Biotie Therapies - Company Announcement

Biotie decides not to exercise option to acquire Neurelis, Inc. but retains economic interest in future success of NRL-1

BIOTIE THERAPIES CORP.     STOCK EXCHANGE RELEASE     11 July 2014 at 10.03 a.m.



Biotie decides not to exercise option to acquire Neurelis, Inc. but retains
economic interest in future success of NRL-1 

Biotie Therapies Corp. ("Biotie") today announced that it has decided not to
exercise its exclusive option to acquire Neurelis, Inc. ("Neurelis"), a private
specialty pharmaceutical company. In consideration of the timely transfer of
the program to Neurelis, Biotie and Neurelis have agreed that Biotie may
recover the cost of its investment to date in Neurelis' lead product NRL-1
through a share of future revenue generated by Neurelis.  Neurelis plans to
commence the remaining development program and proceed with clinical trials
which have been agreed with the FDA. NRL-1 is a proprietary intranasal
formulation of diazepam for pediatric and adult epilepsy patients who
experience acute repetitive seizures. 

Timo Veromaa, President and Chief Executive Officer of Biotie said "Following
the return of full global rights of tozadenant to Biotie in March 2014 we have
now decided not to pursue further development of NRL-1 and wish Neurelis
success with this important product. Biotie remains committed to starting Phase
3 with tozadenant in Parkinson's disease in the first half of 2015, and we look
forward to the start of Phase 2 studies for SYN120 in Parkinson's disease
dementia and BTT-1023 for Primary Sclerosing Cholangitis by the end of 2014,
and delivering top-line data from the ongoing Phase 2 study with nepicastat in
cocaine dependence, also around end 2014."

Turku, 11 July 2014

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

Timo Veromaa President and CEO
tel. +358 2274 8900, email: timo.veromaa@biotie.com

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

www.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. For the past years, Biotie has
successfully operated a strategy built around search, profile and partner. This
has delivered Selincro (nalmefene) for alcohol dependence, which received
European marketing authorization in February 2013 and is currently being rolled
out across Europe by partner H. Lundbeck A/S, and tozadenant, a novel A2a
antagonist which is transitioning into Phase 3 development for Parkinson's
disease and for which Biotie holds exclusive, global rights. Biotie is actively
developing its pipeline assets, including SYN120, a unique potent 5-HT6/5-HT2a
dual antagonist for which Biotie initially expects to conduct a Phase 2 study
in Parkinson's disease dementia that is largely funded by the Michael J Fox
Foundation; nepicastat, a selective inhibitor of dopamine beta hydroxylase
which is currently in a Phase 2 study, fully funded by NIDA, for treatment
seeking cocaine addicts; and BTT-1023, a monoclonal antibody targeting Vascular
Adhesion Protein 1 for which Biotie intends to conduct a Phase 2 study in
primary sclerosing cholangitis, a rare fibrotic disease of the liver. Biotie's
shares are listed on NASDAQ OMX Helsinki. 



About NRL-1

NRL-1 (intranasal diazepam) is a proprietary formulation of diazepam delivered
via an already marketed nasal sprayer, being developed for the management of
pediatric and adult patients who require intermittent use of diazepam to
control bouts of acute repetitive seizure activity.  In clinical trials, NRL-1
has demonstrated high bioavailability, low variability from dose to dose, and
was well-tolerated.  There are over 2.7 million people with epilepsy in the
United States with approximately 200,000 new patients diagnosed each year.  It
is estimated that between 30% and 40% of these patients are uncontrolled on
oral therapy and are at-risk for acute breakthrough seizures.  Studies have
shown that prolonged or repetitive seizures can cause neurological damage and
dramatically increase the risk of changes in neuropsychological function or
even death. 

Presently, the only product approved in the US for the treatment of acute
repetitive seizures outside of the hospital setting, is a rectally administered
formulation of diazepam called Diastat®.  Because of its rectal mode of
administration, Diastat® has been primarily relegated to use in younger
pediatric patients (usually less than 10 years of age).  The majority of
patients with acute repetitive seizures however, are currently seen in
emergency rooms and treated with intravenous benzodiazepines.  Most of these
patients are admitted to the hospital.  Intranasal diazepam has the potential
to provide a superior alternative to either rectal administration of Diastat®
or the need to visit the emergency room for intravenous administration of
drugs. 



About Neurelis

Neurelis, Inc. is a San Diego-based specialty pharmaceutical company organized
to license, develop, and commercialize product candidates for epilepsy and the
broader central nervous system (CNS) market.  Neurelis leverages expertise in
the development and commercialization of CNS compounds and strong relationships
with leading researchers and clinicians in these markets to advance unique
product candidates to address significant unmet medical needs.