A ccelerating Statements in this presentation 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 19

Muzio L., Martino G., et al. (2007). Multifaceted Aspects of Inflammation in Multiple Sclerosis: The Role of Microglia . J Neuroimmunol 2007; 191(1 2): 39 44. Rolan, P., Hutchinson, M., and Johnson, K. Ibudilast: A Review of its Safety, Efficacy, and Pharmacology in Respiratory and Neurologic Diseases. Wang, F. et al. Spinal Macrophage Migration Inhibitory Factor Is a Maj or Contributor to Rodent Neuropathic Pain like Hypersensitivity .

Kreutzberg G. W. Microglia: A Sen sor for Pathological Events in the CNS. Trends Neurosci. 1996; 19(8): 312 8. Ledeboer A., Hutchinson M. R., Watkins L. R., and Johnson K. W. Ibudilast (AV411):A New Class Therapeutic Candidate for Neuropathic Pain and Opioid Withdrawal Syndromes . Mizuno, T et al. Neuroprotective role of phosphodiesterase inhibitor ibudilast on neuronal cell death induced by activated microglia .

Ibudilast in Relapsing Remitting Multiple Sclerosis: a Neuroprotectant? Neurology, Mar 30 2010. Fox, R. Primary Neuroprotection: the Holy Grail of Multiple Sclerosis Therapy. Neurology, Mar 30 2010. Kagitani Shimono K. and Mohri I. J Neuroinflammation. Anti inflammatory Therapy by Ibudilast, a Phosphodiesterase Inhibitor, in Demyelination of Twitcher, a Genetic Demyelination Model .

Investigator Led Development 55 MediciNova, Inc. 2012 Ibudilast (MN 166): Neurological Indications and Translational Record Indication Preclinical Validation Clinical Validation Comment MS + (EAE) + * MN 166 Cl 001 Progressive MS Phase 2b indicated Neuropathic Pain + (multiple models) + AV411 010 Phase 2b enabled Opioid Dependence (and Tolerance) + (multiple models) + * AV411 OWA (SOWS, Miosis) Enhanced Opioid Analgesia + (2 rat models) + * AV411 OWA (McGill PQ) Methamphetamine Relapse + (rat models) in progress Traumatic Brain Injury + (rat models) TBD 56 * = p 0.05, dose related certain endpoints MediciNova, Inc. 2012 Ibudilast References 57 Barkhof, F. et al.

Pail Rolan at Univ. of Adelaide, Australia; reduced headache index, acute medication (codeine) use and headache impact on Quality of Life (QOL); 8 week trial + follow up; n = 20 patients each at placebo vs. 80 mg/day of MN 166 Acquired rights to treatment of post traumatic brain injury (TBI) Led by the research of Daniel Barth, Ph.D., Professor of Neuroscience and Psychology at CU Boulder, ibudilast demonstrated significant efficacy in a model of post TBI anxiety, one of the most common disorders caused by TBI.

Potential first in class, once or twice daily oral well tolerated drug with established endpoints. Draft protocols, costs and trial operations completed. MediciNova, Inc. 2012 Recent validation of CNS action in opioid withdrawal analgesia Ongoing Methamphetamine interaction Phase 1b Opioid self administration Phase 2a initiating Ongoing Phase 2a Medication Overuse Headache Pain trial Randomized, double blind, placebo controlled, investigator initiated (Dr.

Potential first in class, once or twice daily oral well tolerated drugs with established endpoints. Draft protocols, costs, and trial operations completed. MediciNova, Inc. 2012 Design: Two center (Australian), Phase 1b/2a, randomized, double blind, placebo controlled, parallel group study. Subjects: Patients, aged 18 to 75 years, with painful diabetic peripheral neuropathy (DPN) or complex regional pain syndrome (CRPS) of 6 months duration and screening VAS score 4 cm on a 10 cm scale 29 subjects: 19 active, 10 placebo Dosing: 20 mg BID (n=4), 20 mg TID (n=4), 40 mg BID (n=11) AV411 (ibudilast) added to patients standard medication regimen for DM and pain Study objectives: Establish safety/tolerability PK in intended patient population Explore potential efficacy endpoints 52 Diabetic Peripheral Neuropathic Pain Study: AV411 010 MediciNova, Inc. 2012 Reduction Observed in Opioid Usage 53 20 15 10 5 0 5 10 15 20 5 0 5 10 15 20 25 Mean Median Placebo AV411 MediciNova, Inc. 2012 54 Greater % of Responders Above Ibudilast Plasma Thresholds Plasma Ibudilast Parameter VAS Responder % AUC 0 24h 1000 nghr/mL 60% 1000 nghr/mL 25% C max 60 ng/mL 64% 60 ng/mL 14% C min 27 ng/mL 55% 27 ng/mL 29% Next Steps for Neuropathic Pain: Twelve week Phase 2 DPN trial.

