San Diego-based MediciNova has inked a deal for $20 million in fresh financing to back its development work. In the agreement, Aspire Capital will buy $20 million worth of MediciNova ($MNOV) shares over the next two years, allowing the biotech to set the timetable. The biotech will use the money to advance MN-221 for asthma and COPD as well as MN-166 (ibudilast), in development for the treatment of progressive MS, drug addiction and chronic pain. Release
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