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Corporate Presentation May 23, 2017 Safe Harbor Statement This presentation contains forward-looking statements under the meaning of the Private Securities Litigation Reform Act of 1995. These statements give our current expectations or forecasts and use words such as “anticipate,” “estimate,” “believe,” and other words of similar meaning. Any or all of the forward-looking statements in this presentation may turn out to be wrong. They can be affected by inaccurate assumptions we might make or by known or unknown risks and uncertainties including but not limited to, the efficacy of our technology and its efficacy at acceptable dosage levels, the ability to raise capital when needed and on reasonable terms, successful clinical trial results, developing the necessary manufacturing processes and gaining all necessary regulatory approvals. Consequently, no forward-looking statement can be guaranteed and actual results may differ materially. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements are contained in our reports to the Securities and Exchange Commission including our 10-Q, 8-K and 10-K reports. However, we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. We note these factors for investors as permitted by the Private Securities Litigation Reform Act of 1995. Corporate Overview • Most advanced Vascular Targeting Agent in clinic • Lead compound (CA4P) in six human trials • Indications- Solid tumors (oncology) and neo-vascular retinal disease (ophthalmology) • FDA fast track & orphan drug designations • Multiple second-generation compounds being developed • $35.5 million cash on hand as of June 30, 2004 • 2004 projected burn rate $10 - $12million Advantages of Vascular Targeting •Damages existing micro-vessels newly formed in tumors and ocular disorders •Disrupts the cytoskeleton of endothelial cells causing a physical change of cell shape from flat to round •Induces shutdown of blood flow •Starves tumor of oxygen, nutrients, waste pathway •Absence of significant cytotoxic side effects to normal tissue Published Papers on Combretastatins 1994-2003 50 40 30 20 10 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 Most Recent Developments • 12/2003: • 4/2004: • 4/2004: • 5/2004: • 5/2004: Announced plans to expand ophthalmology research efforts following dramatic response of myopic macular degeneration patient OXiGENE Strengthens Clinical Trial Advisory Board with Appointment of Retinal Surgeon Eugene de Juan, Jr., M.D. OXiGENE's Combretastatin A4 Prodrug Granted European Union Orphan Medicinal Product Designation for Anaplastic Thyroid Cancer Anti-tumor activity with no unexpected toxicity reported in Phase Ib/II combination trials of CA4P with Carboplatin and Paclitaxel. Biological response in decreased foveal thickness via Optical Coherence Tomography (OCT) noted in patient in wet AMD trial. Lead compound: Combretastatin A4P Results of OXiGENE Phase I Sponsored Trials •Approximately 100 patients dosed •CA4P administered as a single-agent •Advanced oncology patients •Compound well-tolerated •Most frequent side effects at MTD -Tumor pain, Headache, Fatigue, Nausea •Blood-flow reduction monitored •14 clinical effects Activity Data (all studies) Site Regimen (mg/m2) Tumor type Best “Response” Duration CWRU 36 q 21 d Lung SD 4 cycles CWRU 60 q 21 d A. Thyroid CR 9 cycles CWRU 90 q 21 d Pancreas 20% 2 cycles CWRU 60 q 21 d Colon SD 24 cycles CWRU 50 q 21 d M. Thyroid SD 14 cycles UPENN 6x5 Renal SD 4 cycles UPENN 42 x 5 M. Thyroid SD 7 cycles UPENN 56 x 5 Renal SD 4 cycles UPENN 56 x 5 Fibrosarcoma PR 7 cycles UPENN 75 x 5 Pancreas 20% 7 cycles UPENN 65 x 5 M. Thyroid SD 29 cycles UPENN 65 q x 5 M. Thyroid SD 7 cycles CRC 68 weekly Adrenocortical SD 7 cycles MRI Parameter Images, (CRC) Pre-treatment 24 Hrs Post-treatment Ktrans Pelvic leiomyosarcoma, 52 mg/m2, Patient #31 Dynamic Contrast Enhanced - Magnetic Resonance Imaging (DCE-MRI) using the paramagnetic contrast agent gadopentetate dimeglumine (Gd-DTPA) CA4P Clinical Programs Phase II Indication Advanced anaplastic thyroid cancer Combination Expected Patient Enrollment Single agent 32 Doxorubicin/cisplatin Radiotherapy 33 Radiotherapy 30 Carboplatin and paclitaxel 60 I/II Newly diagnosed anaplastic thyroid cancer I/II Advanced carcinoma of the lung, head/neck, prostate I/II Advanced ovarian cancer I/II