UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT
                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): October 24, 2001



                                  OXIGENE, INC.
             (Exact name of registrant as specified in its charter)


   Delaware                    0-21990                         13-3679168
---------------              -------------                 --------------------
(State or other              (Commission                   (IRS Employer
jurisdiction of               File Number)                  Identification No.)
incorporation)



                               321 Arsenal Street
                               ------------------
                         Watertown, Massachusetts 02472
               ---------------------------------------------------
               (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code: (617) 673-7800


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Item 5. Other Events and Regulation FD Disclosure.

On October 24, 2001, the Registrant  issued a press release,  a copy of which is
attached  hereto  as  Exhibit  99.1,   announcing  that  it  has  regained  full
development  and  licensing  rights to its  Combretastatin  family  of  vascular
targeting  agents,  following a decision  by the  Registrant  and  Bristol-Myers
Squibb to conclude their research  collaboration  and licensing  agreement.  The
Registrant also announced that it would end further clinical  development of its
benzamide-based  product,  Declopramide,  to focus its resources  exclusively on
vascular targeting.

Item 7. Financial Statements and Exhibits.

(c)  The following exhibits are filed with this report:

Exhibit Number                              Description
--------------                              -----------

    99.1              Press release of Registrant dated October 24, 2001.

    99.2              Transcript of conference call conducted by Registrant on
                      October 25, 2001.


Item 9. Regulation FD Disclosure.

On October 25, 2001,  the  Registrant  held a conference  call (the  "Conference
Call") to discuss Third Quarter results and to comment on the acquisition of the
full development and licensing rights to its  Combretastatin  family of vascular
targeting  agents  following the  conclusion of the research  collaboration  and
licensing  agreement with  Bristol-Myers  Squibb. A transcript of the Conference
Call is attached hereto as Exhibit 99.2.


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SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                 OXIGNENE, INC.
                                  (Registrant)



Date: October 29, 2001            By: /s/  Frederick Driscoll
                                      -----------------------
                                  Name:    Frederick Driscoll
                                  Title:   President of Operations and Finance



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                                  EXHIBIT INDEX

Exhibit Number                            Description
--------------                            -----------

   99.1              Press release of Registrant dated October 24, 2001.

   99.2              Transcript of conference call conducted by Registrant on
                     October 25, 2001.


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