Biotie Therapies - Company Announcement

The Board of Directors of Biotie Therapies Corp. decided on the issuance of option rights

BIOTIE THERAPIES CORP.   STOCK EXCHANGE RELEASE  27 April 2009 at
1.15 p.m.

THE BOARD OF DIRECTORS OF BIOTIE THERAPIES CORP. DECIDED ON THE
ISSUANCE OF OPTION RIGHTS

The Board of Directors of Biotie Therapies Corp. has on 26 April 2009
resolved to issue option rights. The resolution of the Board of
Directors is based on the resolution of the company's Extraordinary
General Meeting of 14 November 2008 according to which the Board of
Directors was authorised to resolve on the issuance of a maximum of
7,000,000 shares through a share issue or by granting option rights
or other specific rights to the shares pursuant to chapter 10 of the
Companies Act in order to, for example, create new incentive schemes.

The company issues a total of 7,000,000 option rights that entitle
the option holders to subscribe for a total 7,000,000 new shares in
the company. Of the option rights, 2,000,000 shall be marked with the
symbol 2009 A, 2,000,000 with the symbol 2009 B and 2,000,000 with
the symbol 2009 C. Each option right entitles the option holder to
subscribe for one new share in the company. As a result of the share
subscriptions, the number of the shares in the company may thus
increase by a total of 7,000,000 new shares. In the event the shares
subscribed on the basis of the issued option rights are subscribed in
full, the proportion of the subscribed shares shall be approximately
4.6 per cent of the share capital of the company after the
registration of the increase in the share capital, without taking
into account the new shares to be possibly subscribed pursuant to the
convertible loans and other option schemes issued by the company.

The option rights shall be issued free of charge to the company's key
personnel and Biotie Therapies International Oy, a wholly owned
subsidiary of the company. The distribution of the option rights
shall be decided by the Board of Directors. The company has a weighty
financial reason referred to in Chapter 10, Section 1 of the
Companies Act to issue option rights since the option rights are
intended to form a part of the Company's incentive and commitment
programme for the Company's key personnel.

The subscription periods and prices for the shares are as follows:


+-------------------------------------------------------------------+
| Tranche | Subscription period | Subscription      | Number of     |
|         |                     | price             | option rights |
|         |                     |                   |               |
|---------+---------------------+-------------------+---------------|
| 2009 A  | 1 Jan 2010 - 31 Dec | EUR 0.4 per share | 2,000,000     |
|         | 2013                |                   |               |
|---------+---------------------+-------------------+---------------|
| 2009 B  | 1 Jan 2011 - 31 Dec | EUR 0.7 per share | 2,500,000     |
|         | 2013                |                   |               |
|---------+---------------------+-------------------+---------------|
| 2009 C  | 1 Jan 2012 - 31 Dec | EUR 1 per share   | 2,500,000     |
|         | 2013                |                   |               |
|---------+---------------------+-------------------+---------------|
| Total   |                     |                   | 7,000,000     |
+-------------------------------------------------------------------+


The subscription price has been determined based on the
volume-weighted average trading price of the Company's share on
NASDAQ OMX Helsinki Ltd during the period of 1 January - 31 March
2009, i.e. EUR 0.29, with an increase as follows: (i) option right
2009 A: an increase of approx.  138 per cent, (ii) option right 2009
B: an increase of approx.  241 per cent and (iii) option right 2009
C: an increase of approx. 345 per cent. The determination of the
subscription price of the share is based on the market price of the
Company's share and, at the same time, it sets an incentive to the
key personnel in order to add ownership value. The subscription price
of the shares shall be recorded in the company's reserve for invested
unrestricted equity.

The Board of Directors may decide on other than essential amendments
and specifications to the terms and conditions of the option rights,
as well as other matters related to the option rights.

Turku April 27, 2009

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:
Timo Veromaa, President and CEO, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: timo.veromaa@biotie.com
www.biotie.com

DISTRIBUTION:

NASDAQ OMX Helsinki Ltd
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