Biotie Therapies - Company Announcement

Biotie and Roche conclude research and option agreement for SSAO inhibitors

BIOTIE THERAPIES CORP.     STOCK EXCHANGE RELEASE     29 October 2010, at 9:00
a.m.

Biotie and Roche conclude research and option agreement for SSAO inhibitors

Biotie announced today that its research and option agreement with Roche for the
development of small molecule inhibitors of SSAO (semicarbazide-sensitive amine
oxidase) has been terminated by mutual agreement.

Timo Veromaa, Chief Executive Officer of Biotie commented, "We have made
significant progress in the SSAO inhibitor program but given the announced
change in our business strategy to focus our efforts on programs in clinical
development stage we will now seek alternative ways to monetize this asset, such
as sale or technology transfer agreement.

Biotie's option agreement with Seikagaku Corporation regarding the SSAO
inhibitor program for Japan, Taiwan, Singapore, Australia and New Zealand
remains in force. Biotie could receive up to $16.7 MM from a license agreement
and would be eligible for royalties on future sales in the territory if
Seikagaku exercises its option.

SSAO is a novel drug target with potential in a range of inflammatory and
metabolic diseases. Inhibition of SSAO has been shown to have a beneficial
impact in a number of pre-clinical disease models. The agreement between Biotie
and Roche, which started in 2004 as a research collaboration and option
agreement, has yielded several promising compounds that would be ready for
preclinical development.

Turku, 29 October 2010

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

Virve Nurmi, Investor Relations Manager
tel. +358 2 274 8911, e-mail: virve.nurmi@biotie.com

www.biotie.com

Distribution:
NASDAQ OMX Helsinki Ltd
Main Media

ABOUT BIOTIE THERAPIES

Biotie is a specialized drug development company focused on central nervous
system and inflammatory diseases. It has 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, including addiction and a broad range of inflammatory conditions such
as rheumatoid arthritis or 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.

Biotie is based in Turku, Finland and its shares are listed on NASDAQ OMX
Helsinki Ltd.

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



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