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Daiwa Securities SMBC acted as lead manager for the recently completed initial public offering of MediciNova, Inc., a San Diego-based specialty pharmaceutical company. The listing by MediciNova on the Hercules market of the Osaka Securities Exchange on February 8, 2005 marked the first time a U.S. corporation has conducted an initial public offering as a sole listing in Japan. MediciNova has historical business ties with a number of Japanese pharmaceutical companies. Including shares issued pursuant to the underwriters' over-allotment option, MediciNova raised over $120 million to fund its drug development programs.

Simpson Thacher acted as underwriters' counsel in connection with the transaction and the coordination of the U.S. and Japanese registration processes. Attorneys advising Daiwa Securities SMBC included Alan Cannon and Tosh Mochizuki in the Tokyo office, Jason Schendel and Matt Crosby in the Palo Alto office, and Mark Lab in New York.