A platinum-based cancer drug has been awarded the prestigious 2004 Prix Galien in France.

The award recognises the efficacy of Eloxatin and its startling impact on the treatment of advanced colorectal cancer since its inception.

Debiopharm, the independent drug-development company behind the product, collected the award.

The treatment was developed from a generation of platinum derivatives known as oxaliplatin, discovered by Professor Kidani in 1976 at Nagoya University in Japan.

The drug was then licensed-in and developed by Debiopharm for the treatment of advanced colorectal cancer.

Rolland-Yves Mauvernay, president and CEO of Debiopharm, hailed the award as a "significant achievement".

Oxaliplatin has been approved as an anticancer agent in over 60 countries worldwide and is currently marketed as Eloxatin in Europe and in the US, by Sanofi-Synthelabo, with whom Debiopharm signed a license agreement in 1994.

Eloxatin is now the leading therapy for the treatment of the disease, with sales of 824 million euros in 2003.