Advanced colorectal cancer mAb A5B7 35 I/II Wet age-related macular degeneration Single agent 15 Combination effect of CA4P with Carboplatin and Paclitaxel in ES-2 ovarian carcinoma model 1200 Tumor volume 1000 800 Control CA4P 600 Carboplatin + Paclitaxel 400 CA4P + Carboplatin + Paclitaxel 200 0 11 15 19 22 26 29 Days post inoculation 33 36 40 100mg/kg weekly Post Phase I Reported Interim Data • 50 patients treated in various combination settings (Chemo, XRT, Antibody) • No unexpected toxicity observed • Primary side effects include headache, fatigue, hypertension, tumor pain • Good evidence of reduced tumor blood flow • Anti-tumor activity observed Post Phase I Activity Data - Cancer • Advanced Ovarian Trial – – – – – 12 evaluable patients enrolled (1) PR via RECIST in Ovarian (4) PR via CA-125 ovarian cancer marker (5) Stable disease 2 PR’s included above were resistant to previous Carboplatin treatments – Compound well-tolerated – No CA4P related SAE’s or DLT’s CA4P Oncology Strategy • • • • • Advance rapidly to registration Investigate multiple indications Combinations with multiple treatment modalaties Utilize Orphan Drug designations when applicable Open new combination trials Second-generation Compounds • Oxi4503 – – – – – Lead pre-clinical candidate Dual mechanism of action Synthetic manufacturing process completed Accepted by Cancer Research UK for clinical development Phase I trials to begin in 2004 Second-generation Compounds • Oxi6197 – Structurally distinct from OXiGENE's Combretastatin platform of VTAs – Collaboration with National Cancer Institute – Go/No Go development decision by NCI in 2004 • Oxi8007 – Wide therapeutic window – Excellent blood flow shutdown with low toxicity in animal models – State of the art pre-clinical testing in ophthalmology Clinical Strategy for CA4P • Ophthalmology – First VTA to enter into non-life threatening disease indication – Positive preclinical studies conducted at Johns Hopkins and University of Cambridge – Wet AMD Trial at Johns Hopkins (Phase I/II) by IV – File IND for clinical trial in MMD – Investigate topical administration Retinal Photo Comparison Normal Retina Wet AMD CA4P Treatment Inhibits Corneal Neovascularization No Treatment a50 CA4P (IV) Treatmenta mg/kg CA4P IV [qdx5] x 2 Admin. CA4P @ day 10 Phase I/II Wet AMD Interim Data • • • • 6 patients treated in dose escalating wAMD trial 1 patient treated with MMD treated under emergency IND No Grade 3 or 4 toxicities or SAE’s observed Primary side effects headache, hypertension, body temperature increase • MMD patient improved visual acuity to 20/20 • Biological response in decreased foveal thickness via Optical Coherence Tomography (OCT) noted in 1 patient Upcoming Events • October 24-29 ESTRO Conf. Amsterdam -Dr. Peter Hoskins -- P Ib Radio. H&N, Lung, Prostate • File IND in 2nd half 2004-- Myopic Macular Degeneration • File IND in 2005 – Multi-center Ovarian Cancer trial • Enter OXi4503 into Phase I in Q4 2004 • Launch new trial with chemotherapy in new cancer indication in 2004 Management Team Frederick Driscoll Scott Young, RAC, MPH President and Chief Executive Officer Chief Operating Officer David Chaplin, Ph.D. Jim Murphy Chief Scientific Officer and Head of Research and Development Vice President and Chief Financial Officer Clinical and Scientific Advisors Håkan Mellstedt, M.D.,Ph.D. Professor Karolinska Institute Chairman CTAB Lee Rosen, M.D. Director UCLA Cancer Program Margaret A. Tempero, M.D. President Elect ASCO UCSF Cancer Ctr. Robert S. Kerbel, Ph.D. Professor of Oncology University of Toronto Jan B. Vermorken, M.D., Ph.D. Prof. of Oncology & Dept. Head Univ. Hosp. of Univ. of Antwerp Eugene de Juan, Jr., M.D. Professor of Ophthalmology Keck School of Medicine Univ. of Southern California Dietmar W. Siemann, Ph.D. Prof. Of Oncology Univ. of Florida College of Medicine in Gainesville Adrian Harris, M.D. Professor Of Clinical Oncology University of Oxford Summary: Why OXiGENE represents an excellent investment opportunity • CA4P is 1st in class in clinical development • Targeting two large & rapidly growing markets • Secured FDA fast track and orphan drug status and EMEA orphan drug status • Broad IP portfolio-COM coverage through 2021 • CA4P continues to demonstrate an acceptable safety profile and anti-tumor activity • Strong Balance Sheet • Exciting pre-clinical compounds • Strategic relationships