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2 Sep 2011

OXiGENE to Restructure to Focus Clinical Resources on Earlier Stage Development Programs

Biopharmaceutical firm OXiGENE, Inc. decides to restructure in an to focus resources on its most promising early-stage clinical programs.

Clinical-stage biopharmaceutical company OXiGENE, Inc. will restructure in an effort to focus resources on its most promising early-stage clinical programs and to further cut costs.


The company is cutting 11 full-time equivalent employees, or approximately 61% of its staff, and will seek to reduce the amount of space it currently rents to conduct its operations. The company anticipates recording a total charge of approximately $1.2 million, primarily associated with personnel-related termination costs, and expects to reduce expenses by approximately $2.0 million annually.


OXiGENE plans to continue its investigator-sponsored Phase I trial of OXi4503 in patients with AML or myelodysplastic syndrome (MDS), and

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