SAN DIEGO, Jan. 16, 2012 (GLOBE NEWSWIRE) -- MediciNova, Inc., a
biopharmaceutical company that is publicly traded on the Nasdaq Global
Market (Nasdaq:MNOV) and the Jasdaq Market of the Osaka Securities
Exchange (4875), and the University of Colorado (CU) Boulder disclosed
a license agreement for the use of ibudilast (MN-166/AV411) for the
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.

Dr. Barth and colleague, Krista Rodgers, discovered that a short course
of systemic ibudilast administered over a month after concussion injury
reversed post-TBI anxiety in rats for a 3 month measurement period
following treatment. "While we had initially observed impressive
reduction of anxiety behavior when ibudilast was administered just
prior to head injury, we were, frankly, surprised that a few days of
treatment so long after injury could provide notable efficacy for up to
three months thereafter. This finding suggests that post-traumatic
anxiety in humans may have a strong physiological basis in
neuro-inflammation and that the ongoing neuropathy may be treatable
with drugs like ibudilast that attenuate and perhaps interrupt the
brain's inflammatory response," commented Dr. Barth.

Traumatic brain injury (TBI) is a major public health concern, with
approximately 1.7 million people in the United States alone sustaining
a TBI each year. The long-term consequences of TBI include
neuropsychiatric disorders, of which anxiety disorders are the most
prevalent. Little is known about the neural mechanisms of
post-traumatic stress disorders (PTSD) including anxiety and effective
pharmacotherapy options for individuals suffering such a disorder are
limited. Dr. Barth and colleagues have hypothesized that unchecked
activation of glial cells in the brain may contribute to some of the
post-TBI disorders. Ibudilast is a selective inhibitor of
macrophage-migration inhibitory factor (MIF) and certain
phosphodiesterases with well-recognized activity as an attenuator of
glial cell activation.

MediciNova is developing ibudilast (MN-166) for several neurological
disorders. Recognizing both the unmet need and potential strategic fit
with the University of Colorado, Yuichi Iwaki, M.D., Ph.D., President
and CEO of MediciNova commented, "We are excited to participate in
research aimed at better understanding the traumatic brain injury
disease process and in further exploring the potential for MN-166 as a
pharmacotherapy."

About Ibudilast

Ibudilast has been used in asthma and post-stroke disorders in Japan
for around 20 years. MediciNova has demonstrated utility of ibudilast
in neurological disorders at higher doses with encouraging outcomes in
company-sponsored clinical trials in multiple sclerosis (MS) and
neuropathic pain. Collaborative trial planning with drug addiction
investigators at organizations like Columbia/NYSPI and UCLA has led to
National Institute on Drug Abuse (NIDA)-supported clinical
investigations with ibudilast for both opioid and methamphetamine
addiction. An investigator-sponsored trial in chronic medication
overuse headache (MOH) pain is also ongoing in Australia. Corporate
priorities include implementation of Phase 2 proof-of-concept trials in
Progressive MS and/or Neuropathic Pain.

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/AV411). Each drug candidate is involved in clinical
trials under U.S. and Investigator INDs. MediciNova is engaged in
strategic partnering discussions to support further development of the
MN-221 and Ibudilast programs. Additionally, MediciNova will seek to
monetize opportunistically its other pipeline candidates. For more
information on MediciNova, Inc., please visit www.medicinova.com