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NIH Funds UCLA Phase 2 Study Of MediciNova's MN-166 In Treating Drug Addiction

MediciNova's development efforts in progressive MS and chronic neuropathic pain is also founded upon both preclinical and clinical data indicating anti-neuroinflammatory and neuroprotective actions, which may be beneficial in those conditions.

About the MN-166 Phase 1b Safety Study

UCLA is currently conducting a Phase 1b study. As previously reported, 12 methamphetamine-dependent participants who are not looking for treatment will complete a sequence of randomized crossover between placebo and low and high MN-166 dosing regimens over nearly a month time frame in a hospital study unit. At defined intervals, the subjects will receive controlled methamphetamine exposures. The primary objective is to assess the safety and tolerability of MN-166 up to 100 mg daily oral doses alone and in combination with methamphetamine administration. Secondary outcomes will include measures of dependence and cognition.

About UCLA Department of Family Medicine/Center for Behavioral and Addiction Medicine

The mission of the Center for Behavioral and Addiction Medicine is to advance the prevention and treatment of chronic illnesses, especially in communities with healthcare disparities. The Center integrates scientific and technological advancements from the best in academia with the strength of communities in its effort to conduct research, to engage health service partners in the use of innovative treatment options, and to disseminate prevention tools.

The work focuses on two of today's most severe chronic health problems, addiction and HIV/AIDS. We are conducting research to find effective interventions for these diseases, whether they are new medications, behavioral therapies, or a combination of the two. We are providing direct patient services in underserved communities. We are also training the next generation of physicians to diagnose and treat these illnesses in their practices.

For more information, please visit: http://fm.mednet.ucla.edu/CHPDP/chpdp.asp

About MediciNova

MediciNova, Inc. is a publicly traded biopharmaceutical company founded upon acquiring and developing novel, small-molecule therapeutics for the treatment of diseases with unmet need with a commercial focus on the U.S. market. Through strategic alliances primarily with Japanese pharmaceutical companies, MediciNova holds rights to a diversified portfolio of clinical and preclinical product candidates, each of which MediciNova believes has a well-characterized and differentiated therapeutic profile, attractive commercial potential, and patent coverage of commercially adequate scope. MediciNova's pipeline includes six clinical-stage compounds for the treatment of acute exacerbations of asthma, chronic obstructive pulmonary disease exacerbations, multiple sclerosis and other neurologic conditions, asthma, interstitial cystitis, solid tumor cancers, generalized anxiety disorder, preterm labor and urinary incontinence and two preclinical-stage compounds for the treatment of thrombotic disorders. MediciNova's current strategy is to focus on its two prioritized product candidates, MN-221, for the treatment of acute exacerbations of asthma and chronic obstructive pulmonary disease exacerbations, and ibudilast (MN-166) for neurological disorders. MN-221 is involved in clinical trials under U.S. INDs. MN-166 is being developed in Phase 1b/2 trials for pain and drug addiction, largely through Investigator INDs and outside funding. Proof-of-concept Phase 2b trial(s) in Progressive MS are pending. MediciNova is engaged in strategic partnering and consortium funding discussions to support further development of both the MN-221 and ibudilast/MN-166 programs. Additionally, MediciNova will seek to monetize opportunistically its other pipeline candidates. For more information on MediciNova, Inc., please visit www.medicinova.com .

The MediciNova, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3135

Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding expectations for the ibudilast/MN-166 program, including development of ibudilast/MN-166 for certain indications and expectations on future progress in the development of our drug candidates, expected timing of clinical trial results and any implication as to the results of our development, partnering and funding efforts or that the company will have the ability to execute on its priorities. These forward-looking statements may be preceded by, followed by or otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," "projects," "can," "could," "may," "will," "would," or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements, include, but are not limited to, risks and uncertainties inherent in clinical trials including product development and commercialization risks, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks associated with the reliance on third parties to sponsor and fund clinical trials, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials and the timing, cost and design of future clinical trials and research activities, the timing of expected filings with the regulatory authorities, MediciNova's collaborations with third parties, the availability of funds to complete product development plans and MediciNova's ability to raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2011 and its subsequent periodic reports on Forms 10-Q and 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.

CONTACT: MEDIA CONTACT:
         Enrique Rivero, Senior Media Relations Officer
         (310) 794-2273
         erivero@mednet.ucla.edu

         INVESTOR CONTACT:
         Mark Johnson
         Investor Relations
         MediciNova, Inc.
         (858) 373-1300
         johnson@medicinova.com
         
         MEDIA CONTACT:
         Stephanie Ashe
         Continuum Health Communications
         650-245-0425
         sashe@continuumhealthcom.com

MediciNova, Inc. Logo

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