OXiGENE Appoints Dr. Peter J. Langecker as Chief Development Officer

Seasoned Industry Executive With More Than 20 Years of Oncology-Focused Drug
Development Experience 


WALTHAM, Mass., June 17, 2009 (GLOBE NEWSWIRE) -- OXiGENE, Inc., a
clinical-stage biopharmaceutical company developing novel therapeutics to treat
cancer and eye diseases, announced the appointment of Peter J. Langecker, M.D.,
Ph.D., as Executive Vice President and Chief Development Officer. Dr. Langecker
will oversee the development of OXiGENE's drug candidates, ZYBRESTAT(tm) for
oncology, ZYBRESTAT for ophthalmology, and OXi4503. Dr. Langecker is scheduled
to begin his position with OXiGENE on June 29, 2009. 

Dr. Langecker has more than 20 years of experience in successfully developing
both drugs and biological products. Among the approved oncology drugs he has
had a role in developing are FORMESTAN(r), LENTARON(r), TEMODAL(r), INTRON-A(r)
for adjuvant treatment of melanoma, EULEXIN(r) and BEXXAR(r). Dr. Langecker
joins OXiGENE from DURECT Corporation where he served as Chief Medical Officer.
He received his medical degree and his doctorate in medical sciences from the
Ludwig-Maximilians University in Munich and trained in hematology and oncology.
Dr. Langecker was formerly based in Switzerland where he supported development
of early aromatase inhibitors and worked on a variety of other products for
CIBA GEIGY (now Novartis). His industry experience in the United States
includes key roles with Schering-Plough, Coulter Pharmaceuticals, SUGEN, Inc.,
and Intarcia Therapeutics. 

"Because of my prior involvement in the development of anti-angiogenic
therapies, I am particularly excited to be joining OXiGENE. Their leading
position in the field of Vascular Disrupting Agents (VDAs), which represent an
exciting potential therapy in the field of oncology, as well as the breadth of
their product pipeline and the promising results ZYBRESTAT and OXi4503 have
shown to date in a variety of tumor types make this role particularly
attractive. I believe VDAs have the potential to further advance the evolution
of anti-vascular therapies and deliver increased clinical benefit to patients,
as was indicated by the Phase 2 platinum-resistant ovarian cancer data
presented at this year's ASCO congress," said Dr. Langecker. "I am looking
forward to helping guide these product candidates through the development
process as I believe they will be valuable additions to the oncology
armamentarium. I'm very much looking forward to working with OXiGENE's talented
team on the development of these potentially first-in-class and best-in-class
drug candidates." 

"We are delighted that Peter is joining the OXiGENE management team at this
exciting time in our company's evolution," said John Kollins, Chief Executive
Officer for OXiGENE. "Peter is among the most accomplished and respected drug
development executives in the industry, and we anticipate that his wealth of
experience in successfully managing international oncology trials and expertise
in dealing with regulatory agencies will be of tremendous value to OXiGENE as
we advance our VDAs through later stages of development. As well, we believe
the respect that Peter enjoys within the oncology community and the
pharmaceutical industry will also greatly strengthen our partnering
initiatives." 

About ZYBRESTAT

ZYBRESTAT (fosbretabulin) is currently being evaluated in a pivotal
registration study as a potential treatment for anaplastic thyroid cancer (ATC)
under a Special Protocol Assessment agreement with the U.S. Food and Drug
Administration (FDA). A Phase 2 study in platinum-resistant ovarian cancer was
recently completed, and a Phase 2 study in non-small cell lung cancer is
ongoing. OXiGENE believes that ZYBRESTAT is poised to become the first
therapeutic product in a novel class of small-molecule drug candidates called
vascular disrupting agents (VDAs). Through interaction with vascular
endothelial cell cytoskeletal proteins, ZYBRESTAT selectively targets and
collapses tumor vasculature, thereby depriving the tumor of oxygen and causing
death of tumor cells. In clinical studies in solid tumors, ZYBRESTAT has
demonstrated potent and selective activity against tumor vasculature, as well
as clinical activity against ATC, ovarian cancer, and various other solid
tumors. In clinical studies in patients with forms of macular degeneration,
intravenously-administered ZYBRESTAT has demonstrated clinical activity, and
the Company is working to develop a convenient and patient-friendly topical
formulation of ZYBRESTAT for ophthalmological indications under the strategic
drug development partnership it established with Symphony Capital in October
2008. 

About OXi4503

OXi4503 (combretastatin A1 di-phosphate / CA1P) is a dual-mechanism vascular
disrupting agent (VDA) that is being developed in clinical studies for the
treatment of solid tumors. Like its structural analog, ZYBRESTAT, OXi4503 has
been observed to block and destroy tumor vasculature, resulting in extensive
tumor cell death and necrosis. In addition, preclinical data indicate that
OXi4503 is metabolized by oxidative enzymes (e.g., tyrosinase and peroxidases),
which are elevated in many solid tumors and tumor white blood cell infiltrates,
to an orthoquinone chemical species that has direct cytotoxic effects on tumor
cells. Preclinical studies have shown that OXi4503 has (i) single-agent
activity against a range of xenograft tumor models; and (ii) synergistic or
additive effects when incorporated in various combination regimens with
chemotherapy, molecularly-targeted therapies (including tumor-angiogenesis
inhibitors), and radiation therapy. OXi4503 is currently being evaluated as a
monotherapy in a Phase 1 dose-escalation study in patients with advanced solid
tumors, and in a Phase 1b/2a study in patients with solid tumors with hepatic
involvement. . OXiGENE is developing OXi4503 under the Symphony Capital
partnership. 

About OXiGENE

OXiGENE is a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer and eye diseases. The Company's major focus is
developing vascular disrupting agents (VDAs) that selectively disrupt abnormal
blood vessels associated with solid tumor progression and visual impairment.
OXiGENE is dedicated to leveraging its intellectual property and therapeutic
development expertise to bring life-extending and life-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 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, including, but not
limited to, the impact of VDAs on the treatment of a variety of tumor types,
and their potential to further advance the evolution of anti-vascular therapies
and deliver increased clinical benefit to patients, and the Company's ability
to advance any of its VDAs to a later stage of development. 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 reports
on Form 10-K, 10-Q and 8-K. 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, 2008. 

CONTACT: OXiGENE, Inc.
         Investor and Media Contact:
         Michelle Edwards, Investor Relations
         medwards@oxigene.com
         650-635-7006