Safety Profile: 89% (264 of 297) of subjects completed the first 12 months of the study 82.5% (245 of 297) of subjects completed the full 24 months of the study Adverse effects reported more frequently in MN 166 treated than placebo treated subjects: GI effects depression Multiple Sclerosis Clinical Study: MN 166 CL 001 48 MediciNova, Inc. 2012 49 P Value: 0.04 P Value: 0.035 MN 166 CL 001 Study Results P Value: 0.026 P Value: 0.004 P Value: 0.0 9 P Value: 0.0 8 Note: P values listed on this slide compare placebo group to 60mg/day group of MN 166 Indicative of Potential Neuroprotective Effect: Reduced brain volume loss Reduced conversion of acute lesions to persistent black holes Sustained disability progression was significantly less likely (~50%) Acute Clinical Benefit: Prolong time to relapse (by 127 days.) Annualized relapse rate Protocol Defined Primary Endpoint (Surrogate Endpoint): No significant reduction in the cumulative number of active (gadolinium enhancing (T1) and non enhancing new/enlarging (T2)) lesions on cranial MRI scans over 12 months of treatment was observed Positive trends were observed in volume of gadolinium enhancing (T1) lesions 50 MN 166 CL 001: Efficacy Review (One Year) Endpoints Indicative of Disease Modifying Effect (Chronic aspects of MS): Endpoints Relating to Acute Clinical Benefit: : Statistically significant Brain Volume Loss Dose (mg/d) Dose (mg/d) Dose (mg/d) Dose (mg/d) Dose (mg/d) Progression to PBH EDSS progression Time to 1st Relapse % Relapse Free After One Year MediciNova, Inc. 2012 MediciNova, Inc. 2012 51 Secondary Progressive MS: Subset Analysis Treatment Group (patient n) Subset of MS Patients: Placebo 30 mg/day Low Dose Group 60 mg/day High Dose Group % Brain Volume Change % Brain Volume Change Magnitude of Effect % Brain Volume Change Magnitude of Effect RRMS 1.2 (81) 1.1 (69) 8% less 0.8 (75) 33% less SPMS 1.0 (3) 0.7 (4) 30% less 0.4 (2) 60% less Next Steps for Progressive MS: Two year Phase 2 in Progressive MS month 12 data.

MN 221 (bedoradrine) Administered with Nebulized Albuterol in Dogs (Poster #147) Pharmacokinetics and Pharmacodynamics of MN 221 , a Novel Highly Selective Beta2 Adrenergic Agonist for Treatment of Acute Chronic Obstructive Pulmonary Disease (Poster #685) MN 221 CL 010: Intravenous MN 221, a Novel, Highly Selective Beta2 Adrenergic Receptor Agonist, Improves Lung Function in Stable Moderate to Severe Chronic Obstructive Pulmonary Disease (COPD) Patients (Poster #686) Posters available on MediciNova website at www.medicinova.com MN 221: CHEST Posters (Nov. 2010) 46 Ibudilast (MN 166): Ibudilast (MN 166): Data from Completed Trials Data from Completed Trials Multiple Sclerosis Program Multiple Sclerosis Program Neuropathic Pain Program Neuropathic Pain Program Drug Abuse/Addiction Program Drug Abuse/Addiction Program Safety Review Safety Review MediciNova, Inc. 2012 Placebo controlled, Randomized, Double blind Phase II Study: Year 1 Placebo, 30 mg/day, 60mg/day Year 2 30 mg/day, 60mg/day 297 patients (~100 patients/group) 25 sites in Serbia, Ukraine, Belarus, Bulgaria and Romania Key Inclusion Criteria: Males or females aged 18 to 55 years, with relapsing remitting (RR) and/or secondary progressive (SP) Multiple Sclerosis with continued relapses; One MRI scan taken two weeks prior to treatment start using a standardized MRI protocol with at least one Gd enhancing lesion; An Expanded Disability Status Scale (EDSS) score of 5.5 or less at the screening and baseline visits.

