The compound, luminol glows blue when it encounters the hemoglobin in red blood cells.
Researchers at Washington University School of Medicine in US have shown that they can trick malaria-infected red blood cells into building up a volatile chemical stockpile that can be set off by luminol's glow.
To achieve this, the scientists gave infected red blood cells an unusual amino acid and used luminol's glow to trigger the chemical, killing the parasite.
"The light that luminol emits is enhanced by the antimalarial drug artemisinin," said senior author Daniel Goldberg, professor of medicine and molecular microbiology at Washington University.
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The World Health Organisation (WHO) estimated that in 2013, malaria infected 198 million people and killed 584,000, the majority of whom were African children.
The new therapy would have an advantage over current malaria treatments, which have become less effective as the parasite mutates, the researchers said.
WHO recommends that artemisinin - the most commonly used antimalarial drug - only be used in combination with other treatments because the parasite is becoming resistant to it.
The new approach targets proteins made by human red blood cells, which the parasite can't mutate.
They wanted to better understand how the parasite gets hold of heme, non protein part of hemoglobin that carries oxygen. Heme is essential to the parasite's survival.
The malaria parasite opens an unnatural channel on the surface of red blood cells. When scientists put an ingredient of heme - an amino acid - into the solution containing the cells, the amino acid entered the cells through the channel and started the heme-making process.
The process led to a buildup of a molecule called protoporphyrin IX. When exposed to light, this molecule emits dangerous, chemically reactive compounds known as free radicals, killing the parasites.
"All of these agents - the amino acid, the luminol and artemisinin - have been cleared for use in humans individually, so we are optimistic that they won't present any safety problems together," said Goldberg.
"This could be a promising new treatment for a devastating disease," Goldberg added.
The study was published in the journal eLife.