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OXiGENE Announces Issuance of U.S. Patent for OXi4503 in Acute Myeloid Leukemia

SOUTH SAN FRANCISCO, Calif., May 26, 2015 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN), a biopharmaceutical company developing novel therapies for the treatment of cancer, today announced that the U.S. Patent and Trademark Office has granted it a patent (U.S. Patent No. 9,040,500) related to the use of OXi4503 for the treatment of myeloid neoplasms, including acute myeloid leukemia (AML).

"The granting of this U.S. patent is a notable achievement for OXiGENE and strengthens our program in AML, a potential orphan indication for which there is a great unmet need," said Bill Schwieterman, M.D., OXiGENE's President and CEO. "We are looking forward to starting a new company-sponsored Phase 1/2 clinical study of OXi4503 for this indication later this year, as we work to advance and strengthen our clinical pipeline."

OXi4503 (combretastatin A1 di-phosphate) is a dual mechanism vascular disrupting agent (VDA) that has been observed to block and destroy tumor vasculature, resulting in extensive tumor cell death and necrosis. OXi4503 combines a VDA mechanism with cytotoxic activity. It is currently being evaluated in a Phase 1 investigator-sponsored study at the University of Florida in patients with relapsed and refractory AML and myelodysplastic syndrome (MDS). The study is also sponsored in part by The Leukemia & Lymphoma Society's Therapy Acceleration Program. OXiGENE is planning to initiate a Phase 1/2 trial of OXi4503 in patients with AML and MDS later this year.

About OXiGENE

OXiGENE is a clinical-stage biopharmaceutical company developing novel therapies for the treatment of 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) and myelodysplastic syndrome (MDS). 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, 2014.

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

Source:OXiGENE, Inc.