Friday, October 8, 2004

Medicinova Files For IPO

San Diego-based Medicinova filed for an IPO last week, looking to raise up to $100M in a public offering. The company is focused on acquiring, developing, and commercializing pharmaceuticals. The company said that its pipeline includes drugs for the treatment of premature labor, cancer, asthma and anxiety disorders. The company reported in its filing no revenues last year, and reported an operating loss of more than $6M in 2003, and more than $26M in the first six months of 2004. Medicinova has raised over $78M in venture capital to date.