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MediciNova Announces Proposed Public Offering Of Common Stock And Warrants

SAN DIEGO, March 23, 2011 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company traded on the Nasdaq Global Market (Nasdaq:MNOV) and the Jasdaq Market of the Osaka Securities Exchange (4875), today announced that it intends to offer, subject to market and other conditions, units consisting of shares of its common stock and common stock purchase warrants in a firm-commitment underwritten public offering. There can be no assurance as to whether the offering may be completed or as to the actual size or terms of the offering. 

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE Amex:LTS), is acting as the sole underwriter in connection with the offering.

The securities described above are being offered by MediciNova pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, copies of the preliminary prospectus supplement, the final prospectus supplement and the accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commission web site at http://www.sec.gov, or from Ladenburg Thalmann & Co. Inc., 520 Madison Avenue, 9th floor, New York, NY 10022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of MediciNova nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MediciNova

MediciNova, Inc. is a publicly traded biopharmaceutical company focused upon acquiring and developing novel, small-molecule therapeutics for the treatment of serious diseases with a commercial focus on the U.S. market.

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