Many tumours contained areas that were well-oxygenated, and these were hard to treat with traditional radiotherapy and chemotherapy approaches, as well as immunotherapies.
"However, CP-506 becomes active in these areas and eradicates these treatment resistant areas very efficiently," Patterson said.
Its development has already been ranked by the European Commission as among the top eight per cent of all European projects.
A presentation on it is due to be given at the American Association of Cancer Research's annual meeting in Chicago next month.
Smaill and Patterson are now working with Convert on developing ways to genetically predict which patients may benefit the most from the drug.
They said CP-506 represented many years of hard work by a dedicated team of New Zealand research scientists, and its success was made possible by support from the Health Research Council and BioPharma Translational Research Initiative.
"We are grateful to these funding agencies for sharing our vision of bringing life changing therapies to terminally-ill cancer patients," Patterson said.
"We hope to work with Convert to bring future CP-506 clinical trials to New Zealand as soon as possible."