Biotie Therapies - Company Announcement

Clinical study started with VAP-1 antibody in rheumatoid arthritis patients

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE February 17, 2009 at
11.00 a.m.

CLINICAL STUDY STARTED WITH VAP-1 ANTIBODY IN RHEUMATOID ARTHRITIS
PATIENTS

Biotie has started a clinical trial with its fully human VAP-1
monoclonal antibody (BTT-1023) in rheumatoid arthritis patients.

The study will be conducted within the European Union and will
evaluate the safety, tolerability, and pharmacokinetics of repeated
doses of intravenously administered antibody in up to 36 patients
with rheumatoid arthritis. The results are expected in the first half
of 2010, and are expected to establish a basis for designing
full-scale therapeutic studies and provide initial information on the
therapeutic potential of the antibody. A similarly designed clinical
study in psoriasis patients is expected to start by the end of
Q1/2009.

Biotie and Roche have signed an option agreement for the antibody
program targeting VAP-1. Under the terms of the agreement, Roche has
paid an option initiation fee of EUR 5 million, which grants Roche an
exclusive option right to an exclusive, worldwide license agreement
for Biotie's fully human antibody targeting VAP-1, excluding Japan,
Taiwan, Singapore, New Zealand, and Australia. The initial option
right will end upon completion of Phase I, and it is expected that
this point will be reached when the currently starting study is
completed. Roche may extend the option right to later development
points by paying additional fees. Biotie will retain all rights to
the program until a license is granted to Roche.Inhibiting VAP-1 reduces inflammation by regulating the migration of
leukocytes, or white blood cells, to inflamed tissues.


Turku, February 17, 2009

Biotie Therapies Corp.


Timo Veromaa
President and CEO



For further information, please contact:

Antero Kallio, Chief Medical Officer
Tel. +358 2 274 8900, e-mail: antero.kallio@biotie.com

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

www.biotie.com

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