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LIPOSOME COMPANY COMPLETES STOCK OFFERING OF 3 MILLION SHARES

 LIPOSOME COMPANY COMPLETES STOCK OFFERING OF 3 MILLION SHARES
 PRINCETON, N.J., March 13 /PRNewswire/ -- The Liposome Company, Inc. (NASDAQ: LIPO), announced today that it has successfully completed an offering of 3 million shares of common stock at a price of $13.75 per share, raising gross proceeds of $41.25 million, with net proceeds to the company of $38.6 million. In addition, the company has granted the underwriter an option to purchase up to an additional 450,000 shares to cover over-allotments, if any. The offering was underwritten by Hambrecht & Quist Incorporated. The closing is expected to occur on March 20, 1992.
 Proceeds from the offering are expected to be used for the development and clinical testing of the company's self-funded products, including TLC G-65 and TLC C-53. A portion of the proceeds may be used to expand the company's research activities and manufacturing facilities, to develop its marketing and distribution capabilities, and for other general corporate purposes.
 TLC G-65 is a proprietary, injectable liposomal aminoglycoside antibiotic, which is currently in Phase II clinical studies for the treatment of Mycobacterium avium-intracellulare (MAI) in AIDS patients. MAI is the most common systemic infection in people with AIDS, seen in up to 50 percent of AIDS patients. There are currently no drugs approved by the Food and Drug Administration for the treatment of disseminated MAI. Early Phase II results
with TLC G-65 demonstrated that the drug was active and well tolerated. An additional safety and pharmacology study examining a more intensive dosing regimen has been completed and demonstrated good tolerability. A multicenter Phase II trial using the more intensive dosing regimen recently began in the United States. In addition, Phase III trials using a multi-drug regimen are expected to start in Europe in 1992. The Liposome Company owns all rights to TLC G-65 and plans to market the drug itself in the United States.
 TLC C-53 is a proprietary, injectable liposomal prostaglandin E1 (PGE1), which is being developed as a cell adhesion antagonist. It appears to function as a unique "universal off switch" that is believed to prevent platelets, neutrophils and endothelial cells from being "turned on," and may also deactivate these cells after they have been "turned on," regardless of what stimulatory factors are present. When these cells are "turned off" or deactivated, they should not adhere to the cells to which they normally would, following stimulation. By so doing, it appears that TLC C-53 stops the cell adhesion which can lead to a variety of inflammatory and vaso-occlusive conditions including Adult Respiratory Distress Syndrome (ARDS), restenosis following angioplasty, reperfusion injury during heart attacks, sepsis/trauma syndrome, and others. Positive results have been seen in animal experiments in models of ARDS and AMI with TLC C-53. The Liposome Company plans to start clinical trials with TLC C-53 in 1992.
 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.
 -0- 3/13/92
 /CONTACT: Anne Van Lent, senior vice president and chief financial officer of the Liposome Company, 609-452-7060/
 (LIPO) CO: The Liposome Company Inc. ST: New Jersey IN: MTC SU: OFR


GK-TB -- NY015 -- 7700 03/13/92 09:44 EST
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Date:Mar 13, 1992
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