SAN DIEGO, Jan. 22, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- MediciNova, Inc., a biopharmaceutical company that is publicly traded on NASDAQ (Nasdaq:MNOV) and the Hercules Market of the Osaka Securities Exchange (Code Number: 4875), today announced the initiation of a Phase II clinical study to determine the safety and efficacy of MN-305 for the treatment of insomnia.