A new platinum compound is being created to help combat cancer.

Oncology-focused firm Debiopharm and drug delivery business NanoCarrier are joining forces to develop the new Medicelle product.

The technology has already proved effective in preliminary animal experiments, with results showing Medicelle leads to improved efficacy and toxicity profiles.

Under the deal, Debiopharm will provide funding for the whole of the product's development and NanoCarrier will be given money at different stages of development and royalties when the product is marketed.

In addition, Debiopharm will be able to obtain a license in a DACH-platin-PEG-polyglutamic acid (DACH Platin Medicelle) from NanoCarrier, for use in oncology.

According to Rolland-Yves Mauvernay, president and CEO at Debiopharm, the product will allow the firm a better chance to "bring a better targeted, more efficacious, and safer drug to cancer patients".

Medicelle works by forming micelles, including hydrophilic-hydrophobic block co-polymers that allow the chemical entrapment of various drugs into the micelles.

Once the drugs are in the micelles they are slowly released into the organism.

The product follows the recent success of GPB Biotech's platinum based prostate cancer treatment.

A number of medical products use platinum or platinum compounds to help fight cancer.