OXiGENE to Present at American Society of Hematology and AACR/NCI/EORTC Meetings

SOUTH SAN FRANCISCO, Calif., Nov. 12, 2009 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN) (Stockholm:OXGN), a clinical stage, biopharmaceutical company
developing novel therapeutics to treat cancer and eye diseases, announced today
that data from preclinical studies of its vascular disrupting agent (VDA) drug
candidate OXi4503 will be presented at the upcoming meeting of the American
Society of Hematology in New Orleans, LA, December 5-8, 2009. 

Poster # I-53

  Poster Title: AML Regression by Vascular Disruption with
  OXi4503 and Anti-Angiogenesis with Bevacizumab
  Presenter:  Christopher R. Cogle, MD, Assistant Professor,
  Medicine, University of Florida
  Session Name:  Acute Myeloid Leukemia - Therapy, excluding
  Transplantation I
  Session Date and Time: Saturday, December 5, 2009 5:30 PM
  - 7:30 PM
  Location:   Ernest N. Morial Convention Center, Hall E

As previously announced, the Company will also present interim data from its
randomized, controlled, Phase 2 study of ZYBRESTAT(TM) in combination with
Avastin(R) (bevacizumab) and chemotherapy in patients with advanced non-small
cell lung cancer at a poster session at the upcoming AACR-EORTC-NCI Molecular
Targets and Cancer Therapeutics Conference in Boston, MA, November 15-18, 2009. 

Abstract #B19

  Poster Title:  Interim Safety Results of a Randomized Phase
  2 Trial of a Tumor Vascular Disrupting Agent Fosbretabulin
  Tromethamine (CA4P) with Carboplatin, Paclitaxel and
  Bevacizumab in Stage IIIB/IV Non-Squamous Non Small Cell Lung
  cancer (NSCLC)
  Presenter:  Edward Garon, MD, Assistant Professor, Medicine,
  David Geffen School of Medicine at UCLA
  Session ID: Poster Session B
  Session Title: Angiogenesis and Antiangiogenesis Agents 2
  Session Date and Time: Tuesday Nov 17, 2009 12:30 PM - 2:30 PM
  Location: Halls C-D, 2nd Floor, Hynes Convention Center

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(TM)
(fosbretabulin / CA4P), 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 as a monotherapy in a phase 1b/2a
dose-escalation study in patients with solid tumors with hepatic involvement 

About ZYBRESTAT

ZYBRESTAT is currently being evaluated in a pivotal registration study in
anaplastic thyroid cancer (ATC) under a Special Protocol Assessment agreement
with the U.S. Food and Drug Administration (FDA). 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 activity, and the Company's objective is to develop a convenient
and patient-friendly topical formulation of ZYBRESTAT for ophthalmological
indications. 

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. 

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