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OXiGENE Appoints Matthew M. Loar as Chief Financial Officer

SOUTH SAN FRANCISCO, Calif., July 20, 2015 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN), a biopharmaceutical company developing novel therapies for treatment of cancer, today announced that Matthew M. Loar has been appointed Chief Financial Officer. Mr. Loar is a seasoned financial executive with over 20 years of financial and accounting experience in both public and private companies in the biopharmaceutical industry.

"I am extremely pleased to welcome Matt to our leadership team," said William D. Schwieterman, M.D., OXiGENE's President and Chief Executive Officer. "Matt has a wealth of experience in many areas, including business development, financial transactions, and working with Wall Street and the investment community. He brings valuable expertise to OXiGENE as we seek to advance our clinical candidates and work to build shareholder value."

Mr. Loar most recently was Chief Financial Officer at KineMed, Inc., a private company with biomarker technology used in drug development. Previously, Mr. Loar was an independent financial consultant and was CFO at several public companies engaged in clinical drug development, including Neurobiological Technologies, Osteologix, and Genelabs Technologies.

Commenting on his appointment, Mr. Loar said, "I am delighted to join OXiGENE as CFO during this time of transition, growth and opportunity. I look forward to working with Bill and all the staff toward realizing the full value of our clinical programs."

Mr. Loar graduated from the University of California, Berkeley, and is a certified public accountant (inactive) in California. He has served on the board of directors of two public biopharmaceutical companies in the San Francisco Bay Area, and has also served as treasurer of the Silicon Valley Chapter of Financial Executives International (FEI).

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 selectively disrupt abnormal blood vessels that sustain tumors. The company's investigational drugs include fosbretabulin, which is in development as a treatment for solid tumors, and OXi4503, which 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.

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, data and regulatory guidance relative to our clinical programs and 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, manufacturing 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.