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Lipoxen PLC (XEN)

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Monday 18 December, 2006

Lipoxen PLC

Clarification announcement

Lipoxen PLC
18 December 2006

                                  Lipoxen PLC

                          ('Lipoxen' or 'the Company')

                       Clarification on Baxter Agreement



London, UK, 18 December, 2006 - Further to the announcement made on 15 December
2006 by Lipoxen PLC (AIM: LPX) that the Company had entered into an exclusive
worldwide development and licence agreement with a subsidiary of Baxter
International Inc., potentially worth up to a total of $75 million, plus
royalties on future product sales, the Company would like to clarify that in
addition to the clinical and regulatory milestones, the payments to Lipoxen
under the agreement are also conditional upon sales milestones being achieved.


Enquiries

Lipoxen PLC
M. Scott Maguire, CEO                                  +44 (0)20 7691 3583

Citigate Dewe Rogerson                                 +44 (0)20 7638 9571
David Dible/Yvonne Alexander

Grant Thornton Corporate Finance                 +44 (0)20 7383 5100
Graeme Thom







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