MediciNova History

MediciNova, Inc. was founded in September 2000 with $10 million in Series A seed funding from Tanabe Seiyaku Co., Ltd. (Osaka). MediciNova was established in San Diego as a biopharmaceutical company focused on acquiring and accelerating the global development and commercialization of innovative pharmaceutical products. The Company's strategy is to build a strong product portfolio through alliances with North American, European and Japanese biotechnology and pharmaceutical companies. MediciNova licensed its first development candidates in 2002. MN-001 was licensed from Kyorin Pharmaceutical Co., Ltd. (Tokyo) and MN-029 from Angiogene Pharmaceuticals Ltd. (Oxford, UK). In 2004, the Company added $70.2M in Series B and C rounds of financing and licensed four more development candidates:  MN-221 from Kissei Pharmaceutical Co., Ltd. (Matsumoto City, Japan), MN-305 and MN-246 from Mitsubishi Pharma Corp. (Osaka) and MN-166 from Kyorin Pharmaceutical Co., Ltd. (Tokyo). In February 2005, MediciNova became the first U.S. company to be publicly traded in Japan, raising $113.2 million (net) on the Osaka (Hercules) Securities Exchange (code: 4875).  In December 2006, MediciNova listed on the NASDAQ Global Market under the ticker symbol MNOV.  In January 2007, MediciNova completed an offering of 1 million shares at $12 per share, raising approximately $11.2 million (net) in proceeds for the company.

Timeline

September 2000
  • MediciNova founded in San Diego and incorporated in the State of Delaware
August 2001
  • MediciNova raised $10 MM in a Series A private placement
March 2002
  • MN-001 licensed from Kyorin Pharmaceutical Co., Ltd.
July 2002
  • MN-029 licensed from Angiogene Pharmaceuticals Ltd.
February 2004
  • MN-221 licensed from Kissei Pharmaceutical Co., Ltd.
May 2004
  • MediciNova raised $26.8MM in a Series B private placement
  • MN-001 IND filed for Asthma
June 2004
  • MN-029 IND filed and accepted by the FDA
  • MN-305 licensed from Mitsubishi Pharma Corp
September 2004
  • MediciNova raised $43.4MM in Series C private placement
  • MN-029 first Phase I study began
October 2004
  • MN-166 licensed from Kyorin Pharmaceutical Co., Ltd.
December 2004
  • MN-246 licensed from Mitsubishi Pharma Corp
January 2005
  • MN-001 IND accepted for Asthma by the FDA
  • MN-221 IND filed and accepted by the FDA
February 2005
  • MediciNova raised $107MM in IPO on the Osaka Securities Exchange
March 2005
  • MediciNova’s underwriter exercised stock over allotment resulting in a total of $113.2MM proceeds for the company
  • MN-001 Asthma phase II study began
  • MN-001 Interstitial Cystitis (IC) IND filed and accepted by the FDA
  • MN-221 Phase I began
  • MN-305 Generalized Anxiety Disorder Phase II/III began
May 2005
  • MN-001 IC Phase II began
June 2005
  • MN-029 second Cancer Phase I study began
September 2005
  • MN-001 Asthma Phase II enrollment completed
December 2005
  • MediciNova announced positive results in Phase II trial of MN-001 in asthma
January 2006
  • MediciNova announced receipt of Notices of Allowances for 2 key patent applications for MN-001
February 2006
  • MN-166 Multiple sclerosis Phase II enrollment completed
  • MN-305 Generalized Anxiety Disorder Phase II/III enrollment completed
March 2006
  • Initiated Phase I study of MN-246 as oral treatment for urinary incontinence
June 2006
  • Presented MN-029 Phase I safety and tumor blood flow reduction results at ASCO meeting
  • Reported results from a 416-patient Phase II/III Generalized Anxiety Disorder trial of MN-305
October 2006
  • Completed one-for-ten reverse stock split to facilitate the Nasdaq listing
  • Acquired two novel antithrombotic agents (MN-447 and MN-462) from Meiji Seika Kaisha, Ltd.
November 2006
  • Initiated Phase III program for MN-001 in bronchial asthma
December 2006
  • MediciNova listed on the Nasdaq Global Market under the symbol "MNOV"
  • Launched Phase II clinical program for MN-221 in status asthmaticus
January 2007
  • Announced results of a Phase II/III trial of MN-001 in 305 moderate-severe interstitial cystitis patients
  • Initiated a Phase II study of MN-305 in insomnia
February 2007
  • Closed a 1 million share U.S. public offering at $12/share for aggregate net proceeds of approximately $10.5 million
March 2007
  • Announced positive clinical results of a Phase II trial of MN-166 in 297 multilpe sclerosis patients
June 2007
  • Announced a new strategic initiative

Medicinova