H.I.G. Capital News
On Target Laboratories Announces Publication Supporting Use of OTL78 to Highlight Prostate Cancer Lesions
WEST LAFAYETTE, IN - October 15, 2018 - On Target Laboratories, Inc., a privately held biotechnology company that is developing tumor-targeted fluorescent dyes to improve cancer surgery, announced today the publication of a study evaluating the effectiveness of On Target Laboratories' drug, OTL78, in highlighting malignant lesions during radical prostatectomies. The article titled "Evaluation of Novel Prostate-Specific Membrane Antigen-Targeted Near-Infrared Imaging Agent for Fluorescence-Guided Surgery for Prostate Cancer" was published in Clinical Cancer Research. The study found that OTL78 bound to prostate-specific membrane antigen (PSMA) positive tumors with high affinity and specificity and can be imaged as soon as 1 hour after administration.
The publication is available at: http://clincancerres.aacrjournals.org/content/early/2018/09/08/1078-0432.CCR-18-0803
"OTL78 has the potential to become the first PSMA-targeted imaging agent for use in radical prostatectomies," said Sumith Kularatne, Ph.D., Executive VP of Research and Development of On Target Laboratories. "As minimally invasive surgeries become more popular, surgeons are relying more and more on their sight alone to detect diseased tissue. Using a fluorescent imaging probe with high affinity and specificity to prostate cancer allows surgeons to effectively remove all the malignant tissue, directly impacting patient survival outcomes."
The company also announced that it has received a $1.8 million Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). The competitive Phase II grant was awarded to support pre-clinical development of OTL388 and OTL489 programs.
"This support and recognition from the NIH allows us to continue driving the development of our imaging compounds," said Martin Low, CEO of On Target Laboratories. "We are building momentum toward creating an array of drugs that help surgeons locate and excise all the diseased tissue. OTL78 is poised to be our next drug candidate in the clinic after OLT38, which is currently being tested in ovarian and lung cancer."
About On Target Laboratories, Inc.
On Target Laboratories Inc., is in the business of discovering, developing and commercializing small molecules that, when conjugated with fluorescent dyes, target and illuminate specific cancerous cells and other diseased tissue. These conjugates can be used by doctors, including surgeons, worldwide to better diagnose and treat a wide range of diseases from cancer to inflammation-related disorders. OTL38 is currently under clinical development for use in ovarian and lung cancer surgery. For more information visit www.ontargetlaboratories.com.