Biotie Therapies - Company Announcement

Biotie secures committed standby equity up to 20 million euro

BIOTIE THERAPIES CORP.   STOCK EXCHANGE RELEASE OCTOBER 23, 2009 at
8.15 a.m.

Biotie secures committed standby equity up to 20 million euro

Biotie Therapies Corp. ("Biotie") has entered into a Standby Equity
Distribution Agreement ("SEDA") with YA Global Master SPV Ltd. ("YA
Global") a fund managed by Yorkville Advisors, LLC of Jersey City,
New Jersey, USA ("Yorkville"). Under the terms of the agreement,
Biotie has the option to take up YA Global's commitment to subscribe
and pay for ordinary no-par Biotie shares up to a total value of 20
million euro over the period of the next 36 months. It remains at the
sole and exclusive discretion of Biotie to exercise this option.

The purpose of the Standby Equity Distribution Agreement is to secure
the financing of Biotie's working capital in the short and medium
term. In consideration of the committed standby equity Biotie will
pay to YA Global a one-time commitment fee of EUR 200.000, payable in
Biotie shares, and has already paid a customary structuring fee and
due diligence fee.

Timo Veromaa, CEO of Biotie commented: "We believe the agreement with
YA Global gives Biotie the flexibility and access to capital that has
become critical in today's marketplace.  This vehicle is an
additional resource that can help move our proprietary clinical
programs forward to key inflection points. Yorkville has a proven
track record in providing European companies with equity line
commitments and we are glad to be working with the Yorkville team."

Dr. Michael J. Nowak, Head of the Healthcare Group and a Managing
Director at Yorkville the investment manager to a family of Funds
based in New Jersey, led the investment into Biotie Therapies Corp.
Dr. Nowak, stated: "Yorkville provides flexible and innovative
financing tools for public healthcare and technology companies. We
are very pleased to be making our first SEDA investment in Northern
Europe with Biotie Therapies Corp., especially given the large unmet
medical need and market potential addressed by Biotie Therapies'
multiple compounds in development, and the strength of their
strategic partners and management team."

At any time during the 36 month commitment period, Biotie may request
YA Global to purchase newly issued Biotie shares or shares Biotie has
in its own possession by delivering an advance notice to YA Global
designating requested portion of the commitment amount to be taken
up. The maximum portion of the commitment amount to be used at a time
is EUR 50.000 for the first tranche, EUR 100.000 for the second
tranche and EUR 300.000 for the subsequent tranches. If a share
lending arrangement is implemented, or other arrangements are made
with the result of prompt delivery of shares to YA Global in
connection with each tranche, the parties may decide to increase the
maximum portion of the commitment amount to be used for all tranches
subsequent to the second tranche to the lesser of (i) EUR 500.000 or
(ii) the value of the shares available to be borrowed by YA Global.
The number of shares issuable to YA Global shall, however, in no
event cause the aggregate number of shares beneficially owned by YA
Global and its affiliates at any time to exceed 4.99% of the then
issued shares. Further, in no event shall the aggregate number of
shares issued by Biotie pursuant to the Standby Equity Distribution
Agreement or otherwise exceed 9.9% of all outstanding shares of
Biotie during a rolling twelve month period unless Biotie ensures
that all shares issued despite exceeding the threshold are or will beadmitted for listing.

The pricing of the shares will be determined as 95% of the lowest
daily volume-weighted average share price of the five trading days
following the date on which Biotie shall have sent to YA Global the
relevant advance notice ("Pricing Period"), and may in no event be
less than 85% of the volume-weighted average price of Biotie shares
on NASDAQ OMX Helsinki Ltd. on the last trading day prior to such
date of advance notice ("Minimum Price"). Further, should the market
price on certain of the five trading days following the date of
advance notice fall below the Minimum Price, the pro rata
subscription for such days will not be executed unless YA Global
decides to execute such subscription at the Minimum Price.

YA Global can either sell the subscribed shares or accumulate them.
YA Global is also contractually bound not to short sell Biotie shares
unless a share lending arrangement is implemented or certain other
arrangements made. Other than the afore-said, YA Global is not
restricted in its right to sell Biotie shares without any limit of
time, including during the Pricing Period, in compliance with
applicable laws, rules and regulations. At the current share price
the facility corresponds to tranches of around 530.000 shares and a
maximum cumulated amount of approximately 36.000.000 shares. At the
date of this release, the number of issued shares in Biotie is
144,320,560.

Biotie will, as a general rule, publish a separate stock exchange
release every time the SEDA instrument is used once the pricing of
the respective shares has been determined.

In Turku, October 23, 2009

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

Thomas Taapken, CFO
tel. +358 2 274 8900, e-mail: thomas.taapken@biotie.com

www.biotie.com

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