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

Business Wire, Oct 10, 2006

WALTHAM, Mass. -- OXiGENE, Inc. (NASDAQ: OXGN, XSSE: OXGN), a leading developer of biopharmaceutical compounds to treat cancer and certain ophthalmologic diseases, will announce its third quarter 2006 results on Wednesday, October 25, 2006 prior to the opening of the NASDAQ Stock Market, followed by a conference call at 10:00 a.m. ET. OXiGENE's President and Chief Executive Officer, Richard Chin, MD, Chief Financial Officer, James Murphy, Chief Scientific Officer, David Chaplin, Ph.D. and Chief Medical Officer, Dr. Peter Harris, 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To listen to a live or an archived version of the audio webcast, please log on to the Company's website, www.oxigene.com.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 (888) 802-2278 in the United States and Canada, and (913) 312-1264 for international callers, five minutes prior to the beginning of the call. A replay will be available starting at 1:00 p.m. ET on October 25, 2006 and ending at midnight ET on Tuesday, October 31, 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 6743149.

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.

Safe Harbor Statement

Certain statements in this news release may be considered "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. They can be affected by inaccurate assumptions OXiGENE might make or by known or unknown risks and uncertainties, including, but not limited to: the early stage of product development; the ability to secure necessary patents; uncertainties as to the future success of ongoing and planned clinical trials; and the unproven safety and efficacy of products under development. Consequently, no forward-looking statement can be guaranteed, and actual results may vary materially. 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.