According to interviews of emergency room physicians, less selective injectable beta agonists such as epinephrine and terbutaline are not commonly used to treat acute asthma. The main reason they are not used more often is due to safety concerns, particularly cardiovascular side effects. MN 221 Safety Review 44 MediciNova, Inc. 2012 45 Human Adrenergic Receptor Selectivity Test Drug 1 IC 50 (M) 2 IC 50 (M) 2 Adrenoceptor Selectivity (IC 50 for 1 / IC 50 for 2 ) Levalbuterol 7.40E 06 1.40E 06 5.3 Albuterol 9.40E 06 1.60E 06 5.9 Terbutaline 6.00E 05 6.50E 06 9.2 MN 221 5.90E 06 1.40E 07 42.4 MediciNova, Inc. 2012 MN 221 CL 004: Evaluation of MN 221 (bedoradrine), a Novel, Highly Selective Beta2 Adrenergic Receptor Agonist in Mild to Moderate Asthma via Intravenous Infusion (Poster #145) MN 221 CL 005: Comparison of Administration Rates of MN 221 (bedoradrine), a Novel, Highly Selective Beta2 Receptor Agonist in Patients with Stable Moderate to Severe Asthma (Poster #143) MN 221 CL 006: Reduced Hospital Admission and Improved Pulmonary Function Following Intravenous MN 221 (bedoradrine), a Novel Highly Selective Beta2 Adrenergic Receptor Agonist, Adjunctive to Standard of Care in Severe Acute Exacerbation of Asthma (Poster #144) Pharmacokinetic (PK) and Pharmacodynamic (PD) Modeling and Simulation Support the Novelty of MN 221, a Highly Selective Beta2 Adrenergic Agonist for Treatment of Acute Asthma (Poster #146) MN 221 FY08 065: Cardiovascular Effects of i.v.

Change in Respiratory Rate Mean AUC (0 3) Population: EE; Performing Sites* MediciNova, Inc. 2012 43 MN 221 Clinical Results Improved Lung Function at Different Dosing Levels: COPD Patients MediciNova, Inc. 2012 MediciNova has preclinical data and clinical data which demonstrates the safety of MN 221. In summary, we have not seen clinically significant safety concerns with MN 221 and it has been tested in over 400 subjects to date.

MN 221 CL 007: Phase 2 Trial Efficacy Endpoints for FEV 1 119% Improvement 225% Improvement 68% Improvement 172% Improvement 81% Improvement 39% Improvement AUC of Change in FEV 1 (mL) EE Population, MM; Performing Sites* 41 p=0.065 p=0.043 p=0.050 p=0.066 MediciNova, Inc. 2012 42 Baseline: 69.35% MN 221 CL 007: Phase 2 Trial Improvements in Clinical Symptoms Change in Dyspnea Index Score AUC (0 3) Mean Population: EE; Performing Sites* p=0.055 *EE = Efficacy Evaluable Population; Performing Sites analysis includes patients from sites completing more than 2 patients during the trial and for which all efficacy measurements were available.

SOC + placebo MediciNova, Inc. 2012 MN 221 CL 007: Phase 2 Trial Subject Populations Placebo MN 221 Enrolled subjects 86 89 Safety population 84 83 EE population 83 81 Performing Sites population 70 72 Definitions of Note: EE = Efficacy Evaluable Population Performing Sites Population: analysis includes patients from sites completing more than 2 patients during the trial and for which all efficacy measurements were available. 40 MediciNova, Inc. 2012 *EE = Efficacy Evaluable Population; MM= Mixed Model was used for statistical analysis of efficacy parameters; Performing Sites analysis includes patients from sites completing more than 2 patients during the trial and for which all efficacy measurements were available.

