Biotie Therapies - Company Announcement

Biotie raises EUR 7.2 million - directed issue of new shares in Biotie Therapies Corp. more than two times oversubscribed

BIOTIE THERAPIES CORP.   STOCK EXCHANGE RELEASE 7 DECEMBER 2009 at
9.30 a.m.

Biotie raises EUR 7.2 million - directed issue of new shares in
Biotie Therapies Corp. more than two times oversubscribed

Not for release, publication or distribution, directly or indirectly,
in whole or in part, in or into the United States, Australia, Canada,
Japan or South Africa.

With reference to the share issue announced on 4 December 2009 (the"Offering"), Biotie Therapies Corp. ("Biotie") has decided to
discontinue the reception of subscription undertakings due to the
Offering having been oversubscribed more than two times by
international and Finnish institutional investors.

All 14,432,000 shares offered were subscribed at a subscription price
of EUR 0.50 per share. All offered new shares have been allocated to
a major UK institutional fund management group on the basis of
recommendation by Nomura Code Securities Limited, who acted as the
Lead Manager in the Offering. Moreover, Biotie was informed by the
Lead Manager that simultaneously with the directed Offering, they
will place certain Biotie shares previously held by certain European
venture capital investors to new institutional investors to satisfy
the excess demand in the oversubscribed offering.

The subscription price for all new shares totalled at EUR 7,216,000
and as a result, the share capital of Biotie will be increased by
such amount. After the registration of the new shares with the
Finnish Trade Register, the share capital in Biotie will be EUR
51,506,678.10, and the total number of shares will be 158,752,560 and
number of votes 158,289,305.

Timo Veromaa, President and CEO of Biotie, commented: "We are very
pleased with the increasing investor interest in the company as we
expect next year to be very exciting for Biotie. All our clinical
programs are expected to reach decisive points in their development
within the next 18 months and we are happy to see this strong support
from the investment community. With the proceeds from this offering
we have further strengthened our cash position and will be financed
well into 2011".

The new shares subscribed will be issued as book-entries in the
Finnish book-entry system maintained by Euroclear Finland Ltd and
will be entered on the subscriber's book-entry accounts as interim
shares corresponding to the new shares against the payment of the
subscription price on December 11,2009. Trading with the interim
shares (ISIN: FI4000007570 and trading symbol: BTH1VN0109) is
expected to commence on 8 December 2009 as a separate class of
securities. The interim shares will be combined with Biotie's current
class of shares after the registration of the new shares with the
Finnish Trade Register, on or about 14 December 2009. The new shares
entitle to the exercise of the rights belonging to a shareholder once
the new shares have been registered with the Finnish Trade Register.


In Turku, 7 December 2009

Biotie Therapies Corp.
Timo Veromaa
President and CEO

For further information, please contact:
Virve Nurmi, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: virve.nurmi@biotie.com
www.biotie.com

DISTRIBUTION:

NASDAQ OMX Helsinki Ltd
Main Media

DISCLAIMER:

The information herein may not be distributed or sent into the United
States, Australia, Canada, Japan or South Africa. The information
contained herein shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
securities referred to herein in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration,
exemption from registration or qualification under the securities
laws of any such jurisdiction.

The information contained herein does not constitute an offer of
securities for sale in the United States. The securities referenced
in this release may not be offered or sold in the United States
absent registration or an exemption from registration as provided in
the United States Securities Act of 1933, as amended, and the rules
and regulations thereunder. Biotie Therapies Corporation does not
intend to register any portion of the placement in the United States
or to conduct a public offering of any securities in the United
States.

This communication does not constitute an offer of securities to the
public in the United Kingdom. This communication is directed only at
(i) persons who are outside the United Kingdom, (ii) persons who have
professional experience in matters relating to investments falling
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "FP Order") and (iii) high net
worth entities falling within Article 49(2) of the FP Order, and
other persons to whom it may lawfully be communicated, (all such
persons together being referred to as "relevant persons"). Any
investment activity to which this communication relates will only be
available to, and will only be engaged with, relevant persons. Any
person who is not a relevant person should not act or rely on this
document or any of its contents.

Nomura Code Securities Limited ("Nomura") is acting exclusively for
Biotie Therapies Corporation and no one else in connection with the
placing. It will not regard any other person (whether or not a
recipient of this release) and will not be responsible to anyone
other than Biotie Therapies Corporation for providing the protections
afforded to its clients, nor for giving advice in relation to the
placing or any transaction or arrangement referred to herein. No
representation or warranty, express or implied, is made by Nomura as
to the accuracy, completeness or verification of the information set
forth in this release.