West Lafayette, IN – March 24, 2026 – On Target Laboratories is proud to have been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2026. This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. Alongside the World’s 50 Most Innovative Companies, Fast Company recognizes 720 honorees across 59 sectors and regions. On Target Laboratories ranked #5 in the Medicines, Therapeutics, and Pharmaceuticals category.
“We are deeply honored to receive this recognition from Fast Company, one of the most innovative media brands in our country. At On Target, our entire team is united by a single mission — to help surgeons see more cancer for removal. This award is a reflection of our tireless dedication to improving and saving the lives of the patients we serve. Our solution, CYTALUX®, is transforming how cancer surgery is performed, and we are only just beginning. We will continue to push the boundaries of what’s possible in intraoperative molecular imaging in the pursuit of ensuring no cancer goes unseen,” said Bill Peters, Chief Executive Officer, On Target Laboratories.”
The need for CYTALUX has never been more critical. As the first and only FDA-approved targeted molecular imaging agent capable of illuminating lung and ovarian cancer in real-time during surgery, it addresses an urgent unmet need. Lung cancer alone accounts for nearly 235,000 new diagnoses and 125,000 deaths annually in the U.S. — and despite surgical intervention, up to 55 percent of patients experience recurrence. Ovarian cancer presents an equally sobering challenge, standing as the deadliest gynecologic cancer among women.
CYTALUX usage is gaining significant momentum across the country. Since commercialization in 2024, it’s been used to treat more than 2,000 patients in states that cover 85 percent of the U.S. population. As the first to utilize small molecule technology to target unique characteristics of cancer cells, CYTALUX helps the surgeon in differentiating malignant from healthy tissue. In clinical trials for lung cancer, CYTALUX helped surgeons see beyond what the naked eye could detect—revealing hidden lesions in one out of five patients and identifying previous unknown cancer lesions in nearly 10%. True innovation for better patient care.
In addition to identification of lung cancer, a CYTALUX clinical trial demonstrated the ability to visualize 18 different lesion types of metastatic cancer to the lung (most common organ cancer will metastasize to). On Target Laboratories has ongoing studies which look at additional cancer types with a goal of expanding indications and bringing additional molecules to market.
The World’s Most Innovative Companies is Fast Company’s hallmark franchise and one of its most anticipated editorial efforts of the year. To determine honorees, Fast Company’s editors and writers review companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world.
“Our list of the Most Innovative Companies is about spotlighting organizations that don’t just adapt to change—they drive it,” said Brendan Vaughan, editor-in-chief of Fast Company. “The companies we honor this year are redefining what leadership looks like in 2026, pairing bold ideas with measurable impact and turning breakthrough innovation into real-world value. They are setting the pace for their industries and offering a blueprint for what sustained innovation can achieve.”
The full list of Fast Company’s Most Innovative Companies honorees can now be found at fastcompany.com. It will also be available on newsstands beginning March 31, 2026.
Fast Company will host the Most Innovative Companies Summit and Gala for honorees on May 19 in New York City. The summit features a day of inspiring content, followed by a creative black-tie gala including networking, a seated dinner, and an honoree presentation.
About On Target Laboratories, Inc.
On Target is a biotech company that discovers and develops intraoperative molecular imaging agents to illuminate cancer so it can be eliminated. Their mission is to illuminate cancer in real time, ensuring unprecedented visibility for surgeons and improved outcomes for patients. Their vision is to light the way in every procedure, so no cancer goes unseen.
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 and to view full Prescribing Information visit www.ontargetlabs.com and www.cytalux.com.
ABOUT FAST COMPANY
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