Full Press Release Details
MediciNova Announces the Start of a Phase II Clinical Trial with Novel Anti-Anxiety Agent
Specialty Pharmaceutical Company Embarks on Ambitious Clinical Program
SAN DIEGO, Calif. March 1, 2005 MediciNova, Inc., a
specialty pharmaceutical company that is publicly traded on the Hercules Market of the Osaka Securities Exchange, today announced the enrollment of patients in a Phase II clinical study with MN-305, a novel anti-anxiety agent that was licensed in
2004 from Mitsubishi Pharma Corporation of Osaka, Japan. MN-305 is described as a serotonin type 1A receptor agonist, and based on preclinical and earlier clinical studies, appears to hold the potential for rapid onset of anti-anxiety effect
combined with excellent tolerability.
Under the licensing agreement with
Mitsubishi, MediciNova obtained exclusive worldwide rights, except for Japan, China, Taiwan, South Korea and other parts of Southeast Asia, to develop and commercialize MN-305. MediciNova has chosen to initiate the clinical development of
MN-305 for generalized anxiety disorder, which, according to the National Institute of Mental Health, afflicts more than 4 million adult Americans.
This study signals the beginning of a very ambitious clinical development undertaking for MediciNova during 2005, commented Richard Gammans, Ph.D., Executive
Vice President, Clinical Research at MediciNova. We plan to enroll 400 patients at 15 sites in the U.S. in this study with MN-305, and before the end of this year we hope to initiate four additional Phase II clinical studies with other
compounds in the Company s portfolio, including potential new treatments for asthma, multiple sclerosis, interstitial cystitis, and premature labor.
MediciNova, Inc. is a publicly traded specialty pharmaceutical company focused on accelerating the global development and commercialization of innovative pharmaceutical
products. MediciNova s pipeline, which includes several compounds in clinical testing, targets a variety of prevalent medical conditions, including premature labor, cancer, asthma, multiple sclerosis and anxiety disorders. For more information
on MediciNova Inc., please visit www.medicinova.com.
This press release may
contain forward looking statements as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the
Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Company based on management s experience and perception of historical trends,
current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the
Company, which may cause the Company s actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include the risk factors detailed in MediciNova s Securities and Exchange Commission