Biotie Therapies - Company Announcement

Amendment to the release on UCB license of worldwide rights to tozadenant in Parkinson's disease from Biotie

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 27 February 2013 at 9.00 a.m.

Amendment to the release on UCB license of worldwide rights to tozadenant in
Parkinson's disease from Biotie

With reference to the stock exchange release on 26 February 2013 at 7:00 p.m.
Biotie clarifies that the additional milestones under the revised agreement and
Biotie being responsible for conducting phase 3 development of tozadenant are
not likely to have significant impact on profitability of Biotie during the
duration of the clinical development. The amended release in its entirety may be
found below.

UCB to license worldwide rights to tozadenant in Parkinson's disease from Biotie

  * Novel product in development for the treatment of people living with
    Parkinson's disease
  * Biotie receives USD 20 million license fee payment
  * Original agreement modified: Biotie to conduct phase 3 development
Biotie and UCB announced today that UCB has licensed worldwide exclusive rights
to Biotie's tozadenant (SYN115), a selective inhibitor of the adenosine 2a
receptor, currently in development for the treatment of Parkinson's disease. As
a result, Biotie will receive a one-time fee payment of USD 20 million from UCB.
In addition, the parties have amended their original license agreement, such
that Biotie will now conduct phase 3 development of tozadenant in return for
additional payments from UCB relating to defined development, regulatory and
commercialization milestones."UCB is committed to improving the lives of people with Parkinson's disease and
currently provides Neupro® a transdermal dopamine agonist for the symptomatic
treatment of all stages of idiopathic Parkinson's disease," said Professor Dr
Iris Loew-Friedrich, Chief Medical Officer and Executive Vice President UCB."Biotie is a valuable partner and the decision to in-license follows the
positive top-line results of the phase 2b study. We were impressed by the
performance of Biotie and decided that they are the ideal party to continue to
spearhead the development of tozadenant. We look forward to collaborating with
Biotie in the on-going clinical development. With the addition of the novel
compound tozadenant to UCB's development portfolio we should be able to further
contribute to the advancement of the treatment and care for people living with
Parkinson's disease."

The phase 2b study was a double-blind, randomized, placebo-controlled study
evaluating the safety and efficacy of tozadenant as adjunctive therapy in
levodopa-treated Parkinson's patients with end of dose wearing off. Results from
the phase 2b study are expected to be presented at upcoming medical conferences
and in scientific publications. Patient enrollment in the phase 3 program is
currently planned to commence by the first half of 2015.

The original agreement between UCB and Biotie was announced in 2010. Under the
terms of the original agreement UCB will make an immediate one-time payment of
USD 20 million to Biotie and Biotie will remain eligible to a potential
additional USD 340 million in future milestone payments. Under the revised
agreement, Biotie will be eligible for additional payments in the low triple
digit millions in total over the next six years based on the successful
completion of defined development, regulatory and commercialization milestones.
The final amounts of the additional payments are to be determined between the
parties upon completion of the study plans in the coming months. The additional
milestone payments are likely not to significantly impact Biotie's profitability
during the duration of the clinical development. UCB and Biotie will collaborate
on the on-going clinical development and UCB will be responsible for the
manufacture and commercialization of tozadenant."We are thrilled with the opportunity to continue the development of tozadenant
in partnership with UCB", said Timo Veromaa, President and Chief Executive
Officer of Biotie. "We are encouraged by the vote of confidence provided to us
by UCB to continue with us the development of tozadenant and the very
significant incremental financial resources that we will be given to complete
the clinical work."

Turku, 27 February 2013

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

About Parkinson's disease

Parkinson's disease is a chronic, degenerative neurological disease. It is
commonly associated with movement (motor) symptoms such as tremors
(uncontrollable shaking), rigidity (stiffness or muscle tensing) and
bradykinesia (slowness and loss of spontaneous movement), but also commonly
causes underlying symptoms such as mood and cognitive impairment, pain,
depression and fatigue.

About tozadenant (SYN115)

Tozadenant is an orally administered, selective inhibitor of the adenosine 2a
(A2a) receptor being developed initially for the treatment of Parkinson's
disease. A2a receptors are expressed in high concentration in the striatum of
the brain and are thought to play an important role in regulating motor
function. Tozadenant blocks the effect of endogenous adenosine at the A2a
receptors, resulting in the potentiation of the effect of dopamine and
inhibition of the effect of glutamate at the mGluR5 receptor.

About UCB

UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company
focused on the discovery and development of innovative medicines and solutions
to transform the lives of people living with severe diseases of the immune
system or of the central nervous system. With more than 8 500 people in about
40 countries, the company generated revenue of EUR 3.2 billion in 2011. UCB is
listed on Euronext Brussels (symbol: UCB).

About Biotie (www.biotie.com)

Biotie is a specialized drug development company focused on the development of
drugs for neurodegenerative and psychiatric disorders (e.g. Parkinson's disease,
Alzheimer's disease and other cognitive disorders, alcohol and drug dependence
(addiction) and post-traumatic stress disorder), and inflammatory and fibrotic
liver disease. The company has a strong and balanced development portfolio with
several innovative small molecule and biological drug candidates at different
stages of clinical development. Biotie's products address diseases with high
unmet medical need and significant market potential.

Biotie's most advanced product, Selincro(TM) (nalmefene), licensed to Lundbeck
A/S, has on 14 December 2012 received a positive opinion from the Committee for
Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA)
recommending marketing authorization of Selincro(TM) for the reduction of
alcohol consumption in adult patients with alcohol dependence who have a high
level of alcohol consumption. In addition, Biotie has a strategic collaboration
with UCB Pharma S.A. covering tozadenant which has successfully completed a
Phase 2b study in 420 patients with advanced Parkinson's disease. Biotie shares
are listed on NASDAQ OMX Helsinki Ltd. Symbol: BTH1V




[HUG#1681399]