OXiGENE Announces Change to Board of Directors

SOUTH SAN FRANCISCO, Calif., March 15, 2010 (GLOBE NEWSWIRE) -- OXiGENE, Inc.
(Nasdaq:OXGN), a clinical-stage biopharmaceutical company developing novel
therapeutics to treat cancer and eye diseases, today announced that Arthur B.
Laffer, Ph.D , has resigned from the Company's Board of Directors to pursue
other longstanding interests, effective immediately. Dr. Laffer has served on
the OXiGENE Board of Directors since 1998 and had served as Chair of the Audit
Committee, the Chair of the Compensation Committee and a member of the
Nominating and Governance Committee. 

William N. Shiebler, Chairman of OXiGENE Board of Directors, stated, "Over the
past 12 years Art Laffer has made many significant contributions to OXiGENE and
provided excellent counsel and support. The entire board and I thank him for
his exceptional service and wish him all the best in his future endeavors." 

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. 

The OXiGENE, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=4969 

CONTACT:  OXiGENE, Inc.
          Investor and Media Contact:
          Michelle Edwards, Investor Relations
          650-635-7006
          medwards@oxigene.com