It's basically an old library, I'm just not sure how to install it either.
The command should be as follows
sudo apt-get install libpng12-0
Thing is, like I said this library is old and may not be found by your system. Not even Wine saves this one because the graphics get messed up. At the very least it comes with a Mega Drive rom version too so it's the one saving option for us Linux users.
If anyone knows how to work around forcing installation of older libraries, please do elaborate.