Main Story - OXiGENE (OXGN) - pgs. 1-23
Macro Market Commentary - "Safety line" - pgs. 24-26
BSR Coverage Update - pgs. 27-37
BSR Model Portfolio Update - pgs. 38-40

Welcome to the July 2007 issue of Biotech Monthly. This month's Main Story initiates coverage on OXiGENE (OXGN), a promising oncology company with an interesting way of attacking tumors. Those familiar with the oncology space know well the concept of anti-angiogenic drugs such as Genentech's (DNA) Avastin. Avastin is a Vascular Targeting Agent, or a VTA. OXiGENE's drug candidates also affect tumor vasculature, but they are classified as Vascular Disrupting Agents, or VDAs.

Our Main Story this month explains the difference between VTAs and VDAs, shares how we think VDAs will find a place in the oncologist's armory, and outlines how we think OXiGENE will be able to get their first-in-class VDA Zybrestat over the FDA approval goal line. It's an interesting story worth your while to check out.

In this issue of Biotech Monthly, we also update our coverage on:

Adolor (ADLR )
Altus Pharma (ALTU)
BioMarin (BMRN)
Corcept Therapeutics (CORT)
Dendreon (DNDN)
Indevus (IDEV)
Nabi Biopharma (NABI)
ViRexx (REX)
Repros Therapeutics (RPRX)
Targeted Genetics(TGEN)
ZymoGenetics (ZGEN)