Biotie Therapies - Major shareholder announcements

Disclosure under Chapter 9, Section 5 of the Finnish Securities Markets Act

BIOTIE THERAPIES CORP.             STOCK EXCHANGE RELEASE       December
22, 2015 at 10.30 a.m.

Disclosure under Chapter 9, Section 5 of the Finnish Securities Markets Act

Biotie Therapies Corp. (Nasdaq Helsinki BTH1V; NASDAQ: BITI) ("Biotie" or the
"Company") has on December 21, 2015 received a notification in accordance with
Chapter 9, Section 5 of the Finnish Securities Markets Act from Mr. Seth Klarman
on behalf of himself, SAK Corporation and The Baupost Group, L.L.C. as a result
of the implementation of changes to the transparency directive in the Finnish
Securities Market Act.

According to the notification, the total number of Biotie shares owned directly
or through financial instruments by Seth Klarman and entities under his control
was 15.89 per cent of Biotie's total number of shares and voting rights on
November 26, 2015. Biotie's registered total number of shares and voting rights
amounting to 1,086,940,271 has been used in the calculation of percentages for
the announcement.

Total positions of Seth Klarman and entities under his control subject to the
notification:

+-----------------------+----------------+---------------------+---------------+
|                       |% of shares and |% of shares and      |Total of both  |
|                       |voting rights   |voting rights through|in % (A + B)   |
|                       |(total of A)    |financial instruments|               |
|                       |                |(total of B)         |               |
+-----------------------+----------------+---------------------+---------------+
|Resulting situation on |13.08           |2.81                 |15.89          |
|the date on which      |                |                     |               |
|threshold was crossed  |                |                     |               |
|or reached             |                |                     |               |
+-----------------------+----------------+---------------------+---------------+
|Position of previous   |10.21           |N/A                  |N/A            |
|notification (if       |                |                     |               |
|applicable)            |                |                     |               |
+-----------------------+----------------+---------------------+---------------+

Notified details of the resulting situation on the date on which the threshold
was crossed or reached:

A: Shares and voting rights

+----------------------+-----------------------------+-------------------------+
|Class/type of shares  |Number of shares and voting  |% of shares and voting   |
|ISIN code (if         |rights                       |rights                   |
|possible)             +---------+-------------------+---------+---------------+
|                      |Direct   |Indirect           |Direct   |Indirect       |
|                      |(SMA 9:5)|(SMA 9:6 and 9:7)  |(SMA 9:5)|(SMA 9:6 and   |
|                      |         |                   |         |9:7)           |
+----------------------+---------+-------------------+---------+---------------+
|Shares                |-        |30,555,556         |-        |2.81           |
|(FI0009011571)        |         |                   |         |               |
+----------------------+---------+-------------------+---------+---------------+
|Shares                |-        |111,600,000        |-        |10.27          |
|(FI0009011571)        |         |                   |         |               |
|represented by        |         |                   |         |               |
|1,395,000 ADSs        |         |                   |         |               |
+----------------------+---------+-------------------+---------+---------------+
|                      |         |                   |         |               |
+----------------------+---------+-------------------+---------+---------------+
|SUBTOTAL A            |142,155,556                  |13.08                    |
+----------------------+-----------------------------+-------------------------+

For further information on the ADSs representing the Company's shares, the
notification refers to the stock exchange release issued by the Company on June
11, 2015.

B: Financial instruments according to SMA 9:6a

+-----------------+------------+------------+------------+------------+--------+
|Type of financial|Expiration  |Exercise/   |Physical or |Number of   |% of    |
|instrument       |date        |Conversion  |cash        |shares and  |shares  |
|                 |            |period      |settlement  |voting      |and     |
|                 |            |            |            |rights      |voting  |
|                 |            |            |            |            |rights  |
+-----------------+------------+------------+------------+------------+--------+
|Warrants         |Nov 1, 2020 |Nov 1, 2015 |Physical    |30,555,556  |2.81    |
|entitling to     |            |- Nov       |settlement  |            |        |
|shares (new or   |            |1, 2020     |            |            |        |
|treasury shares) |            |            |            |            |        |
|(FI0009011571)   |            |            |            |            |        |
+-----------------+------------+------------+------------+------------+--------+
|                 |            |            |            |            |        |
+-----------------+------------+------------+------------+------------+--------+
                                            |SUBTOTAL B  |30,555,556  |2.81    |
                                            +------------+------------+--------+

For further information on the warrants, the notification refers to the stock
exchange release issued by the Company on April 23, 2015.

Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity:

+-----------------------+-----------------+----------------------+-------------+
|Name                   |% of shares and  |% of shares and voting|Total of both|
|                       |voting rights    |rights through        |             |
|                       |                 |financial instruments |             |
+-----------------------+-----------------+----------------------+-------------+
|Seth Klarman           |0                |0                     |0            |
+-----------------------+-----------------+----------------------+-------------+
|SAK Corporation        |0                |0                     |0            |
+-----------------------+-----------------+----------------------+-------------+
|The Baupost Group,     |0                |0                     |0            |
|L.L.C.                 |                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |1.28             |0.28                  |1.56         |
|Investments A-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.51             |0.11                  |0.62         |
|Investments B-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |2.90             |0.63                  |3.52         |
|Investments C-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.92             |0.20                  |1.13         |
|Investments H-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.48             |0.10                  |0.58         |
|Investments P-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.34             |0.07                  |0.41         |
|Investments Y-1, L.L.C.|                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.82             |0.18                  |0.99         |
|Investments BVI-1,     |                 |                      |             |
|L.L.C.                 |                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |1.02             |0.22                  |1.24         |
|Investments BVII-1,    |                 |                      |             |
|L.L.C.                 |                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |0.41             |0.09                  |0.50         |
|Investments BVIII-1,   |                 |                      |             |
|L.L.C.                 |                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+
|Baupost Private        |4.40             |0.94                  |5.34         |
|Investments BVIV-1,    |                 |                      |             |
|L.L.C.                 |                 |                      |             |
+-----------------------+-----------------+----------------------+-------------+

According to the notification, Seth Klarman is the sole owner of SAK
Corporation, the manager and controlling entity of The Baupost Group, L.L.C.,
which is the managing general partner of (i) Baupost Limited Partnership 1983 A-
1 (being the parent entity of Baupost Private Investments A-1, L.L.C), (ii)
Baupost Limited Partnership 1983 B-1 (being the parent entity of Baupost Private
Investments B-1, L.L.C.),
(iii) Baupost Limited Partnership 1983 C-1 (being the parent entity of Baupost
Private Investments C-1, L.L.C), (iv) Baupost Value Partners, L.P.-II (being the
parent entity of Baupost Private Investments BVII-1, L.L.C), (v) HB
Institutional Limited Partnership (being the parent entity of Baupost Private
Investments H-1, L.L.C.), (vi) PB Institutional Limited Partnership (being the
parent entity of Baupost Private Investments P-1, L.L.C.), (vii) YB
Institutional Limited Partnership (being the parent entity of Baupost Private
Investments Y-1, L.L.C.), (viii) Baupost Value Partners, L.P.-I (being the
parent entity of Baupost Private Investments BVI-1, L.L.C), (ix) Baupost Value
Partners, L.P.-III (being the parent entity of Baupost Private Investments
BVIII-1, L.L.C.) and (x) Baupost Value Partners, L.P.-IV (being the parent
entity of Baupost Private Investments BVIV-1, L.L.C.).

Further, according to the notification, neither Seth Klarman nor any other
entity under his control, other than (i) Baupost Private Investments A-1,
L.L.C., (ii) Baupost Private Investments B-1, L.L.C, (iii) Baupost Private
Investments C-1, L.L.C., (iv) Baupost Private Investments H-1, L.L.C., (v)
Baupost Private Investments P-1, L.L.C., (vi) Baupost Private Investments Y-1,
L.L.C., (vii) Baupost Private Investments BVI-1, L.L.C., (viii) Baupost Private
Investments BVII-1, L.L.C., (ix) Baupost Private Investments BVIII-1, L.L.C. and
(x) Baupost Private Investments BVIV-1, L.L.C., holds any shares or financial
instruments in the Company.

In Turku, December 22, 2015

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

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

DISTRIBUTION:

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