Shorla Oncology had a simple goal, to meet unmet needs in oncology treatments. The business has done more than that, proving that a brand with a global impact can be built anywhere and scale quickly.
The business was founded by Sharon Cunningham and Orlaith Ryan in 2018. Both had previously worked at Aerogen and they opted to set up their headquarters in Clonmel, Co Tipperary. To date, it has raised $45 million (€39 million).
Despite its relative youth in a sector famous for its long lead times due to the approval process, Shorla has already had four products approved by the US Food and Drug Administration (FDA), growing to 50 staff across its headquarters in Clonmel and a second office in Cambridge, Massachusetts.
“We identified shortcomings in oncology treatments and felt compelled to do something about it,” says Cunningham. “We wanted to serve underserved patient populations with improved treatment options. We have brought improved treatments to market and ensured continuous and reliable supply to the patients.”
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The company’s name is a portmanteau of the founder’s first names, with Ryan based at the headquarters in her hometown of Clonmel, while Cunningham works out of the Cambridge office.
The approach to the treatments developed by Shorla is one focused on making the experience easier for the patient.
“One is a liquid formulation that is palatable and, ultimately, is a patient-friendly treatment option. The goal is to make the patient’s journey better,” says Ryan.
Successful as Shorla has been since its inception, it was far from an easy path. Cunningham and Ryan leaned on their experience to guide them through the challenges of starting their own company.
Both had held senior roles in Aerogen, Cunningham leading the finance team and playing a pivotal role in its ultimate sale, while Ryan was at the forefront of its research. Both knew that starting Shorla would require graft.
“The three key challenges for us since we started have been the regulatory hurdles, which to a large extent we’ve overcome, then access to capital because our business is very capital intensive and it’s a very competitive space, so that has been an ongoing challenge, albeit one that we have overcome, and thirdly, talent,” says Cunningham.
“Talent is particularly relevant in the US, because deciding who to bring with you on this journey is fundamental to the ultimate success. It’s all about the people and the execution. Luckily, in the US, it’s a very flexible and agile market. While we speak the same language, culturally, there are significant nuances.”
The encouraging aspect of the challenges Shorla faced, aside from overcoming them, was that location was not an issue. This is something that Ryan is understandably proud of.
“While we started in Clonmel, we always had global ambition. That was encouraged by the Local Enterprise Office in Clonmel, and later Enterprise Ireland. We had access to an acceleration centre and it’s also quite accessible for travel,” says Ryan.
“It was a good launch pad for us. The southeast is a good region from a talent perspective and there’s a lot of technical talent there.”
The US office was opened in 2021 as Shorla grew aggressively but sustainably through the hard work of its founders and the reputation Ireland has in the pharma sector.
“The cluster of pharmaceutical companies in Ireland means that our track record in the sector is strong. That stood to us, helping us to foster relationships with the FDA and engage with them early in the development process,” says Cunningham.
“It meant that we were confident when we began the application process that they would be approved. It was just a case of timing. When it came to launching the products, having our ducks in a row and being prepared was crucial.
“We always had a launch mindset; we always knew we were going to launch these products. So, we started to get the administrative work under way early on, whether that was state licences or contracts with the various stakeholders. We wanted to be ready to launch our products as soon as they were approved.”
Self-awareness was another trait that helped Cunningham and Ryan. While the duo knew they had experience working in a large company thanks to their time at Aerogen, they also knew that leading their own company was a different challenge. Knowing what they didn’t know and finding people who did played a key role in Shorla’s success.
“Commercial execution is obviously an extremely important part of ensuring we reach the maximum number of patients and maximise revenues accordingly. We’ve got a very strong team, with all aspects of market access, marketing, and commercial operations in-house,” says Cunningham.
“Those are the key value driving activities that are fundamental to ensuring we retain control and ownership to maximise the opportunity.”
While based in Massachusetts, Cunningham has taken the Irish mantra of “tús maith, leath na hoibre” (a good start is half the work) to heart when it comes to driving the company in the US.
“Both myself and Orlaith spent time in industry growing our networks. That meant that whether it was supply chain, access to raw materials or manufacturing, or anything else, we had those relationships in place before we started the company,” says Cunningham.
“With the US, the focus is on fostering those relationships, whether that’s with key opinion leaders, hospitals and institutions, or prescribing oncologists. We engaged with them all early on to validate our ideas and we continue to do that, they are a key part in how quickly we got to market.”
The blend of skills the duo bring to Shorla is key to making the business work, according to Ryan.
“We’ve got complementary skill sets. We can objectively discuss technical, business, or commercial aspects, all while having an independent, fresh pair of eyes to look at something. That can be really underestimated in terms of value when it comes to working together,” she says.
“While we’re very different, we have similar work ethics and are very driven. We ultimately want the same thing, to bring our products to as many patients as possible. That underpins everything we do.”
Cunningham says their comfort in being open with one another has aided Shorla in its rapid development.
“Our being comfortable with constructively challenging each other has played a key role. We’re not afraid to challenge each other on anything. It’s a very comfortable place to be, it means all aspects get considered.”
While the Shorla co-founders can thrive from working together, there are macro factors beyond their control. The most obvious of late has been the US policy on tariffs.
“Every company in our industry is navigating tariffs. We have to navigate supply chain challenges all the time; we always need to have a Plan B ready, so we’re scenario planning all the time,” says Cunningham.
“It’s just something else we have to navigate, but it’s not something that keeps us up at night.”
Adapting to the macro factors of business has been a learning experience for the Shorla founders.
“You can only control what you can control and expect the unexpected. Embracing that and being comfortable with it is what’s important.”
Accepting that and focusing on the core operational side of the business is why Cunningham is confident about Shorla’s future.
“Ensuring reliability of supply and ensuring the maximum number of patients can access our treatments will ultimately lead to business success. We have ambitious goals from a company valuation perspective, and we want to explore other markets that we can facilitate,” she says.
“We’re in the US and some smaller territories right now. Europe and beyond are the targets now.”
As co-founders who have navigated all the start-up pain but succeeded in raising significant capital and bringing products to market, Cunningham and Ryan offer relevant yet straightforward advice for anyone looking to start their own business.
“Sleep with one eye open and expect the unexpected. You can’t legislate for the external factors, but you need always to be ready for what’s around the corner,” says Cunningham.
Ryan, meanwhile, advises would-be founders to understand that there is a process to developing a successful business.
“Be comfortable with change, embrace it. It’s a journey. Surround yourself with the best team possible to take that journey and enjoy it.”