Announced Results from CL 007 Trial Q2 2. Announce Results from CL 012 Trial Q3 3. Announce Phase 2 Trial(s) for Ibudilast Q4 4. End of Phase 2 Meeting with FDA Q4 Raised ~$18M in 2011 Cash Runway into Q2, 2013 Translational Medicine Clinical development expertise Strong international presence, especially Japan Large and small pharma/biotech experience Addendum Addendum Data from Completed Trials Data from Completed Trials MN 221 MN 221 Ibudilast (MN 166/AV411) Ibudilast (MN 166/AV411) MN 221: MN 221: Data from Completed Trials Data from Completed Trials Asthma Program: Asthma Program: CL 004, CL 005, CL 006, CL 007 CL 004, CL 005, CL 006, CL 007 COPD Program: COPD Program: CL 010 CL 010 Safety Review Safety Review MediciNova, Inc. 2012 MN 221 Clinical Development Acute Asthma Program: Multiple doses tested at infusion length of 15min, 1hr, and 2hr Completed 2 trials in asthmatics with stable disease CL 004 (23 patients) CL 005 (17 patients) Completed Phase 2a trial in patients with AEA in the ED CL 006 (29 patients) Completed Phase 2b study in patients with AEA in ED CL 007 (175 pts.) End of Phase 2 Meeting with FDA Scheduled for October 22 COPD Program: Multiple doses tested at 1 hour infusion Completed 1 trial in COPD patients with stable disease CL 010 (48 patients) Preparing to initiate multi dose trial in patients with stable COPD CL 012 (20 patients) Efficacy and Safety data will also be very useful in further development of MN 221 for acute asthma 37 nd MediciNova, Inc. 2012 MN 221 Clinical Results Improved Lung Function at Different Dosing Levels: Stable Asthmatics 38 CL 004: Stable Mild/Moderate Asthmatics CL 005: Stable Moderate/Severe Asthmatics MediciNova, Inc. 2012 MN 221 Clinical Results Improved Lung Function and Clinical Outcome Above and Beyond Standard of Care (SOC) Mean change in FEV 1 from baseline was 5.3% higher in the MN 221 dose groups versus the placebo group 39 CL 006: Patients Suffering from Acute Exacerbation of Asthma in Emergency Department 8.7% 14.0% 0% 2% 4% 6% 8% 10% 12% 14% 16% SOC + Placebo MN 221 + SOC Mean FEV 1 Change from Baseline (Hour 5) MN 221 (all dose groups) + SOC vs.

Michael Gennaro, CPA, MBA Michael Gennaro, CPA, MBA Chief Financial Officer 37 Partner at FLG Partners, Sylantro Systems, Inverse Network Technology, Novell, Piiceon, Verticom Management Team with Global Experience MediciNova, Inc. 2012 33 Financial Resources: $11.0 million in cash cash equivalents as of 3/31/2012 Including $10 million raised through equity sale and non dilutive funding by Kissei $7.5 million raised in private stock sale to Kissei Pharmaceutical Co., Ltd. $2.5 million additional non dilutive R D funding from Kissei ~18.3 million shares outstanding on an as converted basis Cash Runway into 2013 Financial Overview MediciNova, Inc. 2012 34 MediciNova Corporate Summary *Anticipated completion dates based on current projections 1.

Kirk Johnson, Ph.D. Chief Scientific Officer 21 Avigen, Genesoft Pharmaceuticals, Chiron Corporation (Novartis San Francisco) Masatsune Okajima, CMA Masatsune Okajima, CMA VP, Head of Japanese Office 19 Daiwa Securities SMBC, Sumitomo Capital Securities, Sumitomo Bank Kazuko Matsuda, M.D., Ph.D., MPH Kazuko Matsuda, M.D., Ph.D., MPH Chief Medical Officer 20 Assistant Professor USC, Keck School of Medicine; Children s Hospital Los Angeles.

Advance to Phase 2b Proof of Concept in MS and/or Pain 2. Provide competitive economics for first in class therapy 3. Could be collaboration through: i. Pharma partner ii. Project financing iii. Shared risk with competitive CRO agreement Consider Investigator sponsored Neurological Trials in Focus Areas 30 Strategy for Ibudilast s Development MediciNova, Inc. 2012 31 Patent/Commercial Overview Exp. 2018 Exp. 2025 Exp. 2027 Exp. 2027 Exp. 2026 Exp. 2029 Exp. 2027 Exp. 2028 Key: Method of Use Composition of Matter MS Neuropathic Pain MIF Inh. screen Addiction Progressive MS AV1013 2 Generation Analogs Acute Sub chronic Pain MOH Pain Anxiety Traumatic Brain Injury/PTSD Ibudilast + Immunomodulator for MS AV1013 Enantiomer Issued or Allowed Pending nd MediciNova, Inc. 2012 32 Leadership Years Experience Background Yuichi Iwaki, MD, PhD Yuichi Iwaki, MD, PhD CEO President 35 Professor at USC, formerly Professor at University of Pittsburgh; Advisor to JAFCO, Tanabe Michael Coffee Michael Coffee Chief Business Officer 26 Avigen, Amarin Corp., Elan Pharmaceuticals, N.A., Athena Neurosciences Kirk Johnson, Ph.D.

