Biotie Therapies - Company Announcement

ACORDA SUPPLEMENTS THE TENDER OFFER DOCUMENT RELATING TO THE VOLUNTARY PUBLIC TENDER OFFER ON 22 MARCH 2016

BIOTIE THERAPIES CORP.         STOCK  EXCHANGE  RELEASE    22 March 2016, at
2.20 pm (EET)

ACORDA SUPPLEMENTS THE TENDER OFFER DOCUMENT RELATING TO THE VOLUNTARY PUBLIC
TENDER OFFER FOR ALL OF THE ISSUED AND OUTSTANDING SHARES, AMERICAN DEPOSITARY
SHARES, STOCK OPTIONS, SHARE UNITS AND WARRANTS IN BIOTIE ON 22 MARCH 2016

Biotie Therapies Corp. ("Biotie" or the "Company") announced on 10 March 2016
that the Finnish Financial Supervisory Authority has approved the tender offer
document (the "Tender Offer Document") relating to the voluntary public tender
offer by Acorda Therapeutics, Inc. ("Acorda") to purchase all of the issued and
outstanding shares, American Depositary Shares, stock options, share units and
warrants in Biotie that are not owned by Biotie or any of its subsidiaries (the
"Tender Offer"). The acceptance period under the Tender Offer commenced on 11
March 2016 at 9:30 am and will preliminarily expire on 8 April 2016 at 4 pm.

Biotie has today been informed by Acorda that the company supplements the Tender
Offer Document with Biotie's audited financial statement report for the
financial period ended 31 December 2015, which was published by Biotie today at
10.00 am through stock exchange release and on the Company's website
www.biotie.com and which is included as Annex I of the Tender Offer Document.

The Tender Offer Document, together with Supplement No. 1 and Supplement No. 2,
is available in Finnish at the branch offices of the cooperative bank belonging
to the OP Financial Group or Helsinki OP Bank Ltd. and at Nasdaq Helsinki,
Fabianinkatu 14, FI-00130 Helsinki, Finland, at the offices of Acorda at Office
of the Corporate Secretary, 420 Saw Mill River Road, Ardsley, NY, 10502 and on
the internet at www.op.fi/merkinta, http://ir.acorda.com/investors/Biotie-
Therapies-Tender-Offer/default.aspx and www.biotie.com/sijoittajat.

Acorda's press release is enclosed to this stock exchange release as an
attachment.


Turku, 22 March 2016

Biotie Therapies Corp.
Timo Veromaa
President and CEO

For further information, please contact:
Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com

DISTRIBUTION:
www.biotie.com
Nasdaq Helsinki Ltd
Main Media

INFORMATION REGARDING BIOTIE

Biotie is a biopharmaceutical 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 marketed across Europe by partner
Lundbeck. The current development products include tozadenant for Parkinson's
disease, which is in 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.

INFORMATION REGARDING ACORDA

Founded in 1995, Acorda is a biotechnology company focused on developing
therapies that improve the lives of people with neurological disorders, with its
common stock listed on Nasdaq US.

Acorda has an industry leading pipeline of novel neurological therapies
addressing a range of disorders, including multiple sclerosis, Parkinson's
disease, post-stroke walking deficits, epilepsy and migraine. Acorda markets
three FDA-approved therapies, including AMPYRA (dalfampridine) Extended Release
Tablets, 10 mg.

ADDITIONAL INFORMATION

The  Tender Offer described in this release  has commenced. On the date when the
Tender  Offer commenced, Acorda filed  with the SEC a  tender offer statement on
Schedule  TO. Investors  and holders  of Biotie  equity securities  are strongly
advised  to read  the tender  offer statement,  including the offer to purchase,
letter of transmittal, acceptance forms and other related tender offer documents
and the related solicitation/recommendation statement on Schedule 14D-9 filed by
Biotie with the SEC, because they contain important information. These documents
are  available at no charge on the  SEC's website at www.sec.gov. In addition, a
copy  of the Tender Offer Document and related documents may be obtained free of
charge  at www.acorda.com  or Office  of the  Corporate Secretary,  420 Saw Mill
River Road, Ardsley, New York 10502.

