OXiGENE Announces Fourth Quarter and Fiscal 2010 Earnings Conference Call and Webcast

OXiGENE, Inc. (Nasdaq:OXGND), a clinical-stage, biopharmaceutical company developing novel therapeutics to treat cancer and eye diseases, will report fourth quarter and fiscal year-end 2010 results, along with guidance for 2011, on Thursday, March 3, 2011. A conference call and webcast hosted by OXiGENE management will begin at 4:30 pm EST (1:30 p.m. PST).

To listen to a live or an archived version of the audio webcast, please log on to the Company's website, www.oxigene.com.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 "Investors" tab, select the link to "Events & Presentations."

OXiGENE's earnings conference call can also be heard live by dialing [phone] in the United States and Canada, and [phone] for international callers, five minutes prior to the beginning of the call. A replay will be available starting at 7:30 p.m. EST, (4:30 p.m. PST) on March 3, 2011 and ending at midnight EST (9:00 p.m. PST) on Wednesday, March 9, 2011. To access the replay, please dial [phone] if calling from the United States or Canada, or [phone] from international locations. Please refer to replay pass code 44782248.

About OXiGENE, Inc.

OXiGENE is a clinical-stage biotechnology 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.

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

CONTACT: Michelle Edwards, Investor Relations
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         650-635-7006