OXiGENE Announces Preclinical Data Presentation on Novel Anticancer Compounds, Benzosuberenes, Demonstrating Potent Anti

OXiGENE Announces Preclinical Data Presentation on Novel Anticancer Compounds,
Benzosuberenes, Demonstrating Potent Anti-Proliferative Activity

SOUTH SAN FRANCISCO, Calif., Nov. 18, 2013 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer, announced that researchers from Baylor
University, with whom OXiGENE has a collaboration, are continuing to advance
their discovery program focused on several small-molecule anticancer agents
belonging to the benzosuberene class which are potent inhibitors of tubulin
polymerization and are highly cytotoxic (in the picomolar to sub-picomolar
range) against human cancer lines. Preclinical data presented today at the
Southwest Regional Meeting (SWRM) of the American Chemical Society in Waco, TX
emphasized the potential therapeutic utility of these benzosuberene compounds.
The relative simplicity of their chemical structure coupled with their
pronounced biological activity in vitro could enable them to be potent
"payloads" in antibody-drug conjugates (ADCs) and to be used as cytotoxic
agents in other targeted delivery strategies.

These benzosuberene compounds are the product of OXiGENE's ongoing
collaboration with Kevin G. Pinney, Ph.D. and Mary Lynn Trawick, Ph.D. at
Baylor University to identify inhibitors of tubulin polymerization as vascular
disrupting agents (VDAs). OXiGENE has an exclusive license to the worldwide
rights to all of the compounds that result from this collaboration.

"At Baylor, we have had a long-term program focused on small-molecule
interactions with tubulin, which has led to our design and synthesis of the
benzosuberene class of compounds, and discovery that several small-molecule
anticancer agents of this class demonstrate pronounced cytotoxicity against a
wide variety of human cancer cell lines," said Dr. Pinney. "We are encouraged
by the promise that one or more of these anticancer agents may have the
potential to achieve selective delivery to tumors through antibody-drug
conjugate technologies."

"There is significant interest in the scientific and medical community in new
molecules with utility in the ADC space as an emerging technology which holds
a lot of promise to treat cancer and other areas of unmet medical need," said
Peter Langecker, M.D., Ph.D., OXiGENE's Chief Executive Officer. "We are
pleased with the progress our collaborators at Baylor are making in
identifying the capabilities and differentiating characteristics of the
benzosuberene compounds. We believe that this early-stage vascular disrupting
agent research program is a valuable asset in our pipeline, and we look
forward to seeing these compounds advance in preclinical testing."

The two presentations at the SWRM conference were titled:

  *Design and synthesis of benzosuberene analogues as potential vascular
    disrupting agents. C. A. Herdman, L. Devkota, C. Lin, C. S. George, R.
    Tanpure, T. E. Strecker, D. J. Chaplin, M. Trawick, K. G. Pinney
  *Investigation of benzosuberene and indole-based tubulin-binding agents
    that resemble combretastatin A-4 (CA4) as vascular disrupting agents. M.
    Trawick, K. G. Pinney, R. P. Mason, D. J. Chaplin

About Baylor University

Baylor University is a private Christian university and a nationally ranked
research institution, characterized as having "high research activity" by the
Carnegie Foundation for the Advancement of Teaching. The university provides a
vibrant campus community for approximately 15,000 students by blending
interdisciplinary research with an international reputation for educational
excellence and a faculty commitment to teaching and scholarship. Chartered in
1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor
is the oldest continually operating university in Texas. Located in Waco,
Baylor welcomes students from all 50 states and more than 80 countries to
study a broad range of degrees among its 11 nationally recognized academic
divisions. Baylor sponsors 19 varsity athletic teams and is a founding member
of the Big 12 Conference.

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. The Company's lead clinical product,
ZYBRESTAT, is in development as a potential treatment for ovarian cancer and
anaplastic thyroid cancer (ATC). 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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