OXiGENE Appoints Patricia Walicke, M.D., Ph.D. as Chief Medical Officer

OXiGENE Appoints Patricia Walicke, M.D., Ph.D. as Chief Medical Officer

Drug Development Veteran to Oversee Clinical Development

    WALTHAM, Mass.--(BUSINESS WIRE)--July 31, 2007--Regulatory News:

    OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN), a clinical stage,
biopharmaceutical company developing novel therapeutics to treat
cancer and eye diseases, has named Patricia Walicke, M.D., Ph.D., as
Chief Medical Officer and Vice President."Dr. Walicke's scientific expertise and extensive drug development
experience span the entire drug development process, from IND filings,
translational medicine, and Phase I work, through Phase II and III
studies and approval," said Richard Chin, M.D., President and Chief
Executive Officer of OXiGENE. "Dr. Walicke will be a tremendous asset
to OXiGENE as we continue to advance our drug development programs.""Vascular disrupting agents address a common pathophysiologic
mechanism and therefore have the potential to help people with a
variety of diseases. I am excited to build upon the strong foundation
of basic and clinical research already established at OXiGENE, and to
work with the company's talented team," said Dr. Walicke.

    Most recently, Dr. Walicke served as Vice President, Clinical and
Regulatory Affairs at Avidia, Inc., a subsidiary of Amgen, where she
was responsible for development of an IL-6 inhibitor based on a novel
protein technology. Prior to Avidia, Dr. Walicke served as
Vice-President, Clinical Development at Rinat Neurosciences, focusing
on translational medicine for an anti-NGF antibody for pain and an
anti-beta amyloid antibody for Alzheimer's disease. Avidia and Rinat
Neurosciences were initially privately-held companies which were
acquired by Amgen Corporation and Pfizer, Inc, respectively. Prior to
Rinat, she served in clinical development roles at Genentech, where
she played a key role in the successful development and registration
of Raptiva(R) and in the initiation of the Rituxan(R) program for
multiple sclerosis. Her experience also includes work on the multiple
sclerosis drug, Tysabri(R), while serving as Director, Clinical and
Regulatory Affairs at Athena Neurosciences, and provision of clinical
research services while serving as Director, Medical and Scientific
Services at Quintiles Pacific, Inc. Dr. Walicke has held full-time and
adjunct academic appointments at leading medical research institutions
and is a board certified neurologist. She earned her B.S. degree from
the Massachusetts Institute of Technology, her M.D. from Harvard
Medical School, and her Ph.D. from Harvard University. Dr. Walicke is
an inventor on two patents and an author on over 90 articles, book
chapters and abstracts.

    Concurrent with Dr. Walicke's appointment, Dr. Peter Harris will
step down from his role as the company's Chief Medical Officer.
Following a transition period, he will continue to actively serve as a
consultant to the company."Peter has made innumerable contributions to the company. Most
notably, he oversaw the design and initiation of the ZYBRESTAT(TM)
pivotal registration study and led the team that secured the Special
Protocol Assessment for the ZYBRESTAT pivotal study from the FDA,"
said Dr. Chin. "We look forward to Peter's continued contribution to
the company as a consultant."

    About OXiGENE, Inc.

    OXiGENE is a clinical-stage biotechnology company developing novel
small-molecule therapeutics to treat cancer and eye diseases. The
Company's major focus is the clinical advancement of drug candidates
that selectively disrupt abnormal blood vessels associated with solid
tumor progression and visual impairment. OXiGENE is dedicated to
leveraging its intellectual property position and therapeutic
development expertise to bring life saving and enhancing medicines to
patients.

    Safe Harbor Statement

    This news release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Any
or all of the forward-looking statements in this press release,
including with respect to the timing and results of its clinical
trials involving ZYBRESTAT and OXi4503, may turn out to be wrong.
Forward-looking statements can be affected by inaccurate assumptions
OXiGENE might make or by known or unknown risks and uncertainties.
Additional information concerning factors that could cause actual
results to materially differ from those in the forward-looking
statements is contained in OXiGENE's reports to the Securities and
Exchange Commission, including OXiGENE's Form 10-Q, 8-K and 10-K
reports. However, OXiGENE undertakes no obligation to publicly update
forward-looking statements, whether because of new information, future
events or otherwise. Please refer to our Annual Report on Form 10-K
for the fiscal year ended December 31, 2006 for a description of these
risks.

OXiGENE, Inc.
Shari Annes, 650-888-0902
Investor Relations, 781-547-5900