Unlike traditional anti-angiogenic drugs that prevent new vessel formation, OXiGENE’s VDAs targeted existing immature blood vessels within tumors. These agents compromise the tumor's core vasculature, leading to extensive necrosis (cell death) within the center of the tumor.

On June 20, 2016, OXiGENE officially became Mateon Therapeutics (formerly NASDAQ: OXGN, now MATN).

A second-generation VDA focused on hematologic malignancies; initiated Phase 1b/2 trials in 2015. Myopic Macular Degeneration