OXiGENE Adds Two New Directors to Its Board


OXiGENE Adds Two New Directors to Its Board

WALTHAM, Mass.--(BUSINESS WIRE)--June 27, 2007--Regulatory News:

    OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN), a clinical-stage
biopharmaceutical company developing novel therapeutics to treat
cancer and eye diseases, announced today that the Company has added
two new members to its Board of Directors. The addition of Roy Hampton
Fickling and William D. Schwieterman, M.D., as Directors brings the
total number of OXiGENE Directors to nine.

    Dr. Schwieterman is a board-certified internist and a
rheumatologist, and was formerly Chief of the Medicine Branch and
Chief of the Immunology and Infectious Disease Branch in the Division
of Clinical Trials at the Food and Drug Administration (FDA). In these
capacities and others, Dr. Schwieterman spent 10 years at the FDA in
the Center for Biologics overseeing a wide range of clinical
development plans for a large number of molecules. He worked with
sponsors for the development of new agents for pulmonary medicine,
neurology, sepsis, hepatitis, rheumatology, infectious disease, solid
organ transplantation and wound-healing, among other areas, and also
worked closely with reviewers of vaccines, devices (CDRH) and
oncologic products. Dr. Schwieterman also helped author the FDA's"Good Review Practices" for investigational products, and was
instrumental in the development of several guidance documents. Dr.
Schwieterman is now an independent consultant to biotech and
pharmaceutical companies specializing in clinical development.

    Mr. Fickling is the owner and President of Fickling & Company,
Inc., a Macon, GA-based regional real estate development, brokerage,
management and consulting firm, and a Director of several closely held
investment and operating companies. In the past, he was a founding
Director of Rivoli Bank & Trust, of Macon and of Beech Street, U.K.,
Ltd. of London, England, an international healthcare administration
firm. He was a major shareholder and advisor to Beech Street
Corporation, the largest private PPO network, prior to its acquisition
by Concentra, Inc. in 2005. Prior to forming Fickling & Company, Mr.
Fickling was employed by Charter Medical Corporation where he worked
in the administration of both a medical surgical hospital and a
psychiatric hospital.

    Joel Citron, Chairman of the Board, stated, "I am pleased to
welcome Mr. Fickling and Dr. Schwieterman to OXiGENE's Board of
Directors. Roy's track record as a highly regarded businessman and his
experience with the healthcare providers and payors will be an
important addition to OXiGENE's board. Bill has extensive experience
at senior levels of the FDA, as well as expertise on clinical trials
and regulatory strategy."

    Richard Chin, M.D., the Chief Executive Officer stated, "We look
forward to working with Mr. Fickling and Dr. Schwieterman as we mature
the pipeline with a goal of bringing important products to the market.
Experience from the payor perspective and from the regulatory
perspective will be very helpful to the company as we transition into
a late clinical stage company and beyond."

    About OXiGENE, Inc.

    OXiGENE is a clinical-stage biopharmaceutical company developing
novel small-molecule therapeutics to treat cancer and eye diseases.
The Company's major focus is the clinical advancement of drug
candidates that selectively disrupt abnormal blood vessels associated
with solid tumor progression and visual impairment. OXiGENE is
dedicated to leveraging its intellectual property position and
therapeutic development expertise to bring life saving and 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,
including those relating to the successful completion of planned
clinical trials and product approvals by the FDA 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. 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 Form 10-Q, 8-K
and 10-K reports. 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, 2006.

OXiGENE, Inc.
Investor Relations, 781-547-5900
or
Shari Annes, 650-888-0902

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