MediciNova Completes Merger

Bruce V. Bigelow12/18/09

San Diego-based MediciNova, (NASDAQ: MNOV) which is developing small-molecule therapeutics through partnerships with Japanese pharmaceuticals, says it has merged Avigen, (NASDAQ: AVGN), a biotech based in Alameda, CA, that is focused on developing treatments for serious neurological disorders. Under the merger agreement, Avigen shareholders will receive either cash, secured convertible notes, or a combination of cash and notes from MediciNova, which is not to be confused with Medica Nova, a private holistic health business in New Mexico.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788