Oxigene launches follow-on offering of 6 million shares via SG Cowen

By Ronda Fears

Nashville, Dec. 1 - Oxigene, Inc. launched a follow-on offering of 6 million shares of common stock to be sold off the shelf via bookrunner SG Cowen & Co. LLC.

Lazard Capital Markets LLC is co-manager.

There is a greenshoe of 900,000 shares available.

Waltham, Mass.-based Oxigene engages in the research and development of products for the treatment of cancer and certain eye diseases. Its CA4P compound targets the inner areas of tumors. The company is developing OXi4503 that targets blood vessels at the central core of tumors and appears to affect the vessels and tumor cells at the periphery.

CA4P is being tested in five human clinical trials in oncology, and one human clinical trial in ophthalmology. It is in phase 1/2 combination clinical trial with Carboplatin and Paclitaxel in advanced ovarian cancer. It is also in a phase 2 single agent trial in advanced and metastatic anaplastic thyroid carcinoma and a phase 1/2 combination trial in newly diagnosed anaplastic thyroid carcinoma.

Oxigene also is undertaking a phase 1/2 combination trial with radiotherapy in head and neck, lung and prostate cancers, as well as a phase 1b combination trial with a monoclonal antibody in colorectal cancer.

Its anti-tumor agent, OXi6197, reduces blood flow in newly formed tumor vasculature. The company is conducting a phase 2 single agent trial to treat a form of thyroid cancer, anaplastic thyroid carcinoma and a phase 2 study for ATC to evaluate the mean survival time of patients. It is undertaking a phase 1b study to evaluate the combination of CA4P with the radiolabeled anti-CEA monoclonal antibody A5B7. Additionally, the company has phase 1/2 clinical trial for the non-life threatening ocular disease, wet age-related macular degeneration.

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