On Target Laboratories Secures $30 Million For Commercialization Of Cytalux® (Pafolacianine) Injection

Nov 16, 2023•over 1 year ago

Amount Raised

$30 Million

West LafayetteTherapeuticsMedicalBiotechnologyHealth Care

Investors

Centers For Medicare & Medicaid Services

Description

On Target Laboratories, Inc., a privately held biotechnology company developing intraoperative molecular imaging agents to target and illuminate cancer during surgery, today announced the completion of a $30 million Series C financing. This significant investment will play a pivotal role in accelerating the commercialization of the company's novel compound, CYTALUX, the only FDA approved molecular imaging agent that illuminates lung and ovarian cancer as an adjunct during surgery, enabling surgeons to detect more cancer for resection.

Company Information

Company

On Target Laboratories

Location

West Lafayette, Indiana, United States

About

On Target Laboratories discovers and develops targeted intraoperative molecular imaging agents to illuminate cancer during surgery. Their molecular imaging technology, based on the pioneering work of Philip S. Low, PhD, Purdue University's Presidential Scholar for Drug Discovery and the Ralph C. Corley Distinguished Professor of Chemistry, is comprised of a near-infrared dye and a targeting molecule, or ligand, that binds to receptors overexpressed on cancer cells. The imaging agents illuminate the cancerous tissue, which may enable surgeons to detect more cancer that otherwise may have been left behind.

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