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2011-10-21 07:30:00 CEST 2011-10-21 07:30:29 CEST REGULATED INFORMATION Biotie Therapies - Company AnnouncementBiotie informed that Merck Serono is returning full global rights for safinamide to NewronBIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 21 October 2011 at 8:30 a.m. (Helsinki time) Biotie informed that Merck Serono is returning full global rights for safinamide to Newron Biotie has today been informed by Newron Pharmaceuticals S.p.A. ("Newron") that effective April 2012 Merck Serono is returning to Newron the full global rights for safinamide, currently in Phase 3 development for Parkinson's disease. Merck Serono has announced that it will meet its contractual and ethical commitments regarding the ongoing clinical development program for safinamide until April 2012 and will work with Newron to execute an appropriate transfer of the program to Newron. Biotie and Newron announced on 27 September 2011 that they have signed an agreement for Biotie to acquire Newron in a transaction valued at EUR 45 million (the "Transaction"). The Transaction is still subject inter alia to the approval by the extraordinary shareholder's meeting of Newron, scheduled to convene on 31 October 2011. Biotie is evaluating the potential impact of this new development to the proposed Transaction and a further announcement will be made in due course. In Turku, 21 October 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 www.biotie.com Distribution: NASDAQ OMX Helsinki Ltd Main Media ATTACHMENT: Press release by Newron 21 October 2011 [HUG#1556802] |
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