<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENT OF OXiGENE, INC. FOR THE SIX MONTHS ENDED JUNE 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> JUN-30-1997 <CASH> 42,206 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 43,080 <PP&E> 218 <DEPRECIATION> (70) <TOTAL-ASSETS> 43,308 <CURRENT-LIABILITIES> 915 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 99 <OTHER-SE> 42,294 <TOTAL-LIABILITY-AND-EQUITY> 43,308 <SALES> 0 <TOTAL-REVENUES> 1,083 <CGS> 0 <TOTAL-COSTS> 5,186 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> (4,103) <INCOME-TAX> 0 <INCOME-CONTINUING> (4,103) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (4,103) <EPS-PRIMARY> (0.43) <EPS-DILUTED> (0.43)