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3M AND THE LIPOSOME COMPANY ANNOUNCE OPTION AGREEMENT

       3M AND THE LIPOSOME COMPANY ANNOUNCE OPTION AGREEMENT
    PRINCETON, N.J., Dec. 16 /PRNewswire/ -- 3M (NYSE: MMM) and the Liposome Company, Inc. (NASDAQ: LIPO) announced today that 3M has purchased from the Liposome Company an option for certain non- intravenous applications of liposomal gentamicin.
    3M, a leader in the development and marketing of health care products, will evaluate the effectiveness of the Liposome Company's liposomal gentamicin for certain non-intravenous applications.  If the tests are successful, the companies will then negotiate a licensing agreement.
    Currently, TLC G-65, a liposomal gentamicin drug being developed by the Liposome Company, is in Phase II clinical trials for the treatment of Mycobacterium avium-intracellulare (MAI), a potentially life- threatening infection that attacks many AIDS patients.  TLC G-65 is administered intravenously in MAI treatment, and thus is not covered by the option agreement between 3M and the Liposome Company.
    "We believe that liposomal gentamicin may offer a good fit with our current product line and emphasis on value-added novel drug delivery systems," said Dr. David Sonstegard, sector vice president of research and development.  "We are looking forward to moving ahead rapidly to test the drug in our treatment models."
    "While the Liposome Company remains committed to develop TLC G-65 for the treatment of MAI in AIDS patients, and to retain marketing rights for this application, it has become apparent that liposomal gentamicin may have significant potential when administered via routes other than intravenous injection," said Charles A. Baker, chairman and chief executive officer of the Liposome Company.  "This option agreement is part of our ongoing efforts to maximize that potential, and we are very much looking forward to working with 3M."
    3M is one of the world's major manufacturers of health care products.  Based in St. Paul, Minn., the company offers more than 10,000 products for nurses, doctors, health care executives and other health professionals.  With annual sales of more than $2 billion in 1990, 3M's health care businesses are 100 times larger than they were 25 years ago.
    The largest company dedicated exclusively to the development of liposome and lipid-based pharmaceuticals, the Liposome Company selectively develops proprietary parenteral pharmaceuticals for the treatment and diagnosis of life-threatening illnesses.  The Liposome Company's most advanced products treat cancer and serious bacterial and fungal infections in immunocompromised patients, such as those with cancer and AIDS.
    -0-            12/16/91
    /CONTACT:  Anne Van Lent, senior vice president and chief financial officer of the Liposome Company, 609-452-7060, or Anne Greer of 3M Health Care, 612-736-0876/
    (MMM LIPO) CO:  The Liposome Company, Inc.; 3M ST:  New Jersey, Minnesota IN:  MTC SU: FC-OS -- NY022 -- 2421 12/16/91 10:15 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 16, 1991
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