Biotie raises 7,2 million euros [7.12.2009]

With reference to the share issue (the Offering) announced on December 4 2009 Biotie Therapies Corp. has decided to discontinue the reception of subscription undertakings due to the Offering having been oversubscribed more than two times by international and Finnish institutional investors.

All 14,432,000 shares offered were subscribed at a subscription price of EUR 0.50 per share. All offered new shares have been allocated to a major UK institutional fund management group on the basis of recommendation by Nomura Code Securities Limited, who acted as the Lead Manager in the Offering.

Moreover, Biotie was informed by the Lead Manager that simultaneously with the directed Offering, they will place certain Biotie shares previously held by certain European venture capital investors to new institutional investors to satisfy the excess demand in the oversubscribed offering.

The subscription price for all new shares totalled at EUR 7,216,000 and as a result, the share capital of Biotie will be increased by such amount. After the registration of the new shares with the Finnish Trade Register, the share capital in Biotie will be EUR 51,506,678.10, and the total number of shares will be 158,752,560 and number of votes 158,289,305.

Timo Veromaa, President and CEO of Biotie, is very pleased with the increasing investor interest in the company as he expects next year to be very exciting for Biotie.

- All our clinical programs are expected to reach decisive points in their development within the next 18 months and we are happy to see this strong support from the investment community. With the proceeds from this offering we have further strengthened our cash position and will be financed well into 2011.

For further information, please contact:

Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: virve.nurmi@biotie.com
www.biotie.com