OXIGENE Announces Publication of Final FACT Study Data in Journal Thyroid Suggest Survival Benefit of ZYBRESTAT(R) in Patients

OXIGENE Announces Publication of Final FACT Study Data in Journal Thyroid
Suggest Survival Benefit of ZYBRESTAT(R) in Patients With Anaplastic Thyroid
Cancer

Data From 80-Patient Randomized Study Indicates 27% Reduction in Risk of Death
With ZYBRESTAT Plus Chemotherapy

SOUTH SAN FRANCISCO, Calif., June 10, 2013 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN), a clinical-stage, biopharmaceutical company developing novel
therapeutics to treat cancer, announced the publication in the peer-reviewed
journal Thyroid of the final results of a randomized controlled global trial
in anaplastic thyroid cancer (ATC) which suggests a survival benefit in
patients who received ZYBRESTAT and chemotherapy versus chemotherapy alone.

The results of the FACT study (Fosbretabulin in Anaplastic Cancer of the
Thyroid) form the basis of the company's ongoing efforts to pursue a Marketing
Application Authorization (MAA) with the European Medicine Agency (EMA) under
the Exceptional Circumstances process which is specifically designated for
very rare diseases that have limited or no available therapeutic options and a
significant unmet medical need.

"ATC affects 800 to 1,000 patients each year in the U.S. and a similar number
in the European Union with a reported median survival around 3-4 months, with
fewer than 10 percent of patients surviving one year," said Julie A. Sosa,
M.D., Duke University School of Medicine, Durham NC, who was the Principal
Clinical Investigator of the study. "This final publication of the FACT study
data, suggests there might be clinically meaningful increases in both overall
survival and one-year survival with ZYBRESTAT. It may represent a potential
new therapeutic option for patients with ATC, who to this day have limited
treatment options and generally dismal outcomes."

The online publication, ahead of print, titled "Randomized safety and efficacy
study of fosbretabulin with paclitaxel/carboplatin against anaplastic thyroid
carcinoma," by Sosa et al., is available at:
http://0-www.ncbi.nlm.nih.gov.elis.tmu.edu.tw/pubmed/23721245. The preliminary
results of the FACT study were previously presented as an oral presentation at
American Society of Clinical Oncology (ASCO) meeting and named "Best of ASCO"
in 2011.

In this randomized 80-patient study, the observed median overall survival (OS)
was 5.2 months for patients who received a combination of ZYBRESTAT and
chemotherapy compared with 4.0 months for patients receiving chemotherapy
alone (Hazard Ratio (95% CI) of 0.73 (0.44, 1.21) NS), indicating a 27%
reduction in the risk of death. For patients treated with ZYBRESTAT and
chemotherapy, the likelihood of being alive at one year was 26% compared with
9% for patients treated with chemotherapy alone. The treatment on both arms of
the study was well tolerated and, as seen in previous studies, the most
clinically relevant side effects associated with the use of ZYBRESTAT in this
study were neutropenia, transient hypertension, and tumor pain. There were no
significant adverse cardiovascular side effects.

Peter J. Langecker, M.D., Ph.D., OXiGENE Chief Executive Officer, commented:
"In the past several months, we have made significant progress in pursuit of
the MAA and are optimistic that we may be in a position to submit an
application for marketing approval to the EMA in 2015, pending additional
input from the Scientific Advice Working Party of the EMA, expected in the
coming months. We believe that the MAA strategy in the EU will best leverage
the investment we have made in ATC and is in the best interest of all our
stakeholders. We are also continuing to explore a path in the U.S. for
registration of ZYBRESTAT in ovarian cancer which we believe represents a
significant commercial opportunity for OXiGENE."

About ZYBRESTAT

ZYBRESTAT (fosbretabulin tromethamine) is a novel small-molecule, vascular
disrupting agent. 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 trials in solid tumors, ZYBRESTAT has shown potent and
selective activity against tumor vasculature, as well as possible clinical
activity against anaplastic thyroid cancer, ovarian cancer and various other
solid tumors.

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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