Adelaide Phase 2a Trial Methamphetamine Addiction UCLA Phase 1b Trial Ibudilast (MN 166) Program Ibudilast (MN 166) Program 1Q 2012 2Q 2012 3Q 2012 4Q 2012 MediciNova, Inc. 2012 Sustain NIDA sponsored Drug Addiction Development Potential for Phase 2 POC Trial support Potential for Gov t and MS Society consortium funding of Phase 2 Progressive MS POC Trial Collaboration with Development Partner: 1.

Strategic Partnership Discussions Ongoing MN 221 Next Steps 26 nd Ibudilast Ibudilast (MN 166/AV 411): (MN 166/AV 411): Progressive Progressive Multiple Multiple Sclerosis Sclerosis Neuropathic Neuropathic Pain Pain Addiction Addiction MediciNova, Inc. 2012 28 Ibudilast (MN 166) Oral administration Safe and well tolerated Approved in Japan/Korea over 3.2M patient exposures 420 subjects treated with ibudilast Dosing up to 100 mg daily doses Mechanism(s) of action primarily: Inhibition of macrophage Migration Inhibitor Factor (MIF) PDE 4,10 inhibition Neurotrophic action and attenuation of glial cell activation Clinical Safety Preliminary Efficacy Established Phase 2 multiple sclerosis proof of concept study Indicators of dose related neuroprotective efficacy validated Phase 1 dosing to 100 mg/d Phase 1b/2a trial in diabetic neuropathic pain completed Phase 1b/2a clinical trial in opioid withdrawal analgesia completed Ibudilast (MN 166) Overview MediciNova, Inc. 2012 Ibudilast (MN 166) Program: Ongoing and Future Development 29 Pending Grant / Pending Grant / Partner Funding Partner Funding Progressive MS / Neuropathic Pain Phase 2b Trial (POC) Opioid Dependence Columbia University Phase 2a Trial Medication Overuse Headache Pain Univ.

Complete COPD Phase 1b/2a Clinical Trial Important Safety data of multiple infusions Validation of hand held spirometry device 2. Market Analysis Collaborate with leading market research firm to quantify the value of reduced hospital admissions Quantify the value of reduced ER visits 3. End of Phase 2 Meeting with the FDA Scheduled for Monday, October 22 , 2012 Confirm endpoints and trial design for pivotal program; Review overall development plan 4.

(We Exclusivity in Europe is 10 years for first approval of new chemical entities In addition, MediciNova has filed multiple patent applications related to MN 221 which if granted, could protect MN 221 until at least 2030 25 MediciNova, Inc. 2012 anticipate this along with pediatric exclusivity and ANDA review time will give us at least 7.0 years of exclusivity) MediciNova, Inc. 2012 1.

Secondary objectives include pharmacokinetics, preliminary efficacy of repeated administration of MN 221 in COPD patients, and testing of a simple, hand held digital FEV 1 Peak Flow monitoring device. Top line results expected 3Q, 2012 MN 221 CL 012: Ongoing Phase 1b/2a COPD Trial 22 ~ MediciNova, Inc. 2012 1,200 g MN 221: Market Opportunity Patent Summary Next Steps 24 MN 221 Market Opportunity* Market Acute Asthma COPD Exacerbations US $375 400 million $380 420 million Europe $200 300 million $200 300 million Rest of World $150 250 million $150 250 million Worldwide MN 221 Sales Potential $725 950 million $730 970 million Combined Worldwide MN 221 Sales Potential $1.5 1.9 Billion Source: Physician interviews, team analysis *Prices in today s dollars, do not reflect any price increases which may be implemented; Assumes a conservative price per dose target ~ $550/dose MediciNova, Inc. 2012 MN 221 Patent Summary The U.S. patent for MN 221 has composition of matter and method of use claims and is set to expire no earlier than February 2017 Corresponding composition of matter patents in various other countries U.S. patent expiration does not include Waxman Hatch patent term restoration (industry average = 4.5 years) Waxman Hatch grants 5 years of exclusivity from approval in the U.S.

