Three new phenoxazinone antibiotics, named bezerramycins A–C (1–3), were isolated from a Streptomyces griseus strain (HKI 0545, DSM 41823) together with the known metabolite elloxazinone B (4). Their structures were elucidated by one‐ and two‐dimensional NMR techniques (1H, 13C, HSQC, 1H‐1H COSY and HMBC) as well as mass spectrometry. One of the isolated phenoxazinones (bezerramycin C) features a nitrile moiety, which is scarce in natural products. All compounds were evaluated for their antiproliferative and cytotoxic activities. Those featuring a hydroxymethyl substituent at C‐8 were found to exhibit moderate antiproliferative properties against vascular endothelium cells (HUVEC) (GI50 = 14.5–20 μM). A biosynthetic model for the isolated compounds is discussed.