Biotie Therapies - Company Announcement

Lundbeck announces start of new phase III clinical trials with nalmefene

BIOTIE THERAPIES CORP.    STOCK EXCHANGE RELEASE 15 December, 2008 at 9.30      
a.m.		                                                                          
Lundbeck announces start of new phase III clinical trials with nalmefene        


Biotie's license partner, H. Lundbeck A/S (Lundbeck), announced today that it is
initiating three phase III clinical trials with nalmefene for the treatment of  
alcohol dependence.                                                             

Nalmefene builds on a novel principle of treating alcohol dependence. Unlike    
existing therapies, the treatment with nalmefene is not aimed at keeping the    
patients from drinking. Nalmefene instead removes the desire to drink more,     
thereby controlling and limiting the intake of alcohol. In addition, nalmefene  
distinguishes itself by being available as a tablet formulation to be taken only
according to need, whereas existing pharmaceuticals must be taken continuously  
over a longer period of time.                                                   

Biotie's previously conducted study in 400 alcoholic patients documented        
nalmefene's ability to significantly limit both the patient's average alcohol   
intake and the number of days with an intake above five units of alcohol. This  
means a sharp reduction in patients' risk of developing diseases such as various
cancers, cardiovascular diseases and cirrhosis of the liver. Previous trials    
have also shown nalmefene to be well-tolerated and safe.                        

Based on the earlier Biotie-sponsored trials, Lundbeck is now launching three   
phase III trials enrolling more than 1,800 patients randomised into groups      
receiving nalmefene or placebo. The first two trials, in which patients are     
treated over a period of six months, primarily aim to demonstrate the efficacy  
of nalmefene, whilst the objective of the last study, in which patients are     
treated for 12 months, is particularly to confirm that the compound is          
well-tolerated. The first data from the trials are expected in the first half of
2011.                                                                           

“Nalmefene offers a rare opportunity for us to provide a new and more effective 
treatment of alcohol dependence, which causes major harm to millions of people  
worldwide,” says Executive Vice President Anders Gersel Pedersen, Head of Drug  
Development at Lundbeck.                                                        

“We are pleased with Lundbeck's commitment with nalmefene and believe that      
Lundbeck, with its impressive track record in the CNS space, is an ideal partner
for us in the continuing development and ultimately commercialisation of        
nalmefene. We remain confident that nalmefene will generate significant revenues
to the company in the long term,” says Timo Veromaa, President and CEO of Biotie
Therapies Corp.                                                              

About nalmefene                                                                 
Nalmefene is an opioid receptor antagonist. The compound acts by blocking the   
mechanism in the brain that can cause a continuing and uncontrolled intake of   
alcohol. This helps to control and limit the intake.                            

Nalmefene was originally developed by Biotie. Lundbeck holds the global rights  
to the compound with the exception of North America, Mexico, Turkey and South   
Korea.                                                                          

Turku, 15 December 2008                                                         

Timo Veromaa                                                                    
President and CEO                                                               

For further information, please contact:                                        

Timo Veromaa, President and CEO, Biotie Therapies Corp.                         
tel. +358 2 274 8900, e-mail: timo.veromaa@biotie.com                           
www.biotie.com                                                                  

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About Biotie                                                                    
Biotie Therapies Corp. is a drug development company with operations in Turku,  
Finland and Radebeul, Germany.                                                  
The company focuses in discovery and                                            
development of therapeutics for central nervous system (addiction, psychotic    
disorders) and inflammatory diseases (e.g. rheumatoid arthritis, psoriasis      
and COPD).                                                                      

Biotie has a broad range of innovative drug candidates at different stages of   
clinical and pre-clinical development. The product pipeline represents a        
compelling range of new drugs for diseases with high unmet medical need. For    
more information, please visit www.biotie.com.                                  

About Lundbeck                                                                  
H. Lundbeck A/S is an international pharmaceutical company engaged in the       
research and development, production, marketing and sale of pharmaceuticals for 
the treatment of psychiatric and neurological disorders. In 2007, the company's 
revenue was DKK 11 billion (approximately EUR 1.5 billion or USD 2.0 billion).  
The number of employees is approx. 5,300 globally. For more information, please 
visit www.lundbeck.com.