SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


                       PURSUANT TO SECTION 13 OR 15(D) OF
                     THE SECURITIES AND EXCHANGE ACT OF 1934

                        Date of Report: December 16, 1999

                        (Date of earliest event reported)


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

          Delaware                   000-21990                  13-3679168
- ----------------------------      ----------------        ----------------------
(State or other jurisdiction      (Commission File            (IRS Employer
     of incorporation)                 Number)            Identification Number)



One Copley Place, Suite 602, Boston, Massachusetts               02116
- --------------------------------------------------              ----------
(Address of principal executive offices)                        (Zip Code)



Registrant's telephone number, including area code:  (617) 536-9500



Item 5.  Other Materially Important Events

     On December 16, 1999, the Registrant issued a press release, a copy of
which is attached hereto as Exhibit 99.1, announcing that the Company and
Bristol-Myers Squibb Company have entered into a research and licensing
agreement with respect to combretastatin anti-tumor agents.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)  Exhibits.

              99.1  Press release of the Registrant, dated December 16, 1999.



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

Date:  December 16, 1999                     OXiGENE, INC.
                                            (Registrant)


                                            By:  /s/ Bo Haglund
                                                 -------------------------------
                                                 Bo Haglund
                                                 Chief Financial Officer



                                  EXHIBIT INDEX


Exhibit

   99.1  Press release of the Registrant, dated December 16, 1999.