MediciNova Prices 5M Share Offering @$3.50/Share

MediciNova, Inc.,

announced today the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $3.50 per share. The gross proceeds to MediciNova from this offering are expected to be $17.5 million, before deducting the underwriting discount and other estimated offering expenses. All of the shares of common stock to be sold in the offering are being offered by MediciNova. In addition, MediciNova has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock. The offering is expected to close on or about August 24, 2015, subject to customary closing conditions. MediciNova intends to use the net proceeds received from this offering to fund continued research and development efforts, including with respect to its MN-166 (ibudilast) and MN-001 (tipelukast) product candidates, and for general corporate purposes, including working capital. Ladenburg Thalmann is acting as sole book-running manager of the offering, and Mizuho Securities and SMBC Nikko are acting as co-managers of the offering. The