In  addition  to  the  Schedule  TO,  Acorda files annual, quarterly and special
reports,  proxy statements and other information with  the SEC. You may read and
copy  any reports, statements  or other information  filed by Acorda  at the SEC
public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call
the  SEC at 1-800-SEC-0330 for further information on the public reference room.
Acorda's  filings with the SEC are also  available to the public from commercial
document-retrieval  services  and  at  the  website  maintained  by  the  SEC at
www.sec.gov.

THE  TENDER OFFER  IS NOT  AND WILL  NOT BE  MADE DIRECTLY  OR INDIRECTLY IN ANY
JURISDICTION  WHERE EITHER  AN OFFER  OR PARTICIPATION  THEREIN IS PROHIBITED BY
APPLICABLE  LAW  OR  WHERE  ANY  TENDER  OFFER DOCUMENT OR REGISTRATION OR OTHER
REQUIREMENTS  WOULD APPLY  IN ADDITION  TO THOSE  UNDERTAKEN IN  FINLAND AND THE
UNITED STATES.

IN  ADDITION, THE TENDER OFFER DOCUMENT,  THE RELATED DOCUMENTS AND THIS RELEASE
WILL  NOT AND MAY NOT BE DISTRIBUTED,  FORWARDED OR TRANSMITTED INTO OR FROM ANY
JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW. IN PARTICULAR, THE TENDER OFFER
IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, CANADA, JAPAN, AUSTRALIA,
SOUTH  AFRICA OR HONG KONG. THE TENDER OFFER CANNOT BE ACCEPTED BY ANY SUCH USE,
MEANS  OR INSTRUMENTALITY OR FROM WITHIN  CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA
OR HONG KONG.

This release is for informational purposes only and does not constitute a tender
offer document or an offer, solicitation of an offer or an invitation to a sales
offer.  Potential investors in Finland shall accept the Tender Offer only on the
basis  of the information provided in the  Tender Offer Document approved by the
Finnish Financial Supervisory Authority and related materials.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Some of the statements contained in this announcement are forward-looking
statements, including statements regarding the expected consummation of the
acquisition, which involves a number of risks and uncertainties, including the
satisfaction of closing conditions for the acquisition, such as the tender of at
least 90% of the outstanding shares and voting rights of the Company, the
possibility that the transaction will not be completed and other risks and
uncertainties discussed in the Tender Offer documents filed by Acorda and the
solicitation/recommendation statement filed by the Company. These statements are
based on current expectations, assumptions, estimates and projections, and
involve known and unknown risks, uncertainties and other factors that may cause
results, levels of activity, performance or achievements to be materially
different from any future statements. These statements are generally identified
by words or phrases such as "believe", "anticipate", "expect", "intend", "plan",
"will", "may", "should", "estimate", "predict", "potential", "continue" or the
negative of such terms or other similar expressions. If underlying assumptions
prove inaccurate or unknown risks or uncertainties materialize, actual results
and the timing of events may differ materially from the expected results and/or
timing discussed in the forward-looking statements, and you should not place
undue reliance on these statements. Acorda and the Company disclaim any intent
or obligation to update any forward-looking statements as a result of
developments occurring after the period covered by this announcement or
otherwise.
Attachment: Acorda's Press Release

ACORDA THERAPEUTICS, INC. PRESS RELEASE

22 March 2016 at 2:00 pm (EET) / 8:00 am (New York Time)

ACORDA THERAPEUTICS, INC. SUPPLEMENTS THE TENDER OFFER DOCUMENT RELATING TO THE
VOLUNTARY PUBLIC TENDER OFFER FOR ALL OF THE ISSUED AND OUTSTANDING SHARES,
AMERICAN DEPOSITARY SHARES, STOCK OPTIONS, SHARE UNITS AND WARRANTS IN BIOTIE
THERAPIES CORP. ON 22 MARCH 2016

As announced on 10 March 2016, Acorda Therapeutics, Inc. (Nasdaq: ACOR)
("Acorda" or the "Offeror")  has on 11 March 2016 commenced a voluntary public
tender offer (the "Tender Offer") to purchase all of the issued and outstanding
shares ("Shares"), American Depositary Shares ("ADSs"), stock options ("Option
Rights"), share units ("Share Rights") and warrants ("Warrants") in Biotie
Therapies Corp. (Nasdaq Helsinki: BTH1V;Nasdaq: BITI) ("Biotie" or the
"Company") that are not owned by Biotie or any of its subsidiaries.

