On Target Adds to BoardPosted: Updated:
Purdue Research Park-based On Target Laboratories has added two life sciences leaders to its organization. Indiana University chemistry professor Richard DiMarchi and Mayo Clinic Center for Individualized Medicine Director Franklyn Prendergast will join the company's board of directors.
May 5, 2014
West Lafayette, Ind. -- On Target Laboratories LLC, whose optical imaging technology could help surgeons remove more cancerous tissue during surgical procedures than previously possible, announced Monday (May 5) that Richard DiMarchi, Ph.D. and Franklyn G. Prendergast, M.D., Ph.D. have joined its board of directors.
DiMarchi is the Standiford H. Cox Distinguished Professor of Chemistry and the Linda and Jack Gill Chair in Biomolecular Sciences at Indiana University. He is co-founder of three biotech startups named Ambrx, Marcadia and Calibrium. He also is an adviser to several pharmaceutical companies and venture funds. He held multiple leadership roles at Lilly Research Labs where he retired as group vice president, a role in which he provided leadership in biotechnology, endocrine research and product development.
Prendergast is the director for the Mayo Clinic Center for Individualized Medicine and is the Edmond and Marion Guggenheim Professor of Biochemistry and Molecular Biology at the Mayo Medical School. He is a member of the board of directors of Eli Lilly and Co. Previously he was the director of the Mayo Clinic Comprehensive Cancer Center and chair of research of the Mayo Foundation for Medical Education and Research. He also has served on the board of trustees and the executive committee of the Mayo Foundation and as a presidential appointee to the National Cancer Advisory Board. He is a Rhodes scholar and has numerous publications to his credit.
On Target Laboratories, based in the Purdue Research Park of West Lafayette, is developing technology discovered by Philip Low, the Ralph C. Corley Distinguished Professor of Chemistry at Purdue University and director of the Purdue University Center for Drug Discovery. Low also is a co-founder of On Target Laboratories.
"Having Frank and Richard, my distinguished and experienced colleagues, on our board of directors will provide us with valuable guidance for the development of our novel technology for the benefit of cancer patients," he said.
Martin Low, CEO of On Target Laboratories, said the experience-driven direction from DiMarchi and Prendergast could help guide On Target Laboratories toward future success.
"Frank and Richard bring invaluable insights into the science and business of biotechnology development," he said. "Our team of committed individuals will benefit tremendously from this."
On Target Laboratories received $15 million in funding in March to enable further development of its technology, including clinical trials.
About On Target Laboratories LLC
On Target Laboratories 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, if proven successful, could be used by doctors, including surgeons, worldwide to better diagnose and treat a wide range of diseases from cancer to inflammation-related disorders.
About Purdue Research Park
Purdue Research Park, with four locations across Indiana, has the largest university-affiliated business incubation complex in the country. The park network is home to about 240 companies that employ about 4,500 people and are located in West Lafayette, Indianapolis, Merrillville and New Albany.
Source: Purdue University