On Target Laboratories Names Ben Lundgren as Chief Executive Officer

WEST LAFAYETTE, Ind., April 11, 2023 — On Target Laboratories, Inc., a privately held biotechnology company developing intraoperative molecular imaging agents to target and illuminate cancer during surgery, today announced the appointment of Ben Lundgren as President and Chief Executive Officer.  He has also been appointed to the board of directors.    Lundgren succeeds prior CEO, Christopher Barys, who led the company for nearly four years.

“We are grateful to Chris for his leadership of On Target Laboratories through the company’s first FDA approval for ovarian cancer and subsequent expanded indication in lung cancer and wish him great success in his next endeavors,” said Fritz French, Chairman of the Board of Directors at On Target.  “We welcome Ben into this role to lead the Company in its next phase of commercialization.  His extraordinary leadership capability and deep knowledge of our business position him well to lead On Target Laboratories successfully into the future.”

Lundgren brings twenty years of experience in the life sciences industry.  He has been with On Target Laboratories for four years, most recently serving as Executive Vice President of Commercial Operations.  During his tenure, he has played an essential leadership role in the organization, driving critical business development relationships, building a commercial organization, and developing the Company’s strategic roadmap. Prior to joining On Target Laboratories, Lundgren held various commercial leadership roles over fourteen years within Johnson & Johnson, across both Janssen Pharmaceuticals and Ethicon in the US and Asia.  Prior to joining Johnson & Johnson, Ben worked at Bain & Company, where he served clients in a diverse set of industries in the United States, Latin America, and Europe. Ben received a BS in Accounting from Brigham Young University and holds an MBA in Marketing and Finance from the Wharton School of Business.

“I am grateful to the board for the opportunity to lead this Company.  The work we do at On Target Laboratories has the potential to transform how surgeons detect and resect cancer,” said Lundgren. “We have an incredible team working tirelessly on this mission and I look forward to continuing to serve our customers and patients through advancing our company’s pursuit to create a brighter future for those fighting cancer.”

About Intraoperative Molecular Imaging

To date, there have been limited ways for surgeons to confidently assess the location and full extent of cancerous tissue while operating. Intraoperative Molecular Imaging (IMI) is an emerging category of technology for surgical oncology in which targeted imaging agents are injected into patients to highlight cancer cells making them visible during surgery.

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.

Brand Strategy By Assembly
Developed By Alchemy + Aim