Biotechnology investor David Blech has reduced his stake inLiposome Technology Inc., but still appears to be the company'slargest shareholder. LTI said that several charitable trusts,which name Blech as beneficiary, recently sold 800,000 sharesof its stock. The sale leaves the New York investor with 2.55million shares, or 13.7 percent, of the Menlo Park, Calif.,company's common stock. Blech acquired the shares in January1990. Liposome stock (NASDAQ:LTIZ) closed Mondayunchanged at $9.25 per share.

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