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Press Release

Apr 13, 2005
OXiGENE Announces Presentations on Lead Vascular Targeting Agents at American Association of Cancer Research
OXiGENE Announces Presentations on Lead Vascular Targeting Agents at American Association of Cancer Research Seven Poster Presentations on CA4P and OXi4503 at AACR

WALTHAM, Mass.--(BUSINESS WIRE)--April 13, 2005--OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN) today announced the topics and schedules for seven poster presentations on OXiGENE compounds at the 96th Annual Meeting of the American Association of Cancer Research in Anaheim California, taking place April 16-20, 2005.

The presentations and times when OXiGENE's lead clinical candidates, CA4P and OXi4503 will be discussed are:

Combretastatin-A-4-P induced hypertension can be controlled with conventional antihypertensive therapy in a rat model without compromising the reduction in tumor blood flow; Honess, et al

Monday April 18, 2005; 1-5pm PT

Lack of clastogenicity of Combretastatin A-4 (CA4P) - microtubule destabilizing agent, in human peripheral blood lymphocytes in vitro; Sadhu, et al

Monday April 18, 2005; 1-5pm PT

Therapeutic effects of the antivascular agent Combretastatin A-1 phosphate (OXi4503) on orthoptic and colorectal tumors in nude mice; Pedley, et al

Monday April 18, 2005; 1-5pm PT

Effects of the vascular disrupting agent Combretastatin A-4 phosphate and radiation on the endothelial cytoskeleton and on endothelial monolayer permeability; Kanthou et al

Monday April 18, 2005; 1-5pm PT

The influence of different isoforms of VEGF-A on tumor vasculature maturation and response to the vascular disrupting agent, Combretastatin A-4 phosphate; Tozer et al

Tuesday April 19, 2005; 8:00am-12:00pm PT

Tumor physiological response to anti-vascular agent Combretastatin A-4 phosphate assessed by magnetic resonance imaging; Zhao et al

Tuesday April 19, 2005; 8:00am-12:00pm PT

The interaction of Combretastatin A-4 phosphate with pacliataxel and manumycin A in a mouse xenograft model of anaplastic thyroid cancer; Yeung et al

Tuesday April 19, 2005; 1-5pm PT

About Combretastatin A4P (CA4P)

CA4P leads a novel class of drug candidates which have been referred to by OXiGENE as vascular targeting agents (VTAs). CA4P attacks the vascular structure of solid tumors and other diseases characterized by the formation of aberrant blood vessels. The compound triggers a change in the shape of the endothelial cells lining these blood vessels, in turn, blocking the flow of blood to a tumor and depriving it of oxygen and nutrients essential to its survival. Similarly, in eye diseases that are characterized by abnormal blood vessel growth, CA4P has been shown in preclinical studies to suppress development and induce regression of these unnecessary blood vessels.

CA4P is currently being studied in seven clinical trials in oncology, including anaplastic thyroid, lung, head and neck, prostate, colorectal, ovarian, cervical cancers and other imageable tumor types. These clinical trials involve the use of CA4P in both single-agent and combination therapies. It is also currently being studied in a Phase I/II trial in wet age-related macular degeneration and a Phase II trial in myopic macular degeneration.

About OXi4503

OXiGENE believes that OXi4503 is the first in a new class of compounds known as ortho-quinone prodrugs (OQPs), which display a novel cytotoxic effect in addition to their proven vascular targeting capabilities mediated by their action on the tubulin cytoskeleton. Unlike anti-angiogenesis agents that focus on preventing new tumor blood vessels from forming, OQPs appear to attack existing blood vessel structures in the central regions of solid tumors and also have a cytotoxic effect that could enable destruction of the outside rim of cells residing next to, and dependent on, normal tissue blood vessels. OXi4503 is currently in Phase 1 clinical trials for advanced cancers.

OXiGENE is an emerging pharmaceutical 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.

This news release about AACR presentations 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. They 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 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, 2004 for a description of these risks.

James Murphy, 781-547-5900
Vice President and CFO
MacDougall BioCommunications
Chris Erdman, 508-647-0209
Vice President