Establish Safety No Serious Adverse Events related to MN 221; 400 subjects exposed 3. Affirm POC and guides Trial Design for Pivotal Trials Endpoint modifications, Larger n , reduced variability with protocol and standard of care treatments, and clinical assessment of improvement at end of treatment 4. Develop a basis for a successful End of Phase 2 Meeting with the FDA Meeting Scheduled for October 22, 2012 MN 221 CL 007: Phase 2 Trial MN 221 Met its Goals of the Phase 2 Program 21 MediciNova, Inc. 2012 Randomized, placebo controlled, double blind, Phase 1b/2a clinical trial 20 stable moderate to severe COPD patients (30% FEV 1 80%) Two treatment groups infusions of MN 221 every 12/24 hours (15 pts.) over 4 days Placebo (5 pts.) Primary objective is to determine the safety and tolerability of MN 221 administered multiple times over several days in COPD patients who may also have co morbidities and concomitant medications common in this population.

A higher percentage of patients in the placebo group returned to the ER within 7 days MN 221 CL 007: Phase 2 Trial Pharmacoeconomic Benefits MediciNova, Inc. 2012 1. Assess Efficacy adjunctive to SOC treatment MN 221 group showed improvement over placebo group in measurements of lung function MN 221 showed a notable reduction in hospital admissions in performing sites and a notable reduction in ER return visits 2.

MediciNova, Inc. 2012 Time (Hours) 0 1 2 3 4 5 6+ Current Model Wait See New Model Early Intervention Of MN 221 MN 221: Potential New Model for Treating AEA in the ER SOC Repeat SOC Repeat SOC Repeat SOC Discharge SOC MN 221 + SOC Admit Discharge Admit Repeat SOC Patient Arrives Patient Arrives ER cost per hour per patient is expensive The longer the patient is in the ER the greater the probability of hospital admission MediciNova, Inc. 2012 MN 221 CL 007: Efficacy Endpoints for FEV 1 16 AUC of Change in FEV 1 (mL) EE Population, MM* 56% Improvement 100% Improvement p=0.066 33% Improvement 54% Improvement 250% Improvement 100% Improvement p=0.065 p=0.046 EE = Efficacy Evaluable Population; MM= Mixed Model was used for statistical analysis of efficacy parameters MediciNova, Inc. 2012 MN 221 Placebo MN 221 CL 007: Change in FEV 1 at Hour 1 17 100% Improvement 160% Improvement Change in FEV 1 (mL) Population: EE MN 221 Placebo MN 221 CL 007: Change in FEV 1 at Hour 1 100% Improvement 160% Improvement Change in FEV 1 (mL) Population: EE Hour 1 Mean Hour 1 Median 18 Baseline: 64.57% Baseline: 68.64% Change in Dyspnea Index Score Mean AUC(0 3) Population: EE Change in Respiratory Rate Mean AUC (0 3) Population: EE* MN 221 CL 007: Improvements in Clinical Symptoms Units are dyspnea index score (0 10 scale; 5=severe, 3=moderate, 2=slight) Units are breaths/min. EE = Efficacy Evaluable Population p=0.039 MediciNova, Inc. 2012 19 FEV 1 Improvement Placebo (%) MN 221 (%) P value 200mL 37 / 77 (48%) 48 / 78 (62%) 0.09 10% pred. 25 / 77 (32%) 34 / 78 (44%) 0.15 Analysis of High Responders: FEV 1 Improvement at Any Time Point during the Treatment Period EE population MN 221 CL 007: Analysis of High Responders EE = Efficacy Evaluable Population MediciNova, Inc. 2012 20 The addition of MN 221 resulted in a 17% reduction in hospital admissions *EE = Efficacy Evaluable Population; Performing Sites analysis includes patients from sites completing more than 2 patients during the trial and for which all efficacy measurements were available.

Assess Efficacy adjunctive to SOC treatment 2. Establish Safety 3. Validate Proof of concept (POC) and Determine Pivotal Trial Design 4. Develop a basis for a successful End of Phase 2 Meeting with the FDA MN 221 CL 007: Phase 2 Trial Goals 13 MediciNova, Inc. 2012 Randomized, placebo controlled, double blind, multi center Phase 2 clinical trial 175 patients enrolled with acute exacerbations of asthma at multiple US ED sites 164 patients in the Efficacy Evaluable (EE) population; some patients early terminated from the study Two treatment groups (1:1 randomization) 1,200 g infusion of MN 221 over 1hr + Standard of Care (SOC) Placebo infusion + Standard of Care Primary Efficacy Endpoint was AUC of change in FEV 1 hours 0 3 Important Secondary Endpoints include: Improvements in FEV 1 at other time points Clinical improvement outcomes: Dyspnea score, Respiratory Rate Pharmacoeconomic benefits: Hospitalization admissions and Return ER visits* MN 221 CL 007: Phase 2 Trial Study Design 14 *As captured in the seven day patient follow up; not official secondary endpoint per protocol.

