OXiGENE Announces Results of Stockholder Vote on Proposed Merger With VaxGen, Inc.

SOUTH SAN FRANCISCO, Calif., Feb. 4, 2010 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN) (Stockholm:OXGN), a clinical-stage, biopharmaceutical company developing novel therapeutics to treat cancer and eye diseases, announced today that at the special meeting of stockholders of OXiGENE held yesterday, the issuance of shares of OXiGENE common stock pursuant to the merger agreement with VaxGen, Inc. and all other proposals were adopted. At the special meeting of stockholders of VaxGen, however, also held yesterday, the necessary majority of the outstanding shares of VaxGen common stock did not vote in favor of adoption of the proposed merger agreement with OXiGENE. The proposed merger between OXiGENE and VaxGen will, therefore, not take place.