On Target Laboratories Secures $21 Million for Development and Commercialization of Pafolacianine Sodium Injection

– On Target Laboratories secured $21m in an expanded Series B funding round.
– The funds will support the continued development and commercialization of the company’s novel compound, pafolacianine sodium injection.
– The funding was wholly backed by existing investors Johnson & Johnson Innovation – JJDC, Inc., H.I.G. Capital, Elevate Ventures, The Hurvis Group, and 3B Future Health Fund (formally Helsinn Investment Fund).
– The funds will drive the commercialization of the company’s first indication in ovarian cancer.
– The funding will also be used to complete the ELUCIDATE Trial, a Phase 3 clinical trial evaluating the use of pafolacianine sodium injection to intraoperatively identify lung cancer in real-time.