Study Results to be Announced at 9th European Cancer Conference
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Study Results to be Announced at 9th European Cancer Conference

NEW YORK and LUND, Sweden, Dec. 16, 1996 -- OXiGENE, Inc. (Nasdaq: OXGN) today announced that its ongoing 226-patient, European, randomized, controlled Phase II/III clinical trial of Sensamide(TM) in combination with radiation in patients with inoperable non-small cell lung cancer (nSCLC) is nearly completed with more than 200 patients recruited. The Company intends to announce the results of this clinical trial at the 9th European Cancer Conference (ECCO 9) to be held in Hamburg, Germany, from September 14-18, 1997.

OXiGENE selects Bioniche for commercial batch manufacturing of Neu-Sensamide(TM). OXiGENE further announced that it has selected Bioniche, Inc., a Canadian pharmaceutical company with cGMP-standard manufacturing facilities, for the commercial batch manufacturing of Neu-Sensamide(TM). The Bioniche arrangement will enable the Company to assemble and evaluate shelf-life and stability data of Neu-Sensamide(TM) produced by Bioniche in connection with the Company's ongoing Sensamide(TM)/Neu-Sensamide(TM) clinical trial in patients with inoperable non-small cell lung cancer (nSCLC). The production will take place at Bioniche's facilities in Ireland, and is expected to commence in January 1997.

OXiGENE is engaged in the design and development of drugs within the Company's core technology, the cellular DNA repair mechanism. The Company's research and clinical trials focus on enhancing the clinical efficacy of radiation and chemotherapy in cancer treatment. OXiGENE is also engaged in the development of DNA repair measurement technology and compounds that may stimulate normal cell DNA repair.

This press release contains forward-looking statements that involve risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed in this press release. Factors that may cause such a difference include, but are not limited to, those risks and uncertainties associated with regulatory approval of Neu-Sensamide(TM) and the Company's other proprietary drugs, and other risks discussed in the Company's Annual Report on Form 1O-K and in the Company's other filings with the Securities and Exchange Commission during the past 12 months.

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