Biotie Therapies - Company Announcement

CORRECTION: Biotie Increases Proposed U.S. Public Offering of ADSs

BIOTIE THERAPIES CORP.       STOCK EXCHANGE RELEASE  June 8, 2015 at 9.20 p.m.

CORRECTION: Biotie Increases Proposed U.S. Public Offering of ADSs

The stock exchange release published today at 3.35 p.m. by Biotie Therapies
Corp. concerning the increase of its proposed U.S. public offering did not
include a paragraph containing further information as to where the registration
statement and certain other documents relating to the proposed offering are
available. The following contains the amended stock exchange release in its
entirety.

Biotie Increases Proposed U.S. Public Offering of ADSs

Biotie Therapies Corp. ("Biotie" or the "Company"), a specialized drug
development company focused on products for neurodegenerative and psychiatric
disorders, has decided to increase its proposed U.S. public offering from $50
million to $56 million American Depositary Shares ("ADSs") representing its
shares.

The Company announced on June 4, 2015 its proposed U.S. public offering of $50
million. UCB S.A. ("UCB") has since agreed to cover the majority of the
underwriters' 30-day option to subscribe for up to an additional 15% of the
shares represented by ADSs sold in the U.S. public offering for the sole purpose
of covering potential over-allotments (the "Over-allotment Option"). As a
result, the Company has decided to increase the offering to $56 million, based
on the authorization granted by the Annual General Meeting of shareholders on
May 26, 2015. Total proceeds to the Company from the U.S. public offering and
the issuance of convertible promissory notes and warrants to certain U.S.
investors and certain existing shareholders completed on May 28, 2015 will
remain in-line with plans announced at that meeting to raise a total of
approximately €95 million. The change in structure will allow the Company to
increase the amount of funding raised to fund the Company's phase 3 program for
tozadenant without dependence on whether the underwriters exercise the Over-
allotment Option.

UCB's shares represent 519,583 ADS out of the potential maximum of 566,688 ADS
based on the below prices and assumptions. Biotie will not receive any proceeds
from the UCB shares and there will be no change in the number of newly
registered shares as a result of the sale of these UCB shares. The offering is
expected to be completed by the end of June.

On June 2, 2015, the last reported sale price of Biotie's shares on the NASDAQ
OMX Helsinki Ltd. was €0.168 per share, which is equivalent to a price of $14.82
per ADS, assuming an exchange rate of $1.1029 per euro and a share to ADS ratio
of 80 to one. Based on these prices and assumptions and excluding the Over-
allotment Option, a total of 3,777,919 ADSs would be offered, representing
302,233,506 newly issued shares.

As previously announced, certain of Biotie's existing investors and certain
members of its board of directors have indicated an interest in purchasing up to
an aggregate of $25 million of ADSs in the U.S. public offering at the public
offering price. An updated registration statement relating to the securities to
be issued in the offering has been filed with the U.S. Securities and Exchange
Commission but has not yet become effective. These securities may not be sold,
nor may offers to buy be accepted, prior to the time the registration statement
becomes effective.

The Company has filed a registration statement (including a prospectus) with the
Securities and Exchange Commission ("SEC") for the U.S. public offering to which
this communication relates. Before you invest in the U.S. public offering, you
should read the prospectus in that registration statement and other documents
the Company has filed with the SEC for more complete information about the
Company and this offering. You may get these documents for free by visiting
EDGAR on the SEC web site at www.sec.gov. Alternatively, the Company, any
underwriter or any dealer participating in the offering will arrange to send you
the prospectus if you request it by contacting RBC Capital Markets, LLC, 200
Vesey Street, 8th Floor, New York, New York 10281, Attention: Equity Syndicate
Department, or by calling +1 877 822 4089, or by emailing
equityprospectus@rbccm.com, or Stifel, Nicolaus & Company, Incorporated,
Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco,
California 94104, by telephone at +1 415 364 2720 or by email at
syndprospectus@stifel.com.

This stock exchange release does not constitute an offer to sell nor a
solicitation of an offer to buy, nor shall there be any sale of securities in
any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state or jurisdiction.

