Biotie Therapies - Company Announcement

Biotie and Seikagaku agree to end License Agreement on Biotie's VAP-1 antibody program

BIOTIE THERAPIES CORP.     STOCK EXCHANGE RELEASE      24 April 2012, at 9.00
a.m.

Biotie and Seikagaku agree to end License Agreement on Biotie's VAP-1 antibody
program

Biotie Therapies Corp. ("Biotie", Turku, Finland) announced today that Biotie
and Seikagaku Corporation ("Seikagaku", Tokyo, Japan) have agreed to terminate
their License Agreement on Biotie's VAP-1 antibody program. The license, under
which Biotie had granted Seikagaku exclusive rights for development and
commercialization of its VAP-1 monoclonal antibody BTT-1023 in Japan, Taiwan,
Singapore, New Zealand and Australia, was executed in April 2003 and was built
around Seikagaku's expertise in locomotive diseases. The agreement, which also
included an option for Biotie's VAP-1 SSAO small molecule inhibitors, has been
terminated with immediate effect.

Timo Veromaa, Chief Executive Officer of Biotie commented, "Based on recently
generated exciting data in animal models we have re-profiled the VAP-1 antibody
program to primarily target fibrotic diseases and this therapeutic focus is no
longer aligned with Seikagaku's business strategy. Regaining the Asia-Pacific
rights to BTT-1023 gives us the opportunity to build a fully global development
strategy in the fibrosis disease area which has a high level of unmet medical
need. "

Turku, 24 April 2012

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

DISTRIBUTION
NASDAQ OMX Helsinki Ltd
Main Media
www.biotie.com

BTT-1023 (VAP-1 antibody): A fully human antibody against vascular adhesion
protein-1 (VAP-1)

Biotie has recently generated new data indicating that its proprietary target
VAP-1, in addition to its clinically demonstrated role in inflammatory diseases,
has an important role in fibrotic diseases. These data, generated in part in
collaboration with National Institute for Health Research Liver Biomedical
Research Unit at the University of Birmingham, UK, reveal significant potential
for BTT-1023 in certain niche liver inflammatory fibrotic diseases. These data
will be published at upcoming scientific and medical conferences and represent
potentially new and exciting development opportunities for BTT-1023 in a range
of conditions.

Biotie is currently optimizing the scale-up of the manufacturing process for
BTT-1023 and expects to start proof-of-concept clinical studies in selected
indications in H2 2012. Biotie has previously demonstrated encouraging efficacy
and safety for BTT-1023 in early clinical studies in rheumatoid arthritis and
psoriasis patients and in a range of preclinical models of inflammatory
diseases, including COPD and certain neurological conditions. The company will
continue discussions with potential partners for the indications targeting large
markets.

Biotie

Biotie is a specialized drug development company focused on the development of
drugs for neurodegenerative and psychiatric disorders (e.g. Parkinson's disease,
Alzheimer's disease and other cognitive disorders, alcohol and drug dependence
(addiction) and post traumatic stress disorder), and inflammatory and fibrotic
liver disease.

The company has a strong and balanced development portfolio with  several
innovative small molecule and biological drug candidates at different stages of
clinical development. Biotie's products address diseases with high unmet medical
need and significant market potential.

Partnerships with top-tier pharmaceutical partners are in place for several
programs as well as a strategic collaboration with UCB Pharma S.A. The Marketing
Authorization Application for Biotie's most advanced product, SelincroTM
(nalmefene) for alcohol dependence was filed in the EU by our partner H.
Lundbeck A/S and was accepted for review by the European Medicines Agency in
December 2011.

Biotie shares are listed on NASDAQ OMX Helsinki Ltd.


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