Biotie Therapies - Company Announcement

Biotie Reaches Milestone in Wyeth Collaboration

BIOTIE THERAPIES CORP.     STOCK EXCHANGE RELEASE August 28, 2009 at
09:00 a.m.


Biotie Reaches Milestone in Wyeth Collaboration

Biotie announced today that it has reached a milestone in its
collaboration with Wyeth for the development of PDE10
(phosphodiesterase 10) inhibitors for schizophrenia, triggering a USD
1.0 million milestone payment to Biotie.

Timo Veromaa, President and CEO of Biotie said "We are pleased with
the progress we have made in collaboration with Wyeth on the PDE10
inhibitor program and look forward to beginning our work together in
the clinic. We believe this partnership provides further validation
for our PDE platform technology, which has already provided us with
one active clinical program and several pre-clinical programs."

PDE10 is a novel CNS drug target that is thought to play an important
role in the pathophysiology of schizophrenia. Biotie has demonstrated
that inhibitors of PDE10 display promising antipsychotic activity in
experimental models, indicating the potential for a superior efficacy
and tolerability profile versus current standard therapies. Data from
these studies has recently been presented for the first time at the
American Chemical Society Fall National Meeting in Washington DC
(August 16 - 20). Additional data will also be presented at the
Society for Neuroscience Annual Meeting in Chicago, IL (October 17 -
21).

Turku, August 28, 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:
www.biotie.com

Distribution:
NASDAQ OMX Helsinki Ltd
Main Media


Biotie Therapies Corp.
Biotie is a drug discovery and development company focused on central
nervous system and inflammatory diseases. It has a broad range of
innovative small molecule and biological drug candidates at different
stages of clinical and pre-clinical development. Biotie's products
address diseases with high unmet medical need and significant market
potential, including addiction and psychotic disorders, rheumatoid
arthritis, psoriasis and chronic obstructive pulmonary disease
(COPD). The most advanced product, nalmefene for alcohol dependence,
is currently in phase III clinical development by licensing partner
H. Lundbeck A/S.

The commercial value of the pipeline has been demonstrated through
existing alliances with top-tier global pharmaceutical companies such
as Lundbeck, Roche and Wyeth. Biotie has operations in Turku, Finland
and Radebeul, Germany.

Biotie shares are listed on NASDAQ OMX Helsinki Ltd.

For more information, please refer to www.biotie.com


Biotie agreement with Wyeth
Under the terms of the research collaboration and license agreement
between Biotie and Wyeth, Biotie is eligible for up to USD 110
million in funding related to the initial signing fee, research
funding and milestone payments. Biotie is also eligible to receive
royalties on sales following commercialization.


Schizophrenia
Schizophrenia is a chronic, severe and disabling disorder of the
central nervous system affecting up to one percent of the population.
The disease is characterized by hallucinations, social withdrawal,
and deficits in cognition and memory. Current treatments are mostly
efficacious in the treatment of hallucinations but have insufficient
efficacy for social withdrawal and may have intolerable side effects
including weight gain, diabetes, movement disorders and anxiety
disorders.