Provided herein are liposomal formulations containing saponin and optionally, a lipopolysaccharide. Also provided herein are pharmaceutical compositions and vaccine compositions comprising the liposomal formulations and an antigen. The pharmaceutical compositions and vaccine compositions are capable of eliciting or enhancing of an immune response, for example, for vaccine or therapeutic uses. Compositions and methods related to making the liposomal formulations and using the liposomal formulations for eliciting or enhancing an immune response are also provided.
