#United States #West Lafayette #On Target Laboratories #Bill Peters #CYTALUX

On Target Laboratories Appoints Bill Peters as New CEO

On December 10, 2024, On Target Laboratories, Inc., a prominent biotechnology firm known for creating intraoperative molecular imaging agents, announced the appointment of Bill Peters as its new president and chief executive officer. Peters, who has also joined the board of directors, succeeds Ben Lundgren, who has led the company since 2023 and has been integral to its growth over the past six years.

Scott Huennekens, the Executive Chairperson of the Board at On Target Laboratories, expressed gratitude towards Lundgren for his significant contributions, particularly in the commercialization of CYTALUX, the company’s flagship product. CYTALUX employs advanced technology to target cancerous tissue during surgical procedures, and under Lundgren’s guidance, the organization expanded its sales and marketing capabilities and formed valuable partnerships and relationships with clients.

Peters comes to On Target with over two decades of leadership experience within the medical technology industry. Before joining On Target, he served as the President of the Advanced Surgical and Advanced Endoscopic Technologies divisions at ConMed. At ConMed, he significantly contributed to the growth of the company, overseeing successful acquisitions, product launches, and positioning General Surgery as a major source of revenue.

Previously, Peters held senior roles at Mako Surgical Corporation before its acquisition by Stryker in 2013, and at Intuitive Surgical, plus he spent formative years in commercial leadership roles at Stryker Corporation. His extensive background in medical technology and his proven track record of facilitating growth makes him well-suited to steer On Target Laboratories toward success, stated Huennekens.

In a statement about his new role, Peters said, "I am both honored and excited to take on this leadership position at such an impactful company. The innovative work we're doing to provide patients with advanced technology and renewed hope drives me. I eagerly anticipate collaborating with our talented team to promote our mission—illuminating cancer intraoperatively for complete excision."

On Target Laboratories specializes in the discovery and development of targeted intraoperative imaging agents designed to enhance the visibility of cancer during surgical procedures. The technology they pioneered is based on the research of Philip S. Low, PhD, who is a recognized professor at Purdue University. Their system comprises a near-infrared dye that pairs with a ligand, which binds to excess receptors on cancer cells, thus lighting up the cancerous tissues during operation and assisting surgeons to identify potentially overlooked cancer masses.

The firm’s flagship product, CYTALUX, received FDA approval for ovarian cancer in November 2021, and subsequently obtained supplemental approval for lung cancer in December 2022. CYTALUX specifically targets folate receptors prevalent in various cancers, facilitating the illumination of malignant tissues under near-infrared light. A single intravenous dose is administered prior to surgery, empowering surgeons by enhancing their ability to visually identify additional cancers that may require removal.

As Peters steps into his new leadership role, the future looks bright for On Target Laboratories. His extensive experience, especially in driving growth and cultivating strategic relationships within the medical arena, positions him to enhance the operational capabilities of the company and continue delivering significant value to both patients and investors. This transition comes at a time of growth and innovation for On Target, reaffirming its commitment to leading advancements in cancer detection and treatment solutions. For further details, you can visit On Target Laboratories and CYTALUX.