Investor and Media Contact:
Michelle Edwards, Investor Relations
medwards@oxigene.com
Tel: 415-315-9413
ZYBRESTAT™ Named One of the 10 Most Interesting Oncology Projects Available for
Partnering by Windhover
Waltham, Mass.--(September 4, 2008 )-- OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN)
today announced that ZYBRESTAT (fosbretabulin), the company's lead therapeutic
product candidate, has been selected by Windhover Information and an
independent expert advisory group, Campbell Alliance, as one of the top 10 most
interesting oncology projects available for partnering.
ZYBRESTAT is among the first therapeutic products in a novel class of
small-molecule drug candidates called vascular disrupting agents (VDAs) that
exert anti-tumor effects by selectively destroying tumor blood vessels, thereby
depriving tumors of oxygen and nutrients necessary for survival and growth.
ZYBRESTAT is currently being evaluated in a pivotal registration study as a
treatment for anaplastic thyroid cancer (ATC), a highly lethal malignancy for
which there is no effective therapy, under a Special Protocol Assessment
agreement with the U.S. Food and Drug Administration (FDA). Phase II trials
with ZYBRESTAT are ongoing in platinum-resistant ovarian cancer and non-small
cell lung cancer. Based on clinical and preclinical study results, OXiGENE
believes that ZYBRESTAT has therapeutic potential in a wide variety of solid and
liquid tumor indications, and may be combined with a variety of current oncology
treatments, including chemotherapy, anti-angiogenic drugs, radiation, and
tyrosine-kinase inhibitors, to deliver improved efficacy benefits to cancer
patients.
“Given the large universe of clinical-stage oncology drugs available for
partnering, we believe that Windhover's selection of ZYBRESTAT as a top-10
oncology drug available for partnering is further validation of its potential to
become an important oncology drug product,” commented John Kollins, OXiGENE's
Chief Operating Officer.
The selection of ZYBRESTAT was made by Windhover Information in conjunction with
Campbell Alliance. Windhover is a leading provider of business information to
senior executives in the pharmaceutical, biotechnology, and medical device
industries. Campbell Alliance is a specialized management consulting firm
focusing on the pharmaceutical and biotechnology industries.
"Selected companies were evaluated using a strict set of judging criteria and
represent what our committee considered the most attractive oncology
opportunities the industry has to offer," said Roger Longman, Managing Director
of Windhover Information. "Winners have met rigorous criteria including: unmet
medical need, market potential, diversity of indications, strong science,
multi-level partnering opportunities, potential for new opportunities beyond
initial indications, and corporate stability."
As a selected company, OXiGENE has been invited to present at Windhover's
Therapeutic Area Partnerships conference on November 3-5, 2008 in Philadelphia.
-- more --
About OXiGENE
OXiGENE is a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer and eye diseases. The company's major focus is
developing vascular disrupting agents (VDAs) that selectively disrupt abnormal
blood vessels associated with solid tumor progression and visual impairment.
OXiGENE is dedicated to leveraging its intellectual property and therapeutic
development expertise to bring life-extending and life-enhancing medicines to
patients.
About ZYBRESTAT (fosbretabulin)
ZYBRESTAT is currently being evaluated in a pivotal registration study in
anaplastic thyroid cancer (ATC) under a Special Protocol Assessment agreement
with the U.S. Food and Drug Administration (FDA). OXiGENE believes that
ZYBRESTAT is poised to become the first therapeutic product in a novel class of
small-molecule drug candidates called vascular disrupting agents (VDAs).
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 studies in
solid tumors, ZYBRESTAT has demonstrated potent and selective activity against
tumor vasculature, as well as clinical activity against ATC, ovarian cancer, and
various other solid tumors. In clinical studies in patients with forms of
macular degeneration, intravenously-administered ZYBRESTAT has demonstrated
clinical activity, and the Company is working to develop a convenient and
patient-friendly topical formulation of ZYBRESTAT for ophthalmological
indications.
About Windhover
Windhover Information Inc., an Elsevier company, has led the field in providing
analysis of the healthcare industry to decision-makers at all levels since the
founding of its flagship publication, IN VIVO, The Business & Medicine Report,
in 1983. Windhover provides its information and analysis in many formats,
including print, electronic databases, international conferences and webinars.
For more on the company's products and services, please see www.windhover.com.
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 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 potential for ZYBRESTAT to become an important oncology drug
product. 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, 2007.
# # #
ZYBRESTAT™ Named One of the 10 Most Interesting Oncology Projects Available for Partnering by Windhover
| Source: Oxigene, Inc.