WALTHAM, Mass., July 15, 2009 (GLOBE NEWSWIRE) -- OXiGENE, Inc. (Nasdaq:OXGN) (Stockholm:OXGN), a clinical-stage biopharmaceutical company developing novel therapeutics to treat cancer and eye diseases, today announced that it will raise approximately $10 million in gross proceeds, before deducting placement agent fees and other estimated offering expenses, in a registered direct offering of 6.25 million units, at a price of $1.60 per unit. Each unit will consist of (i) one share of common stock, (ii) a warrant exercisable for five years to purchase 0.45 shares of common stock at an exercise price of $2.10 per share of common stock, and (iii) a warrant, exercisable during a period beginning on the date of issue and ending on a date which is the later of (a) nine months from the date of issuance or (b) ten trading days after the earlier of (i) the public announcement of the outcome of the planned interim analysis by the Independent Data Safety Monitoring Committee of data from the Company’s Phase II/III pivotal clinical trial regarding ZYBRESTAT as a treatment for anaplastic thyroid cancer or (ii) a public announcement of future plans for the clinical trial, as specified in the form of warrant, to purchase 0.45 shares of common stock at an exercise price of $1.60 per share. The shares were offered under the Company’s effective shelf registration statement previously filed with the Securities and Exchange Commission.