Primary Endpoint should be FEV 1 improvement at Hour 1 (delta) or AUC through Hour 2 2. Reduced variability (FEV 1 methodology, control for standard of care medications between study arms) 3. Larger sample size 4. Simpler Protocol for ease of enrollment 5. Include standardized clinical assessment at end of treatment period as secondary endpoint MN 221 for Treatment of AEA: Pivotal Trial Development Strategy 12 *Tentative based on outcome of End of Phase 2 meeting with the FDA MediciNova, Inc. 2012 nd Goals of the Phase 2b Clinical Trial: 1.

EDs annually 1 st line therapy in ED: Patients receive SOC, many while in the waiting room 2 nd line therapy in ED: Patients who do not initially respond continue receiving SOC Large Market Opportunity for MN 221 1,900,000 1,900,000 Hospitalization: Patients who do not respond to SOC are eventually hospitalized COST ~ $6,477/patient Patients who respond to initial therapy and are discharged Patients who eventually respond to standard therapy and are discharged MediciNova, Inc. 2012 st nd MediciNova, Inc. 2012 End of Phase 2 Meeting with the FDA Scheduled for Monday, October 22 nd , 2012 Pivotal Trial Design Modifications from Phase 2 Clinical Trial Based on these Core Principles*: 1.

Improved Efficacy Route of administration (IV vs. inhalation) Facilitates bronchodilation and onset clinical improvement 2. Improved Safety High selectivity for receptor versus Partial agonist for receptor* 3. Reduced Health Care Expenses Reduction in hospitalizations; Return ER visits 10 MN 221: A New Approach to Treating Acute Exacerbations (Asthma COPD) * receptors are primarily responsible for cardiovascular stimulation MediciNova, Inc. 2012 adrenergic receptor agonist selective *Source: Weber, Silverman et al, American Journal of Medicine, Volume 113; pp 371 11 Acute Asthma Treatment Flow in Emergency Departments (EDs) in the U.S. 965,000 935,000 935,000 410,000 525,000 525,000 Input: 1,900,000 patients with acute exacerbations of asthma present at U.S.

COPD exacerbations are associated with a significant increase in mortality, hospitalization and healthcare utilization. 1.5 million hospital emergency department visits 765,000 hospitalizations 119,000 deaths COPD Exacerbations COPD patients are generally more ill than asthmatics with overall higher hospitalizations and mortality. COPD Discharged Hospitalized 72% 28% 1,900 Asthma 52% 48% 1,500 Hospitalization rates amongst Asthma and COPD patients Thousands Source: CDC, CDC COPD surveillance in U.S.; US Census; American Lung Association website For COPD pts. with anemia; for pts. w/o anemia the stay is ~5.8 days at a cost of ~$25K MediciNova, Inc. 2012 Average length of stay 7.4 days Average cost ~$32,000* MN 221: A novel, highly Potential advantages over current therapy: 1.

(~560,000 in UK/Spain/Germany/France/Italy) Average length of stay for asthma hospitalization is 3.3 days (U.S.) Average cost for asthma hospitalization is $6,477 Roughly 50% of subjects do not initially respond to standard care Current Standard of Care (SOC): Inhaled beta agonists, inhaled anticholinergics, and IV or oral corticosteroids Current Treatments are limited by Bronchoconstriction (Insufficient air flow due to inflammation and airway constriction prevents inhaled drug uptake in the lungs) and Mucus Plug Formation (Persistent airflow limitation due to mucus secretion MediciNova, Inc. 2012 *Source: National Center for Health Statistics / CDC, WHO website, Core Health indicators , 2007 National Hospital Discharge Survey, IMS Health s Disease and Condition Benchmarks PharMetrics Integrated Database, 1/2007 12/2008 9 A COPD exacerbation is a sustained worsening of the patient's condition, from the stable state and beyond normal day to day variations, that is acute in onset.

