SAN DIEGO, Sept. 2, 2011 (GLOBE NEWSWIRE) -- MediciNova, Inc., a biopharmaceutical company that is publicly traded on the Nasdaq Global Market (Nasdaq:MNOV) and the Jasdaq Market of the Osaka Securities Exchange (Code Number: 4875), today announced the appointments of Kazuko Matsuda, M.D., Ph.D, MPH as Chief Medical Officer and Michael Gennaro CPA, MBA as Chief Financial Officer.
Dr. Kazuko Matsuda has served as Vice President of Clinical Development for MediciNova since 2010 and is responsible for all clinical development. Previously, Dr. Matsuda was a clinical advisor to MediciNova for its MN-221 and MN-166 development programs. Prior to joining MediciNova, Dr. Matsuda was assistant professor, University of Southern California, Keck School of Medicine after an appointment at the Children's Hospital Los Angeles. Dr. Matsuda commenced her residency in internal medicine/pediatrics at Michigan State University and completed a pediatric residency at Loma Linda University. She is a board certified pediatrician in both the United States and Japan. Dr. Matsuda received her M.D. and Ph.D. from Sapporo Medical School and MPH from Harvard University, School of Public Health.
Michael Gennaro is a certified public accountant in New Jersey and California with over 25 years service as Chief Financial Officer and/or Vice President of Finance for a variety of public and private technology related firms. His experience includes all areas of finance and administration. Mr. Gennaro started his career in the New Jersey office of the international CPA firm of Arthur Young & Co. He holds an MBA from Rutgers Graduate School of Business and a BS in mathematics from Rutgers University.
"I am very pleased MediciNova has been able to add both Dr. Matsuda and Mr. Gennaro to our senior management team. They complete our senior management team and position us very well to take advantage of our valuable product development opportunities," commented Yuichi Iwaki M.D., Ph.D, MediciNova Chief Executive Officer. Dr. Iwaki added "Dr. Matsuda's leadership has significantly increased the pace of our MN-221 clinical program and we look forward to her contribution as we expand our development for MN-221 in both asthma and chronic obstructive pulmonary disorder." Dr. Iwaki further commented "Mr. Gennaro's extensive financial experience will be of great value to us as we further our development collaborations in Japan, China and globally."
About MediciNova
MediciNova, Inc. is a publicly traded biopharmaceutical company founded upon acquiring and developing novel, small-molecule therapeutics for the treatment of serious diseases with a commercial 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 coverage of commercially adequate scope. MediciNova's pipeline includes six clinical-stage compounds for the treatment of acute exacerbations of asthma, chronic obstructive pulmonary disease exacerbations, multiple sclerosis and other neurologic conditions, 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 on its two prioritized product candidates, MN-221, for the treatment of acute exacerbations of asthma and chronic obstructive pulmonary disease exacerbations, and Ibudilast (MN-166/AV411). Each drug candidate is involved in clinical trials under U.S. and Investigator INDs. MediciNova is engaged in strategic partnering discussions to support further development of the MN-221 and Ibudilast programs. Additionally, MediciNova will seek to monetize opportunistically its other pipeline candidates. For more information on MediciNova, Inc., please visit www.MediciNova.com.
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Statements in this press release that are not historical in nature constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our portfolio of clinical and preclinical product candidates. These forward-looking statements may be preceded by, followed by or otherwise include the words "believes," "expects," "anticipates," "intends," "estimates," "projects," "can," "could," "may," "will," "would," or similar expressions. These forward-looking statements involve a number of risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Factors that may cause actual results or events to differ materially from those expressed or implied by these forward-looking statements, include, but are not limited to, the risks and uncertainties inherent in clinical trials, product development and commercialization, such as the uncertainty in results of clinical trials for product candidates, the uncertainty of whether the results of clinical trials will be predictive of results in later stages of product development, the risk of delays or failure to obtain or maintain regulatory approval, risks regarding intellectual property rights in product candidates and the ability to defend and enforce such intellectual property rights, the risk of failure of the third parties upon whom MediciNova relies to conduct its clinical trials and manufacture its product candidates to perform as expected, the risk of increased cost and delays due to delays in the commencement, enrollment, completion or analysis of clinical trials or significant issues regarding the adequacy of clinical trial designs or the execution of clinical trials and the timing, cost and design of future clinical trials and research activities, the timing of expected filings with the regulatory authorities, MediciNova's collaborations with third parties, the availability of funds to complete product development plans and MediciNova's ability to raise sufficient capital when needed, and the other risks and uncertainties described in MediciNova's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2010 and its subsequent periodic reports on Forms 10-Q and 8-K. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date hereof. MediciNova disclaims any intent or obligation to revise or update these forward-looking statements.