NeoRx says that its new platinum product for the treatment of colorectal cancer has performed well in initial testing.

The firm said that its new NX 473 treatment proved effective when tested in a study published in the November issue of "Investigational New Drugs".

Karen Auditore-Hargreaves, president and chief operating officer of NeoRx, said the study offered "compelling data" of the efficacy of the new NX 473 product.

"These data extend earlier published data confirming the activity of NX 473 in platinum-resistant colorectal cell lines and further support our plans to advance this product candidate into clinical trials in colorectal cancer in 2005."

NX 473 was designed as a potential platinum alternative to those treatments that have resulted in side effects when tested with certain patients.

The compound has now won clearance from the US Food and Drug Administration (FDA), with further testing expected ahead of development.