OXiGENE, Inc. Announces $12 Million Public Offering

OXiGENE, Inc. Announces $12 Million Public Offering

SOUTH SAN FRANCISCO, Calif., Feb. 12, 2014 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN) today announced that it has entered into definitive agreements
with investors to purchase an aggregate of approximately $12 million of units,
in a registered public offering, at a price per unit of $2.05. Each unit
consists of one share of common stock and 0.5 of a warrant to purchase a share
of OXiGENE common stock. The warrants have an exercise price of $2.75 per
share, shall be exercisable immediately and will expire five years from the
date of issuance. The closing of the offering is expected to take place on or
about February 18, 2014, subject to the satisfaction of customary closing
conditions.

H.C. Wainwright & Co., LLC acted as the sole book-running manager for the
offering. The securities described above are being offered pursuant to a
registration statement (File No. 333-190464) which became effective on
February 11, 2014, and a registration statement filed pursuant to Rule 462(b)
which became effective on February 12, 2014. When filed with the Securities
and Exchange Commission, copies of the final prospectus for the offering can
be obtained at the SEC's website at http://www.sec.gov, or from H.C.
Wainwright & Co., LLC by e-mailing placements@hcwco.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities described herein. There shall not be
any offer, solicitation of an offer to buy, or sale of securities in any state
or jurisdiction in which such an offering, solicitation, or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or jurisdiction.

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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