OXiGENE Schedules Second Quarter 2006 Earnings Conference Call; Live Internet Webcast to be Available at www.oxigene.com

Business Wire, July 10, 2006

WALTHAM, Mass. -- OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN), a leading developer of biopharmaceutical compounds to treat cancer and ophthalmologic diseases, will announce its second quarter 2006 results on Wednesday, July 26, 2006 prior to the opening of the NASDAQ Stock Market, followed by a conference call at 10:00 a.m. EST. OXiGENE's President and Chief Executive Officer, Dr. Richard Chin; Chief Scientific Officer, Dr. David Chaplin; Chief Medical Officer, Dr. Peter Harris; and Chief Financial Officer, James Murphy, will host the call.

To listen to a live or an archived version of the audio webcast, please log on to the Company's website, www.oxigene.com. Under the "Investor Center" tab, click on the link to "Presentations & Conference Calls."

OXiGENE's earnings conference call can also be heard live by dialing (800) 289-0494 in the United States and Canada, and (913) 981-5520 for international callers, five minutes prior to the beginning of the call. A replay will be available starting at 1:00 p.m. EST on July 26, 2006 and ending at midnight EST on Tuesday, August 1, 2006. To access the replay, please dial (888) 203-1112 if calling from the United States or Canada, or (719) 457-0820 from international locations. Please refer to replay pass code 4758428.

About OXiGENE, Inc.

OXiGENE is an emerging pharmaceutical 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.