The asbestos-related cancer has no cure and is relatively common in Australia with about 650 new cases a year.
The possibility of a clinical trial is welcome news for patients.
Carol Klintfalt from Hornsby Heights in New South Wales was diagnosed with malignant mesothelioma in 2006 and has so far defied the odds, but she is keen to be on the new trial.
"Last year I had nine cycles of chemotherapy and at the end, the chemo wasn't working any more. This trial is a matter of life or death to me. To put it plainly, I am very excited and hope I am on the trial," Ms Klintfalt said.
Following a three-year study into the genetic characteristics of mesothelioma, researchers from the Asbestos Diseases Research Institute (ADRI) found the growth of tumour cells could be decreased with a synthetic version of genetic material targeted at the tumours.
Called TargomiRs, the experimental therapy involves "magic bullet" technology - mini-cells invented to transport the drug to the tumour area.
The treatment has proven remarkably effective in studies on mice.
The Director Asbestos Diseases Research Institute is hoping this treatment could be the 'magic bullet' for sufferers.
The trial is expected to start by the end of the year.
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