On Target Laboratories Appoints Bill Peters as CEO

WEST LAFAYETTE, Ind., Dec. 10, 2024 /PRNewswire/ -- On Target Laboratories, Inc., a leading biotechnology company specializing in the development of intraoperative molecular imaging agents to target and illuminate cancer during surgery, today announced the appointment of Bill Peters as president and chief executive officer.  Peters has also joined the company's board of directors.  He succeeds Ben Lundgren, who served as CEO since 2023 and was with the company for nearly six years.

"Ben has been a pivotal force in advancing the commercialization of CYTALUX, building our Sales and Marketing organization, establishing strategic partnerships, and forging key customer relationships. We are deeply grateful for his leadership," said Scott Huennekens, Executive Chairperson of the Board at On Target Laboratories. "We are excited to welcome Bill as our new CEO. His impressive track record of driving success at large organizations uniquely positions him to scale On Target and continue delivering value for both our customers and investors."

Peters brings more than 20 years of leadership experience in the medical technology sector, including a decade of executive leadership at ConMed. Most recently, he served as President of the Advanced Surgical and Advanced Endoscopic Technologies businesses in ConMed's General Surgery division, where he played a crucial role in driving a significant portion of the company's sales and profit growth.  Under his leadership, General Surgery completed three successful acquisitions, launched innovative new products and emerged as the primary growth engine for the company. Prior to ConMed, Peters held senior commercial roles at Mako Surgical Corporation, which was acquired by Stryker in 2013, and at Intuitive Surgical. Earlier in his career, he also held sales leadership positions at Stryker Corporation. Peters holds a Bachelor of Business Administration in Finance from Ohio University.

"I am both honored and excited to take on this leadership role at such an impactful company," said Peters. "The work we are doing to provide patients with groundbreaking technology and renewed hope is incredibly inspiring. I look forward to working alongside our exceptional team to advance our mission to illuminate cancer intraoperatively so it can be removed completely."

About On Target Laboratories, Inc.

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.

CYTALUX, the company's first product, received FDA approval of a New Drug Application for ovarian cancer in November 2021 and a supplemental New Drug Application for lung cancer in December 2022. CYTALUX targets the folate receptors commonly found on many cancers, binds to the cancerous tissue, and illuminates under near-infrared light. A single dose of the agent is administered via intravenous infusion prior to surgery and assists surgeons in visually identifying additional cancerous tissue to be removed during the operation. For more information, visit www.ontargetlabs.com and www.cytalux.com.

Media Contact:
On Target Laboratories, Inc.
Jessica Todd
513-325-5706
[email protected]

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SOURCE On Target Laboratories, Inc.