8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                       PURSUANT TO SECTION 13 OR 15(D) OF
                     THE SECURITIES AND EXCHANGE ACT OF 1934

                        Date of Report: October 4, 1999

                        (Date of earliest event reported)


                                  OXiGENE, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                   000-21990                  13-3679168
- ----------------------------      ----------------        ----------------------
(State or other jurisdiction      (Commission File            (IRS Employer
     of incorporation)                 Number)            Identification Number)

One Copley Place, Suite 602, Boston, Massachusetts               02116
- --------------------------------------------------              ----------
(Address of principal executive offices)                        (Zip Code)

Registrant's telephone number, including area code:  (617) 536-9500



Item 5.  Other Materially Important Events

     On October 4, 1999, the Registrant issued a press release,  a copy of which
is attached  hereto as Exhibit  99.1,  announcing  interim  results of a Phase I
clinical trial for its Combretastatin A4 Prodrug.

     Certain  statements  made in this press release that may relate to clinical
trial outcomes,  therapeutic applications and outcomes,  governmental approvals,
potential market size and  commercialization  are  forward-looking  and are made
pursuant to the safe harbor  provisions of the Securities  Litigation Reform Act
of 1995.  Such  statements  involve  risks  and  uncertainties  that may  differ
materially from those set forth in these statements.  As described  elsewhere in
the Registrant's  filings with the Securities and Exchange  Commission,  Phase I
clinical  trials  represent the first use of a drug in humans and include only a
small number of patients for the purpose of determining the  preliminary  safety
profile of a drug. The results of early stage clinical  testing of drugs are not
necessarily predictive of results that will be obtained from subsequent testing,
and the FDA may require  modification,  suspension or  termination of subsequent
clinical  trials.  There can be no assurance  that future  clinical  trials will
demonstrate the safety and efficacy of a drug or the ability to obtain necessary
regulatory  approvals of such drugs.  In addition,  the  economic,  competitive,
governmental,  technological  and other factors  identified in the  Registrant's
filings with the  Securities  and Exchange  Commission  could affect the results
reflected in such forward-looking statements.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)  Exhibits.

              99.1  Press release of the Registrant, dated October 4, 1999.



     Pursuant to the  requirements  of the  Securities  Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by the undersigned herewith duly authorized.

Date:  October 5, 1999                      OXiGENE, INC.
                                            (Registrant)


                                            By:  /s/ Bo Haglund
                                                 -------------------------------
                                                 Bo Haglund
                                                 Chief Financial Officer



                                  EXHIBIT INDEX


Exhibit

99.1  Press release of the Registrant, dated October 4, 1999.

EX-99.1

                   OXIGENE REPORTS INTERIM CLINICAL DATA FOR
                            COMBRETASTATIN A4 PRODRUG

  Phase I Clinical Trial Shows Significant Reduction in Tumor Blood Flow in
                                     Humans

Boston, MA and Stockholm,  Sweden, October 4, 1999 - OXiGENE Inc. (NASDAQ: OXGN,
SSE:  OXGN)  announced  today  interim  results of a Phase I clinical  trial for
Combretastatin A4 Prodrug (CA4P).  The study is being conducted in collaboration
with the British Charity Organization,  The Cancer Research Campaign, (The CRC),
and was  presented at the  Angiogenesis  '99  conference in London by Dr. Gordon
Rustin, Director of the Department of Medical Oncology at Mount Vernon Hospital,
United Kingdom and a  co-investigator  on the study.  Dr. Rustin  presented data
showing that cancer patients treated with CA4P had  significantly  reduced blood
flow in a dose-dependent  manner to their tumors as measured by Nuclear Magnetic
Resonance Imaging (MRI). This study is the first demonstration in human clinical
trials of an  inhibitor  that blocks the flow of blood  within  tumor-associated
blood vessels.  The timing of the  blood-flow  shutdown in the patients was very
similar to the timing of the shutdown observed in preclinical  rodent studies of
CA4P.

