Faruqi & Faruqi, LLP Launches An Investigation Against OXiGENE, Inc. (OXGN) For Potential Breaches Of Fiduciary Duties By Its

  Faruqi & Faruqi, LLP Launches An Investigation Against OXiGENE, Inc. (OXGN)
  For Potential Breaches Of Fiduciary Duties By Its Board Of Directors

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New
York City, is investigating the Board of Directors of OXiGENE, Inc.

Business Wire

NEW YORK -- June 18, 2013

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York City, is investigating the Board of
Directors of OXiGENE, Inc. (“OXiGENE” or the “Company”) (NasdaqCM: OXGN) for
potential breaches of fiduciary duties in connection with their conduct in
seeking shareholders’ approval for an amendment to the Company’s 2005 Stock
Plan.

Specifically, in the Proxy Statement filed by the Company with the Securities
and Exchange Commission on June 13, 2013, the Board of Directors recommends
that OXiGENE’s shareholders vote to approve an amendment to the Company’s 2005
Stock Plan to increase the number of shares of OXiGENE common stock reserved
for issuance thereunder from 333,333 shares to 833,333 shares. The issuance of
the additional shares could have a substantial dilutive effect on the shares
of OXiGENE common stock.

Request more information now by clicking here: www.faruqilaw.com/OXGN. There
is no cost or obligation to you.

Faruqi & Faruqi, LLP is a national law firm which represents investors and
individuals in class action litigation. The firm is focused on providing
exemplary legal services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, throughout all phases of
litigation. The firm has an experienced trial team which has achieved
significant victories on behalf of the firm’s clients.

If you own common stock in OXiGENE and wish to obtain additional information
and protect your investments free of charge, please visit us at
www.faruqilaw.com/OXGN or contact Juan E. Monteverde, Esq. either via e-mail
at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212)
983-9330.

Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible
for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior
results do not guarantee or predict a similar outcome with respect to any
future matter. We are happy to discuss your particular case.

Contact:

Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: 877-247-4292
Phone: 212-983-9330