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OXIGENE REPORTS CA4P DATA

June 5, 2006

OXiGENE has announced new, positive data from a Phase II clinical trial that suggest the therapeutic potential of its lead therapeutic compound under development, CA4P, in the treatment of anaplastic thyroid cancer (ATC). The trial showed patient response, as well as the biological activity of CA4P when CA4P is used either in combination with chemotherapy or as a monotherapy.

The trial is an open-label, Phase II clinical trial of CA4P for the treatment of imageable solid tumors and is being conducted in the U.S. under the company's investigational new drug (IND) application. The trial evaluates the safety and anti-cancer activity of CA4P-carboplatin-paclitaxel therapy. The trial enrolled individuals with various cancer types, of which two individuals had ATC. Treatment with CA4P in combination with chemotherapy resulted in stabilized disease in one ATC patient and a partial response (greater than 50 percent tumor reduction) in the second patient. Further, analysis of blood flow volume to the tumors showed a statistically significant and sizeable reduction of more than 73 percent for both patients.