Before being released on the Nintendo 64, Mission Impossible was in development for the Super Nintendo and Mega Drive / Genesis, but soon the 16 bit versions were cancelled, to shift resources to the Ultra 64 one. The game was going to be similar to Flashback by Delphine Software, as a side-scrolling action game with puzzles and gun fights. Currently we dont know which studio was working on Mission Impossible 16 Bit, but it should have been published by Ocean, as the N64 version.
If you have more info or screens about this lost game, please let us know!
Thanks to Robert Seddon and Celine for the scans! (Magazines: Joypad #44, Top Consoles #4, Console Plus #45)