Biotie Therapies - Company Announcement

Notification according to Chapter 2, Section 10 of the Finnish Securities Market Act relating to decrease in holdings

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE December 18, 2009, at 1 p.m.      


Notification according to Chapter 2, Section 10 of the Finnish Securities Market
Act relating to decrease in holdings                                            

Biotie Therapies Corp. (“Company”) has gained knowledge of the notifications    
regarding the following changes in holdings in accordance with Chapter 2,       
Section 9 of the Finnish Securities Markets Act. The change (decrease below 1/10
of total number of shares) in holdings relate to the increase in the total      
number of shares in the Company as a result of the directed share offering      
registered on 14 December 2009.                                                 

Pequot Healthcare Fund, L.P., Pequot Healthcare Offshore Fund, Inc., Pequot     
Diversified Master Fund, Ltd., Pequot Healthcare Institutional Fund, L.P. and   
Pequot Healthcare Emerging Markets Master Fund, Ltd. (jointly “Pequot”) have    
notified that as a result of the Company issuing 14,432,000 new shares in the   
directed offering, the joint holdings of Pequot has decreased below 1/10 to     
9.63% of total number of shares and votes in the Company.                       

The holdings in accordance with Chapter 2, Section 9 of the Finnish Securities  
Markets Act of which the Company has gained knowledge is described below.       

--------------------------------------------------------------------------------
| Name of the shareholder                |           Shares |      % of shares |
|                                        |                  |        after the |
|                                        |                  |  issuance of new |
|                                        |                  |           shares |
--------------------------------------------------------------------------------
| Pequot Healthcare Fund, L.P.           |        5,756,935 |            3.63% |
--------------------------------------------------------------------------------
| Pequot Healthcare Offshore Fund, Inc.  |        4,527,283 |            2.85% |
--------------------------------------------------------------------------------
| Pequot Diversified Master Fund, Ltd.   |          922,300 |            0.58% |
--------------------------------------------------------------------------------
| Pequot Healthcare Institutional Fund,  |        1,582,506 |            1.00% |
| L.P.                                   |                  |                  |
--------------------------------------------------------------------------------
| Healthcare Emerging                    |        2,506,470 |            1.58% |
| Markets Fund, Ltd.                     |                  |                  |
--------------------------------------------------------------------------------
| PEQUOT TOTAL                           |       15,295,494 |            9.63% |
--------------------------------------------------------------------------------


The registered number of shares in Biotie Therapies Corp. is 158,752,560 and the
number of voting rights attached to the shares amounts to 158,289,305.          

In Turku, 18 December 2009                                                      

Biotie Therapies Corp.                                                          
Timo Veromaa, President and CEO                                                 

For further information, please contact:   
Virve Nurmi, Biotie Therapies Corp.                                             
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com                            

www.biotie.com                                                                  

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NASDAQ OMX Helsinki Ltd                                                         
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