Onivyde, also known as pegylated liposomal irinotecan, is a formulation of the chemotherapy drug irinotecan, which is encapsulated within liposomes. This liposomal encapsulation enhances the delivery and efficacy of the drug, particularly in treating pancreatic cancer. The innovative use of nanotechnology in Onivyde's formulation allows for a more targeted delivery, reducing side effects and improving therapeutic outcomes.