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OXiGENE Announces Issuance of European Patent for OXi4503 in Acute Myeloid Leukemia and other Myeloid Malignancies

SOUTH SAN FRANCISCO, Calif., Nov. 17, 2014 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN), a biopharmaceutical company developing novel cancer therapeutics, today announced that the company has been granted a patent by the European Patent Office related to its current clinical product candidate, OXi4503. The patent (EP 2219451 B1) is drawn to the use of OXi4503 in treating non-solid myeloid neoplasm, including acute myeloid leukemia (AML).

"We are pleased to be granted this additional patent for OXi4503 in Europe, which builds on similar patents recently issued in Australia and Japan, and further extends the patent protection for this novel therapeutic candidate," said Dai Chaplin, Ph.D., OXiGENE's President and CEO. "AML is an area of significant unmet need, and we are highly encouraged by the preclinical and early clinical data to date that support the ongoing development of OXi4503 as a potential new option for patients."

OXi4503 (combretastatin A1 di-phosphate) is a dual mechanism vascular disrupting agent that has been observed to block and destroy tumor vasculature, resulting in extensive tumor cell death and necrosis. Patients with relapsed and refractory AML or myelodysplastic syndrome (MDS) are currently receiving OXi4503 in a Phase 1 investigator-sponsored study. The study is sponsored in part by The Leukemia & Lymphoma Society's Therapy Acceleration Program, and is being conducted by researchers at the University of Florida.

About OXiGENE

OXiGENE is a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer. The company is focused on developing vascular disrupting agents (VDAs), which are compounds that selectively disrupt abnormal blood vessels associated with solid tumor survival and progression. The company's lead clinical product candidate, fosbretabulin, is in development as a potential treatment for solid tumors. OXi4503, its second product candidate, is in development for acute myeloid leukemia (AML). OXiGENE is dedicated to leveraging its intellectual property and therapeutic development expertise to bring life-extending and life-enhancing medicines to patients.

Safe Harbor Statement

This news release contains "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, which include the timing of advancement, outcomes, and regulatory guidance relative to our clinical programs, achievement of our business and financing objectives may turn out to be wrong. Forward-looking statements can be affected by inaccurate assumptions OXiGENE might make or by known or unknown risks and uncertainties, including, but not limited to, the inherent risks of drug development and regulatory review, and the availability of additional financing to continue development of our programs.

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 reports on Form 10-K, 10-Q and 8-K. However, OXiGENE undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise. Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

CONTACT: Investor and Media Contact: ir@oxigene.com 650-635-7000

Source:OXiGENE, Inc.