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8-K - FORM 8-K - Oncotelic Therapeutics, Inc. | b88059e8vk.htm |
EXHIBIT 99.1
OXiGENE Announces Changes to Board of Directors
SOUTH SAN FRANCISCO, Calif., September 9, 2011 OXiGENE, Inc. (Nasdaq:OXGN), a clinical-stage
biopharmaceutical company developing novel therapeutics to treat cancer and eye diseases, today
announced changes to the Board of Directors, including the appointment of Gerald McMahon, Ph.D. and
the impending retirement of William Shiebler and Mark Kessel, each of whom having chosen to serve the remainder
of their current terms on the Board of Directors but having chosen not to stand for reelection at OXiGENEs
upcoming 2011 Annual Meeting of the Stockholders to be held in the Fall.
As the company adopts a smaller and more streamlined structure, we have likewise consolidated our
Board of Directors. Bill Shiebler and Mark Kessel have made great contributions during their
tenure and we are tremendously grateful for their service, said OXiGENE Chief Executive Officer
Peter J. Langecker, M.D., Ph.D. Bill Shiebler has served on the board for nearly 10 years including
the past two years as Chairman. Mark Kessel was elected to the Board in 2008 as one of two nominees of
Symphony Capital, the other being Dr. Alastair Wood, who will continue to serve as Symphonys nominee.
Looking to the future, we are delighted to welcome Jerry McMahon to OXiGENEs Board of Directors.
Jerrys vast operational expertise, both as a scientist and an executive in the pharmaceutical and
biotechnology industries, will complement the composition of OXiGENEs Board of Directors in a
vital area as we continue to advance the development of our vascular disrupting agents. We look
forward to his contributions.
Dr. McMahon, age 57, is Senior Vice President and Oncology Innovative Medicines Unit Leader of Medimmune LLC, a
wholly owned subsidiary of Astra Zeneca PLC, a position which he has held since 2010. Dr. McMahon served as the Chief Executive Officer of Poniard Pharmaceuticals, Inc.
from May 2004 to February 2010 and as the Chairman of the Board of Directors of Poniard from May 2004 to May 2011. He was a Venture Partner at Bay City Capital, LLC from
February 2010 to October 2010. Dr. McMahon has spent more than 20 years as a business executive in the healthcare and biotech industries where he held various roles at Pfizer,
Pharmacia, and Sandoz. In addition, Dr. McMahon was employed 10 years at SUGEN where he was instrumental to build the
business leading to the successful discovery, development, and regulatory approvals of novel oncology drugs.
Since his role as President of SUGEN in 2003, he served as a Venture Partner with Bay City Capital and also has
served as CEO and in various board of director roles for public and private healthcare companies. Dr. McMahon
holds a B.S. in biology and earned a Ph.D. in 1980 in biochemistry from Rensselaer Polytechnic Institute and held
post-graduate appointments at Tufts Medical School in Boston and the Massachusetts Institute of Technology in
Cambridge, Massachusetts.
About OXiGENE, Inc.
OXiGENE is a clinical-stage biotechnology company developing novel small-molecule therapeutics to
treat cancer and eye diseases. The Companys major focus is the clinical advancement of drug
candidates that selectively disrupt abnormal blood vessels associated with solid tumor progression
and visual impairment. OXiGENE is dedicated to leveraging its intellectual property position and
therapeutic development expertise to bring life saving and enhancing medicines to patients.
Safe Harbor Statement
This press release contains forward-looking statements that reflect managements current views
regarding OXiGENEs continued product development operations and the value and potential of
OXiGENEs product candidates in development may turn out to be wrong. Forward-looking statements
can be affected by inaccurate assumptions OXiGENE might make or by known or unknown risks and
uncertainties, including, but not limited to, the outcome of clinical studies and the availability
of additional financing to continue development of ZYBRESTAT. Additional information concerning
factors that could cause actual results to materially differ from those in the forward-looking
statements is contained in OXiGENEs reports to the Securities and Exchange Commission, including
OXiGENEs reports on Form 10-K, 10-Q and 8-K. However, OXiGENE undertakes no obligation to publicly
update forward-looking statements, whether because of new information, future events or otherwise.
Please refer to our Annual Report on Form 10-K for the fiscal year ended December 31, 2010.
Investor and Media Contact:
Investor Relations
ir@oxigene.com
650-635-7000
ir@oxigene.com
650-635-7000