Faruqi & Faruqi, LLP Launches An Investigation Against OXiGENE, Inc. (OXGN) For Potential Breaches Of Fiduciary Duties By Its Board Of Directors

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of OXiGENE, Inc. (“OXiGENE” or the “Company”) (NasdaqCM: OXGN) for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment to the Company’s 2005 Stock Plan.

Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on June 13, 2013, the Board of Directors recommends that OXiGENE’s shareholders vote to approve an amendment to the Company’s 2005 Stock Plan to increase the number of shares of OXiGENE common stock reserved for issuance thereunder from 333,333 shares to 833,333 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of OXiGENE common stock.

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Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.

If you own common stock in OXiGENE and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/OXGN or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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