Biotie Therapies - Company Announcement

Biotie Updates Outlook - Non-cash Impairment Charge for SYN118

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 4 November 2011 at 8:50 a.m.
(Helsinki time)

Biotie Updates Outlook - Non-cash Impairment Charge for SYN118

Biotie announced in May 2011 the results from an exploratory phase 2a study of
its HPPD inhibitor SYN118 in Parkinson's disease (PD). These data did not show a
significant improvement in measures of PD motor function when compared to
placebo. SYN118 is subject to an option agreement with UCB as part of a broader
partnership. Biotie has continued to evaluate different development options for
the compound.  Based on this evaluation, Biotie has fully impaired the carrying
value of this asset due to the uncertainty and likelihood of UCB exercising
their option or further internal development of this product. This results in a
non-cash charge to the income statement of EUR 11.7 million in Q3 2011. The
impairment charge has no cash flow effect or impact to the forecast.

In Turku, 4 November 2011

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

Media contact:

Julie Walters, Tudor Reilly
Office: +44 (0) 20 7034 7610
Mobile +44 (0) 775 362 6967

www.biotie.com

Distribution:
NASDAQ OMX Helsinki Ltd
Main Media


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