Sharon Cunningham and Orlaith Ryan, co-founders of Tipperary-based cancer drug company Shorla Oncology, were named best emerging entrepreneurs at the annual EY Entrepreneur of the Year (EoY) on Thursday evening.
Founded in 2018, the company specialises in oncology drugs with a focus on rare, orphan and paediatric cancers. It has reformulated certain cutting-edge treatments to make them easier to use for their target patients, like a children’s cancer drug, which it redeveloped from a difficult to swallow capsule to an oral solution.
Shorla has a growing portfolio of pharmaceutical products, including four drugs approved by the Federal Drug Administration in the US.
The announcement was made at the annual EoY awards ceremony at the Powerscourt Hotel in Co Wicklow on Thursday evening.
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Ms Cunningham, who serves as chief executive of Shorla, and chief technology officer Ms Ryan met while working together at EirGen Pharma, the Waterford company founded by Patsy Carney and Tom Brennan which was acquired by US drugs firm Opko for $135 million (€128 million) in 2015.
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Earlier this year, Ms Cunningham and Ms Ryan told The Irish Times that Shorla has raised $45 million to expand its pipeline of treatments. This includes a 2020 Series A investment round, led by Dublin-based venture capital firm Seroba Life Sciences, whose other portfolio companies include Endotronix and Atlantic Therapeutics.
Previously, the company won the overall award at the Ireland’s Best Young Entrepreneur competition in 2019 and its founders were included on a list of 50 people to watch out for in 2020 by The Irish Times.
The finalists in the emerging category of this year’s awards were Kasper Weber Anderson and Liam McMahon, Beyond Creative; Seamus Tighe, Ecoplex Energy Solutions; Adrian Gilbane and Will Kennedy, Sons; Jack Kirwan, Sprout & Co; Ciaran Burke and Andrea Reynolds, Swoop; Denise Phillips, Voduz; and Damian Young, ZEUS Mobility.
Former taoiseach Enda Kenny also received a special recognition award at the annual gala event on Thursday, which marked the awards programme’s 27th year in Ireland.
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