Biotie Therapies - Company Announcement

Directed issue of new shares in Biotie Therapies Corp. to institutional investors

BIOTIE THERAPIES CORP.   STOCK EXCHANGE RELEASE 4 DECEMBER 2009
at 9.10 p.m.


Directed issue of new shares in Biotie Therapies Corp. to
institutional investors

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.

The Board of Directors of Biotie Therapies Corp. ("Biotie" or"Company") has decided to offer a maximum of 14,432,000 new shares in
Biotie through a directed share issue against cash payment. The
subscription price is EUR 0.50 per share.

The new shares will be offered in deviation from the shareholders'
pre-emptive subscription right to a limited number of institutional
investors in Finland and internationally (the "Offering"). Biotie has
engaged Nomura Code Securities Limited to act as the lead manager in
connection with the Offering. The Offering is made in order to
strengthen Biotie's working capital, to provide further financing for
the Company's R&D programs and to extend the Company's shareholder
base.

The subscription period will end on 7 December 2009 at 11 a.m.
(Finnish time). In the event of oversubscription, the Offering may be
completed prematurely. The subscription price of EUR 0.50 per share
was determined by the Board of Directors on the basis of the current
price of Biotie's share in the trading on the NASDAQ OMX Helsinki
stock exchange, and based on the recommendation by the lead manager.

The new shares are offered based on the authorisation by the
Extraordinary General Meeting of Shareholders of Biotie held on 29
October 2009. The new shares will amount to approximately 9.99 per
cent of the total number of shares and votes in Biotie before the
Offering, and approximately 9.1 per cent of the total number of
shares and votes in Biotie after the Offering provided that the
Offering is subscribed in full. The subscription price of the new
shares will be registered in its entirety to the share capital of
Biotie.

In Turku, 4 December 2009

Biotie Therapies Corp.
The Board of Directors


For further information, please contact:

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

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) as its respective and will not be
responsible to anyone other than Biotie Therapies Corp 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.