Biotie Therapies - Company Announcement

BIOTIE TO DELIST ITS ADS FROM THE NASDAQ GLOBAL SELECT MARKET

BIOTIE THERAPIES CORP.         STOCK  EXCHANGE  RELEASE    18 May 2016, at 9.00
a.m. (EET)

BIOTIE THERAPIES CORP. TO DELIST ITS AMERICAN DEPOSITARY SHARES FROM THE NASDAQ
GLOBAL SELECT MARKET

Biotie Therapies Corp.'s (Nasdaq Helsinki: BTH1V; Nasdaq: BITI) ("Biotie") Board
of Directors has on 17 May 2016 resolved to voluntarily delist its American
Depositary Shares ("ADSs"), each representing 80 Biotie ordinary shares with no
nominal value ("Shares"), from the NASDAQ Global Select Market ("NASDAQ US").

Biotie will deliver today written notice to NASDAQ US of its intention to
delist. Biotie believes the delisting of its ADSs from NASDAQ US is in the best
interests of Biotie and its shareholders in light of the recent completion of
the voluntary public tender offer by Acorda Therapeutics, Inc. (Nasdaq: ACOR)
("Acorda") to purchase all of the issued and outstanding Biotie Shares, ADSs,
stock options, share units and warrants in Biotie not owned by Biotie or any of
its subsidiaries (the "Tender Offer"). Following completion of the Tender Offer,
Acorda owns approximately 96.8 percent of all the Shares and votes in Biotie
(excluding treasury shares held by Biotie). By exercising the other equity
interests acquired in the Tender Offer for the subscription of Shares, Acorda
could increase its holding to approximately 97.4 percent of all the Shares and
votes in Biotie (excluding treasury shares held by Biotie).

Biotie currently intends to file with the U.S. Securities and Exchange
Commission (the "Commission"), on or about 31 May 2016, an application on Form
25 to notify the Commission of the delisting of its ADSs from NASDAQ US. The
delisting will be effective ten (10) calendar days after the filing of the Form
25. This means that, as of 10 June 2016, the ADSs will not be tradable on any
regulated security exchange. Biotie Shares will remain listed on Nasdaq Helsinki
Ltd., although Biotie intends to delist the Shares from Nasdaq Helsinki Ltd. as
soon as permitted and practicable under applicable laws.

Biotie's reporting obligations under applicable U.S. securities laws will
continue after the delisting. Following satisfaction of the relevant
deregistration conditions under the applicable U.S. securities laws, Biotie
intends to terminate its reporting obligations under U.S. securities laws and
deregister all classes of its registered securities. Following termination of
Biotie's reporting obligations under the U.S. Securities Exchange Act of 1934,
much less information about Biotie will be available pursuant to the U.S.
securities laws. Biotie intends to release further information on such
deregistration and termination of reporting obligations at a later date. Biotie
reserves the right, for any reason, to delay these filings, to withdraw them
prior to effectiveness, and to otherwise change its plans in respect of
delisting, deregistration and termination of reporting obligations in any way.

As previously announced, Acorda's intention is to acquire all the remaining
Biotie Shares and ADSs. As Acorda's ownership in Biotie has exceeded nine-tenths
(9/10) of the Shares and voting rights in Biotie through the Tender Offer,
Acorda has filed an application with the Redemption Committee of the Finland
Chamber of Commerce to initiate compulsory redemption proceedings for the
remaining Biotie Shares under the Finnish Companies Act (the "Subsequent
Compulsory Redemption"). Although holders of ADSs will not participate
personally in the Subsequent Compulsory Redemption (unless they wish to do so
and withdraw their Shares from the ADS program), subject to the terms of the ADS
deposit agreement and less any fees and expenses incurred under the ADS deposit
agreement, holders of ADSs will be entitled to receive the value determined in
the Subsequent Compulsory Redemption proceedings for each Biotie Share
represented by their ADSs.


Turku, 18 May 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 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.

INFORMATION REGARDING ACORDA

Founded in 1995, Acorda is a biotechnology company focused on developing
therapies that restore function and 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 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Some of the statements contained in this announcement are forward-looking
statements, including statements regarding the expected timeline for Biotie's
filing of the Form 25, the delisting of the ADSs from NASDAQ US and Biotie's
deregistration from U.S. reporting obligations, which involve a number of risks
and uncertainties. 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 Biotie 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.


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