentiated oncology treatment portfolio to address significant gaps in patient care.

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Recently, the company received approval from the US Food and Drug Administration for its Nelarabine Injection. It has also announced the launch of the injection in the country.

It intends to launch further products into the market with a growing portfolio of late-stage assets.

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.”