A female cyclist has been taken to hospital in a serious condition with suspected spinal injuries after a hit and run in Frankston.

The 46-year-old woman was knocked off her bike as she approached the driveway to a liquor store between Ross Smith Ave and Wells Street shortly before 11am.

A driver had suddenly veered into her path, from the middle lane, striking her and then speeding off, leaving her on the road, police said.

Bystanders unsuccessfully tried to chase the late-model white Holden commodore as it fled the scene. The car was seen driving off towards Key Street after turning into a car park.

Police and paramedics were called.

The woman, a Frankston resident, was taken to The Alfred with suspected spinal injuries.

Frankston detectives are appealing for the driver involved to come forward. They have seized the woman’s bike for forensic examination.

Anyone who witnessed the incident or who may have information on the whereabouts of the Holden or its driver is urged to contact Crime Stoppers on 1800 333 000 or www.crimestoppersvic.com.au