These  clinical  results  demonstrate a proof of principle with regard to CA4P's
mode of action.

CA4P is an  anti-tumor  vascular  targeting  agent.  It is one of a new class of
anti-cancer  therapies  that act by attacking a tumor's blood  supply.  In vitro
experiments   have   demonstrated   CA4P's  ability  to  change  the  shape  and
permeability  of  endothelial   cells,   cells  that  line  all  blood  vessels,
particularly those cells that are in an actively  proliferating state not unlike
what is observed in tumor  vasculature.  It is these activities that are thought
to  constrict  tumor-associated  vessels  thereby  inhibiting  blood flow to the
tumor.  CA4P is different from angiogenic  inhibitors now in development in that
it attacks  pre-existent  tumor  vasculature.  This is an  activity  not seen in
anti-angiogenesis  inhibitors currently in clinical trials. CA4P is currently in
three Phase I clinical trials, one in the UK, and two in the US.

"These  interim  results show that we can  administer  CA4P to humans  safely at
doses that cause a significant  decrease in blood flow to tumors. In preclinical
models,  we have seen that CA4P  displays  similar  activities  as shown here in
human  clinical  trials,  extending to, and confirming its proof of principle in
man as well as in animal models," said Bjorn  Nordenvall,  Ph.D.,  MD, President
and CEO of OXiGENE.

Phase I studies are primarily  undertaken to evaluate a drug's safety.  Clinical
work presented here not only describes CA4P safety data, but due to CA4Ps unique
mechanism of action,  additionally  shows CA4P's blood flow reduction  activity,
i.e. proof of principle.  This study,  which began at the end of 1998,  examined
CA4P in  approximately  17 patients over a dose range of 5 to 88 mg/m(2).  Blood
flow  reduction  was  seen in all  patients  evaluated  above 52  mg/m(2).  Dose
escalation is on-going with no toxic side effects observed in patients to date.

Of interest,  pain at the site of the tumor was observed in patients  within two
hours of  administration  at doses  of CA4P  which  clearly  induce  blood  flow
reduction.  Tumor pain was not observed in patients  administered CA4P at levels
below that which induces blood flow reduction.

Interim  results  from one of the other two US Phase I studies will be presented
by Dr. Scot Remick, Ireland Cancer Center at Case Western Reserve University and
University  Hospitals  of  Cleveland,   on  November  3rd  at  the  Chemotherapy
Foundation Symposium in New York.

OXiGENE  is an  international  biopharmaceutical  company  developing  a diverse
portfolio of innovative products to combat cancer and other major diseases.  The
Company's  mission  is  to  develop  new  therapeutics  that  will  enhance  the
effectiveness of traditional  cancer treatments and to introduce  therapies that
attack cancer in new ways. OXiGENE has its international  corporate headquarters
in Stockholm,  Sweden and its United States  headquarters in Boston,  MA. Please
feel free to visit the Company's Website at:
WWW.OXIGENE.COM.

The Cancer  Research  Campaign (CRC) is the UK leading cancer charity and is the
European leader in anti-cancer drug development.  It funds around a third of all
research into cancer in the UK and is dedicated to bringing new  treatments  and
cures from the lab bench to the patient's bed side as quickly as possible.

Certain  statements  made  in this  press  release  related  to  clinical  trial
outcomes,   therapeutic  applications  and  outcomes,   governmental  approvals,
potential market size and  commercialization  are  forward-looking  and are made
pursuant to the safe harbor  provisions of the Securities  Litigation Reform Act
of 1995.  Such  statements  involve  risks  and  uncertainties  that may  differ
materially from those set forth in these statements.  In addition, the economic,
competitive,  governmental,  technological  and other factors  identified in the
Company's filings with the Securities and Exchange  Commission could affect such
results.

A copy of Dr. Rustin's  abstract and the Cancer Research  Campaign press release
is available  upon request.  Please call Matthew  Knight at Noonan/Russo,  (+1)
212-696-4455 Ext 271.