Internal development of compound towards commercialization in North America 2. Seek partnership for further development of compound Business Model: Return On Investment MediciNova, Inc. 2012 Product Candidates Preclinical Phase 1 Phase 2 Phase 3 Bedoradrine Sulfate (MN 221) Program Acute Exacerbations of Asthma Exacerbations of COPD Preterm Labor Ibudilast (MN 166) Program Progressive Multiple Sclerosis Neuropathic Pain Drug Addiction Non Core Programs (Various stage of development available for out licensing) Asthma, IC, Cancer, GAD, OAB, Thrombosis Commercially Attractive Diversified Portfolio 5 MediciNova, Inc. 2012 MediciNova, Inc. 2012 6 Significant Milestones Anticipated completion dates based on current projections Tentative based on availability of non dilutive financing Milestone: Receive Use Patent for Ibudilast in Progressive MS Patients Results from Phase 2b MN 221 CL 007 Acute Asthma Trial Top line Results from Phase 1b Multi Dose Trial in COPD Plan to Announce Phase 2 Clinical Program for Ibudilast (Addiction) Plan to Announce Phase 2 Clinical Program for Ibudilast (MS/Pain) End of Phase 2 Meeting with FDA for MN 221 Development Commence Pivotal MN 221 Trial MediciNova, Inc. 2012 1Q, 2012 2Q, 2012 4Q, 2012 3Q, 2012 3Q, 2012 4Q, 2012* 1H, 2013 Timeline*: MN 221: Acute Exacerbations of Asthma Exacerbations of COPD 8 Acute Exacerbations of Asthma (AEA) Definition: Long lasting and severe asthma episode that is not responsive to initial bronchodilator or corticosteroid therapy Market Opportunity*: Approximately 1.9 million annual emergency room visits in the U.S. ~500,000 annual hospitalizations in U.S.

MediciNova, Inc. 2012 4 In License: Novel, small molecule product candidates with significant clinical or preclinical data packages and attractive market opportunities Conduct Proof of Concept Clinical Trials: Conduct Phase 1 and Phase 2 clinical trials to demonstrate safety and efficacy of compound Two Pathways After Phase 2 (Proof of Concept): 1.

You are cautioned not to place undue reliance on these forward looking statements, which speak only as of July 3, 2012. MediciNova disclaims any intent or obligation to revise or update these forward looking statements. Forward Looking Statements MediciNova, Inc. 2012 MediciNova Overview: Founded in September 2000 Headquartered in San Diego, CA, with an office in Tokyo, Japan Dual listing on NasdaqGM as MNOV and Osaka Securities Exchange as 4875 $37.5 million market cap (NasdaqGM) as of 6/26/2012 (aggregate value of 18.3 million shares outstanding of common + preferred on an as converted basis) In Licensed Clinical Stage Compounds: Unique access to differentiated, potentially high value assets primarily from Japanese alliances (Kissei, Kyorin, Mitsubishi Tanabe Pharma, Meiji) New Approaches to Treat Serious Medical Conditions: Bedoradrine Sulfate ( MN 221 ): Intravenous (IV) treatment for acute exacerbations of asthma and chronic obstructive pulmonary disease (COPD) Ibudilast ( MN 166 ): Oral treatment for progressive multiple sclerosis, neuropathic pain, and drug addiction 3 Corporate Overview: MediciNova, Inc.

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. Actual results or events may differ materially from those expressed or implied in any forward looking statements due to various factors, including the risks and uncertainties inherent in clinical trials and product development and commercialization, such as the uncertainty in results of clinical trials for product candidates, 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, 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 FDA; MediciNova s failure to execute strategic plans or strategies successfully; MediciNova s collaborations with third parties; MediciNova s ability to realize the anticipated strategic and financial benefits from its acquisition of Avigen, Inc., to integrate the two ibudilast development programs and to pursue discussions with potential partners to secure a strategic collaboration to advance the clinical development of the combined development program; the availability of funds to complete product development plans and MediciNova s ability to raise sufficient capital when needed, or at all; MediciNova s ability to comply with the covenants in its financing agreements; intellectual property or contract rights; and the other risks and uncertainties described in MediciNova s filings with the Securities and Exchange Commission, including MediciNova s 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.

the global development and commercialization of innovative pharmaceuticals Exhibit 99.1 A ccelerating Statements in this presentation 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 statements regarding MediciNova s clinical trials supporting the safety and efficacy of its product candidates and the potential novelty of such product candidates as treatments for disease, plans and objectives for clinical trials and product development, strategies, future performance, expectations, assumptions, financial condition, liquidity and capital resources.

Anesthesiology. 2011 Feb 2. Neuropharmacology 46:404, 2004. Expert Opinion Pharmacotherapy 2009. Expert Opin. Investig. Drugs 2007; 16: 935 950. J Neuroinflammation. 2005; 2(1): 10.