<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)