Researchers are developing a new drug against colon and ovarian cancer that is nearly 50 times as effective, but less toxic, than the chemo medication now commonly used.

The experimental drug, known as FY26, is based on a rare precious metal osmium and is able to shut down a cancer cell by exploiting weaknesses inherent in its energy generation.

UK researchers say the drug could be cheaper to produce, less harmful to healthy cells than existing treatments, and has been shown to be more active against cancer cells than a commonly used existing medication, Cisplatin.

Cisplatin, a platinum-based drug, has strong side effects that limit its use.

Scientists say the new drug works by forcing cancer cells to use mitochondria, the "power center" of a cell, to generate the energy necessary to function. While healthy cells use mitochondria to generate energy, cancer cells contain defective mitochondria that are incapable of sustaining the cell's energy requirements.

Cancer cells are able to switch from using their defective mitochondria to using metabolic activity within their cytoplasm, the substance between the cell wall and its nucleus, to generate energy.

But FY26 stops this switching ability, which causes the cancer cell to die.

The researchers have been awarded a grant by a major British non-profit institute to continue working on the drug.