Biotie Therapies - Company Announcement

BIOTIE S VAP-1 ANTIBODY ENTERS CLINICAL DEVELOPMENT PHASE

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE
September 25, 2007

Biotie has started the first phase I clinical trial with its fully
human VAP-1 monoclonal antibody as it has received the final
regulatory approval to do so. The study start triggers a EUR 2
million payment from Roche.

This first-in-man study evaluates the safety, tolerability, and
pharmacokinetics of intravenously administered antibody in healthy
volunteers. Results are expected during the second quarter of 2008.

In November 2006, Biotie and Roche signed an option agreement for
Biotie's fully human antibody program targeting Vascular Adhesion
Protein-1 (VAP-1) in inflammatory diseases.

Under the terms of the agreement, Roche will pay an option initiation
fee of EUR 5 million, which grants Roche an exclusive option right to
an exclusive, worldwide license agreement for Biotie's fully human
antibody targeting VAP-1, excluding Japan, Taiwan, Singapore, New
Zealand, and Australia. The option initiation fee will be paid in two
instalments. Biotie received the first instalment of EUR 3 million in
2006 and Roche will pay the second instalment of EUR 2 million in
2007 triggered by the study start. The initial option right will end
upon completion of Phase I. Roche may extend the option right to
later development points by paying additional fees. Biotie will
retain all rights to the program until a license is granted to Roche.

Inhibiting VAP-1 reduces inflammation by regulating the migration of
leukocytes, or white blood cells, to inflamed tissues. Pathological
accumulation of white blood cells in tissue is a common feature in
many autoimmune diseases, such as rheumatoid arthritis, ulcerative
colitis, and psoriasis.




Turku, September 25, 2007

Biotie Therapies Corp.


Timo Veromaa
President and CEO


For further information, please contact:

Timo Veromaa, President and CEO, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: timo.veromaa@biotie.com

www.biotie.com

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