The U.S. Food and Drug Administration has agreed to review an experimental drug to treat colon cancer created by Thousand Oaks-based biotechnology company Amgen.

Called panitumumab, the antibody was submitted for the treatment of metastatic colorectal cancer in patients in which chemotherapy has failed. The drug interferes with the epidermal growth factor receptor of patients, affecting how cancer cells grow, mutate and survive.

It is being evaluated in clinical trials both by itself and in combination with other agents to treat a variety of cancers.

The FDA gave Amgen priority review, a fast track reserved for applications that would make significant advancements over existing therapies. The designation means FDA action could come within six months, as opposed to the typical 10-month review process.

Colorectal cancer is the third most common cancer diagnosed in the United States.