Biotie published its audited financial statement report for the financial year
ended 31 December 2015 ("2015 Financial Statement Report") on 22 March 2016. As
set forth in Supplement No. 2 to the Tender Offer Document ("Supplement No.
2"), attached as Annex 1 of this release, Acorda supplements the Tender Offer
Document with the 2015 Financial Statement Report, which is attached as Annex 2
of this release and included as Annex I of the Tender Offer Document.

The Tender Offer Document, together with Supplement No. 1 and Supplement No. 2,
is available in Finnish at the branch offices of the cooperative bank belonging
to the OP Financial Group or Helsinki OP Bank Ltd. and at Nasdaq Helsinki,
Fabianinkatu 14, FI-00130 Helsinki, Finland, at the offices of the Offeror at
Office of the Corporate Secretary, 420 Saw Mill River Road, Ardsley, NY, 10502
and on the internet at www.op.fi/merkinta,
http://ir.acorda.com/investors/Biotie-Therapies-Tender-Offer/default.aspx and
www.biotie.com/sijoittajat.

22 March 2016

ACORDA THERAPEUTICS, INC.

Annex 1: Supplement No. 2 to the Tender Offer Document

Annex 2: 2015 Financial Statement Report of Biotie Therapies Corp.



FURTHER INFORMATION

For further information, please contact:

Felicia Vonella, Investor relations

Tel. + 1 914 326 5146, e-mail: fvonella@acorda.com

About Acorda Therapeutics

Founded in 1995, Acorda Therapeutics is a biotechnology company focused on
developing therapies that restore function and improve the lives of people with
neurological disorders.

Acorda has an industry leading pipeline of novel neurological therapies
addressing a range of disorders, including Parkinson's disease, epilepsy, post-
stroke walking deficits, migraine, and multiple sclerosis. Acorda markets three
FDA-approved therapies, including AMPYRA® (dalfampridine) Extended Release
Tablets, 10 mg.

For more information, please visit www.acorda.com.

About Biotie Therapies

Biotie is a biopharmaceutical 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
H. Lundbeck A/S. The current development products include tozadenant for
Parkinson's disease, which is in 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.

For more information, please visit www.biotie.com.

Forward-Looking Statements

This press release includes forward-looking statements. All statements, other
than statements of historical facts, regarding management's expectations,
beliefs, goals, plans or prospects should be considered forward-looking. These
statements are subject to risks and uncertainties that could cause actual
results to differ materially, including:  the ability to complete the Biotie
transaction on a timely basis or at all; the ability to realize the benefits
anticipated from the Biotie and Civitas transactions, among other reasons
because acquired development programs are generally subject to all the risks
inherent in the drug development process and our knowledge of the risks
specifically relevant to acquired programs generally improves over time; the
ability to successfully integrate Biotie's operations and Civitas' operations,
respectively, into our operations; we may need to raise additional funds to
finance our expanded operations and may not be able to do so on acceptable
terms; our ability to successfully market and sell Ampyra in the U.S.; third
party payers (including governmental agencies) may not reimburse for the use of
Ampyra or our other products at acceptable rates or at all and may impose
restrictive prior authorization requirements that limit or block prescriptions;
the risk of unfavorable results from future studies of Ampyra or from our other
research and development programs, including CVT-301, Plumiaz, or any other
acquired or in-licensed programs; we may not be able to complete development of,
obtain regulatory approval for, or successfully market CVT-301, Plumiaz, any
other products under development, or the products that we would acquire if we
complete the Biotie transaction; the occurrence of adverse safety events with
our products; delays in obtaining or failure to obtain and maintain regulatory
approval of or to successfully market Fampyra outside of the U.S. and our
dependence on our collaborator Biogen in connection therewith; competition;
failure to protect our intellectual property, to defend against the intellectual
property claims of others or to obtain third party intellectual property
licenses needed for the commercialization of our products; and failure to comply
with regulatory requirements could result in adverse action by regulatory
agencies.

