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THE LIPOSOME COMPANY REACQUIRES ALL RIGHTS TO FLAGSHIP ANTI-FUNGAL DRUG TLC ABLC SHOWING ENCOURAGING RESULTS IN OVER 350 PATIENTS

 PRINCETON, N.J., Nov. 20 ~PRNewswire~ -- All worldwide rights to TLC ABLC have been reacquired by The Liposome Company, Inc. (NASDAQ: LIPO) from the Bristol-Myers Squibb Company (NYSE: BMY). TLC ABLC has been tested in over 350 people, mostly AIDS and cancer patients, and has shown promising results in the treatment of several types of potentially life-threatening fungal infections. There are currently 34 clinical sites testing the drug in a Phase II~III trial in the U.S.
 "This is an extremely exciting event for The Liposome Company," said Charles A. Baker, chairman and chief executive officer of The Liposome Company. "TLC ABLC is the furthest advanced of our drugs in U.S. clinical trials, and we have data in a large number of patients indicating that ABLC will offer a major advance over currently available therapy for the treatment of life-threatening systemic fungal infections in cancer and other immunocompromised patients. We are glad that we have successfully concluded discussions with Bristol-Myers Squibb and are thrilled we have regained rights to one of the crown jewels of the Liposome Company."
 All clinical trials now underway will continue without interruption, and a large Phase III trial is expected to start in the U.S. during the first quarter of 1993. There will be a transition period until March 31, 1993, during which the development program will be run jointly by the two companies. A team with members of both companies has been established to ensure that the drug's development and registration program moves ahead rapidly, with a smooth transfer of responsibility.
 TLC ABLC, a proprietary new drug, consists of amphotericin B in a lipid complex. Conventional amphotericin B, without the lipid complex, is a broad-spectrum polyene antifungal agent which has been marketed for many years for the treatment of systemic fungal infections in patients who are immunocompromised, such as people with AIDS, cancer chemotherapy patients, and organ transplant recipients. While the old version of amphotericin B generally is considered the "gold standard" treatment against such infections as candidiasis, cryptococcal meningitis, and aspergillosis, its usefulness has been limited by its potential to cause side effects, especially kidney toxicity and anemia. By incorporating amphotericin B in a lipid complex, clinical results to date indicate that TLC ABLC can significantly reduce the risk of toxicity while maintaining or increasing efficacy. If TLC ABLC is confirmed to be safe and effective in Phase III testing, it could mark a major advance in the treatment of fungal infections in cancer and AIDS patients and in organ transplant recipients.
 TLC ABLC currently is in United States Phase II~III clinical trials for the treatment of systemic candidiasis in cancer patients receiving chemotherapy. In addition, about 90 patients with various types of fungal infections have been treated with TLC ABLC in a compassionate use program in the U.S. While this is not a controlled trial, some dramatic results have been seen in a number of these patients, all of whom had failed on conventional therapy.
 The Liposome Company licensed TLC ABLC to Bristol-Myers Squibb in 1986. In the intervening years, pharmaceutical development and manufacturing scale-up have been a co-development effort of the two companies, with Bristol-Myers Squibb assuming responsibility for the clinical trials and sales and marketing. Under the new agreement, the Liposome Company will assume all responsibility for the drug, including clinical development, manufacturing, and marketing. In July 1992, the Liposome Company acquired a 55,000 square foot parenteral drug manufacturing plant suitable for the commercial production of TLC ABLC. Work will begin on readying that plant for ABLC production immediately.
 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 diseases. It has four drugs 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, TLC D-99 is in Phase II for treatment of metastatic breast cancer, and TLC C-53 is in Phase I trials in preparation for studies in Adult Respiratory Distress Syndrome.
 -0- 11~20~92
 ~CONTACT: Anne M. Van Lent, senior vice president, or Edward G. Silverman, vice president - strategic planning~business development of The Liposome Company, Inc., 609-452-7060~
 (LIPO)


CO: The Liposome Company, Inc. ST: New Jersey IN: MTC SU:

AH-OS -- NY050 -- 3567 11~20~92 17:16 EST
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Date:Nov 20, 1992
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