OXiGENE Announces Completion of Enrollment of ZYBRESTAT(R) Phase 2 Ovarian Cancer Trial

OXiGENE Announces Completion of Enrollment of ZYBRESTAT(R) Phase 2 Ovarian
Cancer Trial

SOUTH SAN FRANCISCO, Calif., April 24, 2013 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer, announced that enrollment has been completed in
a randomized Phase 2 clinical trial testing the combination of ZYBRESTAT®
(fosbretabulin; CA-4P) plus bevacizumab to treat patients with advanced
ovarian cancer. This trial, GOG-0186I, is being conducted by the Gynecologic
Oncology Group (GOG) under the sponsorship of Cancer Therapy Evaluation
Program (CTEP) of the National Cancer Institute (NCI). This is the first and
currently the only randomized trial to test an antiangiogenic therapeutic
agent combined with a vascular disrupting agent in ovarian cancer, without
including any cytotoxic chemotherapy. The fosbretabulin tromethamine is being
provided to CTEP under a Cooperative Research and Development Agreement
(CRADA) with OXiGENE and the bevacizumab is being provided under a CRADA with
Genentech, Inc.

"We are pleased that this study has reached this important milestone, and look
forward to final results and continuing to collaborate with GOG and Genentech,
as the results from this clinical trial will inform our understanding of the
therapeutic potential of combining these two anti-vascular approaches," said
Peter Langecker, M.D., Ph.D., OXiGENE Chief Executive Officer. "We believe
that there is a strong scientific rationale for this combination, as well as
compelling preclinical and Phase 1 data that support this approach. Both
Avastin and ZYBRESTAT target the tumor vasculature, but they work very
differently and in complementary ways. ZYBRESTAT targets and destroys the
established vasculature that supplies blood to the tumor, and therefore
targets the core of the tumor to deprive it of the oxygen it needs to grow.
Avastin is designed to target the newly forming vasculature that forms
primarily on the outside of the tumor as tumor growth occurs. Combined, we
believe they will result in a more significant reduction in blood flow that
can starve and kill the tumor than with either drug alone."

In this Phase 2 trial, 110 patients with advanced, platinum-sensitive and
resistant ovarian cancer have been enrolled at over 80 clinical sites in the
US. Patients were randomized into one of two treatment arms: one arm to
receive bevacizumab, and the second arm to receive bevacizumab plus ZYBRESTAT.
Once enrolled, patients are treated until disease progression or until adverse
effects prohibit further therapy. The primary endpoint of the trial is to
demonstrate a median progression-free survival increase from 50% to 65% with
the combination of bevacizumab plus ZYBRESTAT, and secondary endpoints include
safety, overall survival and objective responses by treatment. Since full
enrollment was achieved, we are seeking guidance from the GOG as to whether an
interim analysis will be performed. Preliminary results from the final data
set from this trial are anticipated in the first half of 2014.

About the Gynecologic Oncology Group

The Gynecologic Oncology Group (GOG) is a not-for-profit organization with the
purpose of promoting excellence in the quality and integrity of clinical and
basic scientific research in the field of gynecologic malignancies. The GOG is
committed to maintaining the highest standards in clinical trials development,
execution, analysis and distribution of results. The GOG is one of the
National Cancer Institute's funded cooperative groups. The GOG is the only
group that focuses its research on women with pelvic malignancies, such as
cancer of the ovary, uterus, and cervix. The GOG is multi-disciplinary in its
approach to clinical trials, and includes gynecologic oncologists, medical
oncologists, pathologists, radiation oncologists, nurses, statisticians, basic
scientists, quality of life experts, data managers, and administrative
personnel.

About OXiGENE

OXiGENE is a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer. The Company's major focus is developing vascular
disrupting agents (VDAs) that selectively disrupt abnormal blood vessels
associated with solid tumor progression. 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, which include the timing of
advancement, outcomes, and regulatory guidance relative to our clinical
programs, achievement of our business and financing objectives 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 inherent risks of drug development and regulatory
review, and the availability of additional financing to continue development
of our programs.

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, 2012.

CONTACT: Investor and Media Contact:
         ir@oxigene.com
         650-635-7000

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