Johnson & Johnson Gets in on On Target Laboratories’ $40M Funding Round

<p><img alt="Investor Silhouette 2" src="/getasset/39b02e2a-b28d-4247-8263-a8c719a7b9f6/" /><br /> <strong><a href="https://www.biospace.com/employer/538586/on-target-laboratories/">On Target Laboratories</a></strong>, a company developing cancer-imaging technology developed at Purdue University, has raised $40 million to advance the development of its compounds.</p> <p>The West Lafayette-based company said Wednesday the funding round was led by new investor JJDC Inc., the investment arm of Johnson &amp; Johnson, the biotech and consumer-goods giant.</p> <p>On Target said it will use the funding to further develop its lead imaging compound, OTL38, for use in detecting multiple cancers, including ovarian and lung, and to develop a second imaging compound for additional cancers.</p>