<ARTICLE>              5
<LEGEND>
                      THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
                      EXTRACTED FROM THE UNAUDITED CONSOLIDATED FINANCIAL
                      STATEMENT OF OXiGENE, INC. FOR THE SIX MONTH PERIOD
                      ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY
                      BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>          1,000
       
                                 

<PERIOD-TYPE>                       6-MOS

<FISCAL-YEAR-END>                  DEC-31-1996
<PERIOD-END>                       JUN-30-1996
<CASH>                             10,710
<SECURITIES>                       0
<RECEIVABLES>                      0
<ALLOWANCES>                       0
<INVENTORY>                        0
<CURRENT-ASSETS>                   10,888
<PP&E>                             73
<DEPRECIATION>                     (31)
<TOTAL-ASSETS>                     10,940
<CURRENT-LIABILITIES>              823
<BONDS>                            0 
<PREFERRED-MANDATORY>              0
<PREFERRED>                        0
<COMMON>                           72
<OTHER-SE>                         10,045
<TOTAL-LIABILITY-AND-EQUITY>       10,940
<SALES>                            0
<TOTAL-REVENUES>                   254
<CGS>                              0
<TOTAL-COSTS>                      0
<OTHER-EXPENSES>                   3,665
<LOSS-PROVISION>                   0
<INTEREST-EXPENSE>                 0
<INCOME-PRETAX>                    (3,411)
<INCOME-TAX>                       0
<INCOME-CONTINUING>                (3,411)
<DISCONTINUED>                     0
<EXTRAORDINARY>                    0
<CHANGES>                          0
<NET-INCOME>                       (3,411)
<EPS-PRIMARY>                      (0.49)
<EPS-DILUTED>                      (0.49)