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THE LIPOSOME COMPANY ACQUIRES FOREIGN RIGHTS FOR LIPOSOMAL PGE(1)

 The Liposome Company and Taisho Restructure Licensing Agreement;
 Taisho to Take Equity Position in The Liposome Company
 PRINCETON, N.J., Nov. 18 ~PRNewswire~ -- The Liposome Company, Inc. (NASDAQ: LIPO) and Taisho Pharmaceutical Co., Ltd. of Tokyo, Japan, have announced a restructuring of their contractual relationship regarding liposomal prostaglandin E(1) (PGE(1)) products, including TLC C-53, which has been jointly developed by the two companies and is currently in Phase I human clinical trials in the United States.
 The restructured agreement replaces an earlier agreement, signed in 1987, under which the Liposome Company retained rights to liposomal PGE(1) in North America and Taisho obtained rights in the rest of the world, including Japan and Europe. Under the new agreement announced today, the Liposome Company will acquire rights in Europe, Japan, and the rest of the world and will retain rights in North America. Taisho will receive a royalty on sales and an undisclosed number of shares of common stock of the Liposome Company as part of the restructuring of the contractual relationship.
 TLC C-53, a liposomal PGE(1), is currently in Phase I human clinical testing in the U.S. It has been shown to be effective in a preclinical model of Adult Respiratory Distress Syndrome (ARDS) in studies conducted at the Webb-Waring Lung Institute in Denver. ARDS is a life-threatening disorder that causes over 100,000 deaths each year in the U.S. There are currently no effective therapies.
 "We look forward to expanding our clinical trials for TLC C-53 into a worldwide effort," said Charles A. Baker, chairman and chief executive officer of the Liposome Company. "This new relationship also provides for unified worldwide positioning and marketing of the drug, assuming the clinical trials are successful. We also are very pleased with the confidence which Taisho has placed in us by accepting an equity position in our company. We look forward to continued cooperation between our companies."
 TLC C-53 is believed to be able to inactivate neutrophils, platelets, and endothelial cells, and to prevent them from adhering or sticking together. Neutrophils and platelets are cells that circulate in the blood. Endothelial cells line the walls of the blood vessels, including veins and arteries. When neutrophils and endothelial cells become activated and adhere to each other, a series of cellular and biochemical reactions is triggered, which can lead to tissue and organ damage, known as inflammation. This type of inflammation is thought to be one of the prime culprits in many serious illnesses, including ARDS. It has been hypothesized that by preventing neutrophil activation and migration, it may be possible to reduce injury caused by this inflammation. In addition, if TLC C-53 can prevent platelet aggregation, it may be useful in the treatment of vaso-occlusive diseases.
 A leading company dedicated exclusively to the development of liposome and lipid-based pharmaceuticals, the Liposome Company selectively develops proprietary parenteral pharmaceuticals for the treatment, prevention and diagnosis of life-threatening illnesses. TLC C-53 is the company's fourth drug in clinical trials. TLC ABLC is in Phase II~III studies for the treatment of systemic fungal infections, TLC G-65 is in Phase II trials in the U.S. and Phase III in Europe for the treatment of Mycobacterium avium-intracellulare (MAI) infections in AIDS patients, and TLC D-99 is in Phase II for treatment of metastatic breast cancer.
 -0- 11~18~92
 ~CONTACT: Anne M. Van Lent, senior vice president and chief financial officer of the Liposome Company, Inc., 609-452-7060~
 (LIPO)


CO: The Liposome Company, Inc.; Taisho Pharmaceutical Co., Ltd. ST: New Jersey IN: MTC SU: TNM

SM-OS -- NY010 -- 2202 11~18~92 09:29 EST
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Publication:PR Newswire
Date:Nov 18, 1992
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