U.S. DRUGMAKER ESTABLISHES JAPANESE SUBSIDIARY

MediciNova has announced it has established a wholly owned subsidiary, MediciNova Japan, in Tokyo. The purpose of this new subsidiary is to strengthen business development and investor and public relations activities in Japan and other Asian countries, according to the company.

The company currently has four ongoing partnerships with Japanese pharmaceutical companies. The company intends to maintain these collaborations and expand its partnering activities in this market. The subsidiary will be listed on the Hercules Market of the Osaka Securities Exchange, and it intends to broaden its investor outreach activities in Japan and throughout Asia.

MediciNova is a U.S.-based biopharmaceutical company. The company's pipeline, which includes eight compounds in clinical testing, targets a variety of medical conditions including asthma, multiple sclerosis, status asthmaticus, interstitial cystitis, cancer, generalized anxiety disorder, preterm labor, urinary incontinence and thrombotic disorders.