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Vista Partners Updates Coverage on MediciNova Inc. (NASDAQ: MNOV); Maintains $8.50 Price Target
Date:10/21/2008

LOS ANGELES, Oct. 21 /PRNewswire/ -- Vista Partners announced today that it has updated coverage on MediciNova Inc. (Nasdaq: MNOV) and maintains its $8.50 price. "MediciNova recently announced positive preliminary data on MN-221. MN-221, if approved, will garner a sizable percentage of the asthma market potentially resulting in hundreds of millions of dollars in sales for MediciNova. Medicinova's other clinical candidate, MN-166, is intended for the treatment of multiple sclerosis (MS) and MS is a multi-billion dollar market. As the Company announces additional positive data the value of Medicinova will increase," said Ross Silver, Director of Research for Vista Partners. For more information and to download the FREE report, please visit the Vista Partners website at http://www.vistap.com and click on the download research icon.

About Vista Partners:

Vista Partners provides independent, equity research to institutional and individual investors, with a focus on publicly traded small capitalization companies. With offices in Los Angeles and San Francisco, Vista Partners is one of the fastest growing independently owned equity research firms. Vista Partners professional staff has backgrounds in finance, corporate communications and investment banking. More information is available at http://www.vistap.com.

About MediciNova, Inc.:

MediciNova, Inc. is a publicly-traded biopharmaceutical company focused on acquiring and developing novel, small-molecule therapeutics for the treatment of diseases with unmet medical need with a specific 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 assets having claims of commercially adequate scope. MediciNova's pipeline includes six clinical-stage compounds for the treatment of status asthmaticus, multiple sclerosis, 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 its resources on the development and commercialization of two prioritized assets in its development pipeline: MN-221 for the treatment of status asthmaticus, an acute, severe asthma attack, and MN-166 for the treatment of multiple sclerosis. MediciNova will seek to monetize its other product candidates at key value inflection points. For more information on MediciNova, Inc., please visit http://www.medicinova.com.

Contact:

Vista Partners LLC

Jorden Lampos

(310) 744-5268

info@vistap.com

http://www.vistap.com


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SOURCE Vista Partners
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