Biotie Therapies - Company Announcement

The acquisition of Synosia Therapeutics Holding AG completed

BIOTIE THERAPIES CORP.    STOCK EXCHANGE RELEASE    2 February 2011 at 9.50 a.m.

The acquisition of Synosia Therapeutics Holding AG completed

Biotie Therapies Corp. ("Biotie" or the "Company"), Synosia Therapeutics
Holding AG (“Synosia”) and Synosia's shareholders and warrant holders have on
10 January 2011 entered into a combination agreement through which Biotie will
issue new shares to the shareholders and warrant holders of privately-owned
Synosia in an acquisition of the entire issued share capital and outstanding
warrants of Synosia (the "Transaction"). Biotie has disclosed the details of
and conditions to the completion of the Transaction as well as a description of
the combined entity in a stock exchange release published on 11 January 2011. 

The Extraordinary General Meeting has on 1 February 2011 passed resolutions
necessary for the completion of the Transaction and the other prerequisites for
the completion of the Transaction have been fulfilled. 

The issue of the new shares in the acquisition of Synosia and their
subscriptions and payment have been completed, and the title to the share
capital of Synosia and outstanding warrants of Synosia has been transferred to
Biotie. As consideration for the entire share capital in Synosia and
outstanding warrants of Synosia, Biotie has issued 161,448,371 new shares to
Synosia shareholders and warrant holders (the "Consideration Shares"). Based on
Biotie's closing share price on 10 January 2011 of EUR 0.58, the Transaction is
valued at EUR 93.6 million. In addition, 14,912,155 shares has been issued to
Synosia to be held in treasury and used to satisfy future potential exercise of
Synosia's options (the "Additional Treasury Shares" and together with the
Consideration Shares, the "New Shares"). 

The New Shares shall be registered approximately on 3 February 2011 and
admitted to public trading on the main list of NASDAQ OMX Helsinki Ltd
approximately on Friday, 4 February 2011. 

In the Combination Agreement, it is agreed that the shares issued to Synosia
shareholders and warrant holders may not be transferred during a period of
twelve (12) months from the completion of the Transaction without the prior
written consent of the Board of Directors of Biotie, however provided that the
above transfer restrictions do not apply in relation to certain situations such
as offers made for Biotie shares that would result in the offer or obtaining
control of Biotie, or disposals required by any law, competent authority or
court order. 

The number of the New Shares issued represents 50.1 per cent of Biotie's issued
share capital and votes attaching thereto after the Transaction. 

Following the registration of the New Shares, Biotie has the aggregate of
352,364,457 shares and the aggregate share capital of EUR 138,931,556.59. 

In Turku, 2 February 2011

Biotie Therapies Corp.

Board of Directors

For further information, please contact
Virve Nurmi, Investor Relations Manager, Biotie Therapies Corp.
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com

www.biotie.com

Distribution:
NASDAQ OMX Helsinki Ltd.
Main Media