August 09, 2007: 05:05 PM EST

SAN DIEGO, Aug. 9, 2007 (PRIME NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company that is publicly traded on the Nasdaq Global Market (Nasdaq:MNOV) and the Hercules Market of the Osaka Securities Exchange (Code Number: 4875), today announced financial results for the second quarter ended June 30, 2007.

A detailed discussion of financial results and product development programs can be found in MediciNova's Quarterly Report on Form 10-Q for the quarter ended June 30, 2007, which was filed August 9, 2007 and is available through investors.medicinova.com/sec.cfm.

Highlights of the Quarter

The positive results, reported in March 2007, from the first year
of a two-year Phase II clinical trial of MN-166, a novel, oral
treatment for multiple sclerosis, have been accepted for
presentation at the 23rd Congress of the European Committee for
Treatment and Research in Multiple Sclerosis (ECTRIMS) to be held
in October 2007. The one-year results showed both neuroprotective
and anti-inflammatory benefits, signifying the potential to
reduce relapses and to halt or slow disease progression.

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