# MediciNova

MediciNova is an Asset Manager based in La Jolla, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** La Jolla, United States
- **Region:** North America
- **Address:** La Jolla, CA, United States
- **Founded:** 2000
- **Assets under management:** Undisclosed
- **Website:** medicinova.com
- **LinkedIn:** https://www.linkedin.com/company/medicinova-inc.

## Regulatory record

- **Reports private funds:** No

## About

MediciNova was incorporated in 2000 by co-founders Yuichi Iwaki and Kazuko Matsuda, with a cross-border structure anchored in La Jolla, California, and Tokyo, Japan. The firm went public on the Nasdaq in 2005 and later listed on the Jasdaq market in Japan, giving it access to both US and Japanese capital markets. Iwaki, previously an assistant professor at USC's Keck School of Medicine, built the company to bridge Japanese pharmaceutical discovery with US clinical development infrastructure. The firm acquires late-stage clinical assets, primarily from Japanese pharmaceutical companies, and funds their advancement through US and global regulatory pathways. Its lead candidate, MN-166 (ibudilast), has been studied in amyotrophic lateral sclerosis, progressive multiple sclerosis, and substance-use disorders. A second asset, MN-001 (tipelukast), targets idiopathic pulmonary fibrosis and nonalcoholic steatohepatitis (per the firm's official communications, 2024). The portfolio also contains MN-221 (bedoradrine) for acute asthma exacerbations and earlier-stage preclinical programs. MediciNova does not operate discovery labs — it licenses compounds that already carry phase II data from partners including Kyorin Pharmaceutical. As of December 2024, the firm held $44.7 million in cash and investments, funding operations without relying on partnership-dependent milestone payments (per its SEC filings, year-end 2024). The company maintains a lean, academic-affiliated team with its principal office in La Jolla and a subsidiary in Tokyo. In May 2024, MediciNova announced that a Department of Defense-funded trial evaluating MN-166 for Gulf War Illness would continue following a positive futility analysis (per the firm, May 2024). MediciNova's structure as a public biotech without a controlling pharmaceutical partner or founder-family owner creates an unusual governance dynamic — executive compensation and equity dilution sit alongside clinical milestones as allocator considerations. The dual-listing on Nasdaq and Jasdaq provides two liquidity venues, while the Japanese-sourced pipeline distinguishes it from domestically focused rare-disease peers.

## Sectors

- Biotech

## Offices

- Tokyo, Japan

## People

- Yuichi Iwaki — President and Chief Executive Officer

## Questions

### How does MediciNova source its drug candidates?

MediciNova licenses clinical-stage assets from Japanese pharmaceutical companies, notably Kyorin Pharmaceutical, avoiding in-house discovery. The model relies on acquiring compounds that have already demonstrated phase II safety and efficacy data in Japan, then advancing them through US and global regulatory filings.

### Is MediciNova's financial runway sufficient to reach its next clinical milestones?

As of December 2024, MediciNova reported $44.7 million in cash and investments on its balance sheet. The company operates a lean cost structure and benefits from non-dilutive funding sources including a Department of Defense grant for the Gulf War Illness trial, though it remains a pre-revenue biotech with ongoing burn.

### What is MN-001 (tipelukast), and where does it stand in development?

MN-001 is an oral leukotriene receptor antagonist and phosphodiesterase inhibitor in late-stage development for idiopathic pulmonary fibrosis and NASH. It has completed phase II/III trials in IPF in Japan and has received fast-track designation in the US.

### Why is MediciNova listed on both Nasdaq and the Tokyo Stock Exchange's Jasdaq market?

The dual-listing mirrors the firm's cross-border structure: corporate headquarters in La Jolla, California, and a subsidiary in Tokyo. It provides access to both US and Japanese investors, and reflects the Japanese origin of its licensed drug portfolio.

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Last updated: 2026-06-03T20:00:00.000Z

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