OnTarget Laboratories LLC, a Purdue Research Park of West Lafayette-based developer of an optical imaging technology, received $15m in funding.
Backers included the Pension Fund of the Christian Church and Tom Hurvis, founder of Old World Industries.
The company intends to use the funds to further advance clinical trials needed to optimize the technology platform.
Led by Martin Low, CEO, OnTarget Laboratories develops an optical imaging technology, which could help surgeons remove more cancerous tissue than previously possible. The technology – based on the over-expression of specific receptors on solid cancers – has been developed by Philip Low, the Ralph C. Corley Distinguished Professor of Chemistry and director of the Center for Drug Discovery at Purdue University and co-founder of OnTarget Laboratories.