<ARTICLE>                     5

<LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
         EXTRACTED FROM THE UNAUDITED CONSOLIDATED FINANCIAL
         STATEMENT OF OXiGENE, INC. FOR THE QUARTER ENDED MARCH 31,
         1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
         FINANCIAL STATEMENTS.

</LEGEND>
<PERIOD-TYPE>                                  3-MOS
<FISCAL-YEAR-END>                              DEC-31-1996
<PERIOD-START>                                 JAN-01-1996
<PERIOD-END>                                   MAR-31-1996
<CASH>                                         10,529
<SECURITIES>                                   0
<RECEIVABLES>                                  0
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               10,760
<PP&E>                                         66
<DEPRECIATION>                                 (28)
<TOTAL-ASSETS>                                 10,808
<CURRENT-LIABILITIES>                          1,484
<BONDS>                                        0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       70
<OTHER-SE>                                     9,254
<TOTAL-LIABILITY-AND-EQUITY>                   10,808
<SALES>                                        0
<TOTAL-REVENUES>                               129
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               1,642
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                             0
<INCOME-PRETAX>                                (1,513)
<INCOME-TAX>                                   0
<INCOME-CONTINUING>                            (1,513)
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   (1,513)
<EPS-PRIMARY>                                  (0.22)
<EPS-DILUTED>                                  (0.22)