Turku, June 8, 2015

Biotie Therapies Corp.

Timo Veromaa
President and CEO



Contact:

Virve Nurmi, Investor Relations Manager, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com

DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
Main Media

About Biotie

Biotie is a specialized drug development company focused on products for
neurodegenerative and psychiatric disorders. Biotie's development has delivered
Selincro (nalmefene) for alcohol dependence, which received European marketing
authorization in 2013 and is currently being rolled out across Europe by partner
Lundbeck. The current development products include tozadenant for Parkinson's
disease, which is transitioning into Phase 3 development, and two additional
compounds which are in Phase 2 development for cognitive disorders including
Parkinson's disease dementia, and primary sclerosing cholangitis (PSC), a rare
fibrotic disease of the liver.

Disclaimer

The information herein may not be distributed or sent into Australia, Canada,
Japan or South Africa.

The issue, exercise and/or sale of securities in the offerings are subject to
specific legal or regulatory restrictions in certain jurisdictions. The Company
assumes no responsibility in the event there is a violation by any person of
such restrictions. Investors must neither accept any offer for, nor acquire, any
securities to which this document refers, unless they do so on the basis of the
information contained in the applicable prospectus published or offering
circular distributed by the Company.

The Company has not authorized any offer to the public of securities in any
Member State of the European Economic Area, including Finland. With respect to
each Member State of the European Economic Area, including Finland, which has
implemented the Prospectus Directive (each, a "Relevant Member State"), no
action has been undertaken or will be undertaken to make an offer to the public
of securities requiring publication of a prospectus in any Relevant Member
State. As a result, the securities may only be offered in Relevant Member States
(a) to any legal entity which is a qualified investor as defined in the
Prospectus Directive; or (b) in any other circumstances falling within Article
3(2) of the Prospectus Directive. For the purposes of this paragraph, the
expression an "offer of securities to the public" means the communication in any
form and by any means of sufficient information on the terms of the offer and
the securities to be offered so as to enable an investor to decide to exercise,
purchase or subscribe the securities, as the same may be varied in that Member
State by any measure implementing the Prospectus Directive in that Member State
and the expression "Prospectus Directive" means Directive 2003/71/EC (and
amendments thereto, including the 2010 PD Amending Directive, to the extent
implemented in the Relevant Member State), and includes any relevant
implementing measure in the Relevant Member State and the expression "2010 PD
Amending Directive" means Directive 2010/73/EU.

This communication is directed only at (i) persons who are outside the United
Kingdom or (ii) persons who have professional experience in matters relating to
investments falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth
entities, and other persons to whom it may lawfully be communicated, falling
within Article 49(2) of the Order (all such persons together being referred to
as "relevant persons"). Any investment activity to which this communication
relates will only be available to and will only be engaged with, relevant
persons. Any person who is not a relevant person should not act or rely on this
document or any of its contents.

Forward-Looking Statements

This release may contain forward-looking statements regarding the proposed
timing and size of the public offering, all of which involve certain risks and
uncertainties. These statements are often, but are not always, made through the
use of words or phrases such as "believes,""anticipates,""expects,""intends,""plans,""seeks,""estimates,""may,""will,""could,""stands to,""continues,""we believe,""we intend," as well as similar expressions. Such forward-looking
statements may involve known and unknown risks, uncertainties and other factors
which might cause the actual results, financial condition, performance or
achievements of Biotie, or industry results, to be materially different from any
historic or future results, financial conditions, performance or achievements
expressed or implied by such forward-looking statements. Among the factors that
may result in differences are the inherent uncertainties associated with
competitive developments, clinical trial and product development activities,
regulatory approval requirements and estimating the commercial potential of our
product candidates. Given these uncertainties, the reader is advised not to
place any undue reliance on such forward-looking statements. These forward-
looking statements speak only as of the date of publication of this document.
Biotie expressly disclaims any obligation to update any such forward-looking
statements in this document to reflect any change in its expectations with
regard thereto or any change in events, conditions or circumstances on which any
such statement is based, unless required by law or regulation.




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