Additional Information

Investors and holders of Biotie equity securities are strongly advised to read
the tender offer statement, including the offer to purchase, letter of
transmittal, acceptance forms and other related tender offer documents and the
related solicitation/recommendation statement on Schedule 14D-9 that have been
filed by Biotie with the SEC, because contain important information. These
documents are available at no charge on the SEC's website at www.sec.gov. In
addition, a copy of the Tender Offer Document and related documents may be
obtained free of charge by directing a request to us at www.acorda.com or Office
of the Corporate Secretary, 420 Saw Mill River Road, Ardsley, New York 10502.

In addition to the Schedule TO, we file annual, quarterly and special reports,
proxy statements and other information with the SEC. You may read and copy any
reports, statements or other information filed by us at the SEC public reference
room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330 for further information on the public reference room. Our filings
with the SEC are also available to the public from commercial document-retrieval
services and at the website maintained by the SEC at www.sec.gov.

THE TENDER OFFER WILL NOT BE MADE DIRECTLY OR INDIRECTLY IN ANY JURISDICTION
WHERE EITHER AN OFFER OR PARTICIPATION THEREIN IS PROHIBITED BY APPLICABLE LAW
OR WHERE ANY TENDER OFFER DOCUMENT OR REGISTRATION OR OTHER REQUIREMENTS WOULD
APPLY IN ADDITION TO THOSE UNDERTAKEN IN FINLAND AND THE UNITED STATES.

IN ADDITION, THE TENDER OFFER DOCUMENT, THE RELATED DOCUMENTS AND THIS RELEASE
WILL NOT AND MAY NOT BE DISTRIBUTED, FORWARDED OR TRANSMITTED INTO OR FROM ANY
JURISDICTION WHERE PROHIBITED BY APPLICABLE LAW. IN PARTICULAR, THE TENDER OFFER
IS NOT BEING MADE, DIRECTLY OR INDIRECTLY, IN OR INTO, CANADA, JAPAN, AUSTRALIA,
SOUTH AFRICA OR HONG KONG. THE TENDER OFFER CANNOT BE ACCEPTED BY ANY SUCH USE,
MEANS OR INSTRUMENTALITY OR FROM WITHIN CANADA, JAPAN, AUSTRALIA, SOUTH AFRICA
OR HONG KONG.

This release is for informational purposes only and does not constitute a tender
offer document or an offer, solicitation of an offer or an invitation to a sales
offer. Potential investors in Finland shall accept the Tender Offer only on the
basis of the information provided in the tender offer document, as supplemented,
approved by the Finnish Financial Supervisory Authority and related materials.

ANNEX 1: SUPPLEMENT NO. 2 TO THE TENDER OFFER DOCUMENT

SUPPLEMENT NO. 2 TO THE TENDER OFFER DOCUMENT ISSUED ON 11 MARCH 2016 BY ACORDA
THERAPEUTICS, INC. RELATING TO THE VOLUNTARY PUBLIC TENDER OFFER FOR ALL OF THE
ISSUED AND OUTSTANDING SHARES, AMERICAN DEPOSITARY SHARES, STOCK OPTIONS, SHARE
UNITS AND WARRANTS IN BIOTIE THERAPIES OYJ

22 March 2016

Acorda Therapeutics, Inc. ("Acorda") supplements the tender offer document
published on 11 March 2016 ("Tender Offer Document") in accordance with the
Chapter 11, Section 11, Subsection 4 of the Finnish Securities Markets Act
(746/2012, fi: Arvopaperimarkkinalaki) as follows.

Biotie Therapies Corp. ("Biotie") published its audited financial statement
report for the financial year ended 31 December 2015 ("2015 Financial Statement
Report") on 22 March 2016. Acorda supplements Section 5.10 of the Tender Offer
Document with the 2015 Financial Statement Report, which is added as Annex I of
the Tender Offer Document.

The Tender Offer Document with the aforementioned supplements and amendments is
available from 22 March 2016.

The Finnish Financial Supervisory Authority has approved the Finnish language
version of this supplement but is not responsible for the accuracy of the
information presented therein. The decision number of such approval is FIVA
4/02.05.05/2016.


[HUG#1996743]

Viðhengi:

Annex 2_2015 Financial Statement Report of Biotie Therapies Corp..pdf