Biotie Therapies - Company Announcement

BIOTIE CANCELS ALL TREASURY SHARES HELD BY THE COMPANY

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

BIOTIE THERAPIES CORP. CANCELS ALL TREASURY SHARES HELD BY THE COMPANY

Biotie Therapies Corp.'s (Nasdaq Helsinki: BTH1V; Nasdaq: BITI) ("Biotie" or the
"Company") Board of Directors has today resolved to cancel all 106,088,336
treasury shares held by the Company (the "Treasury Shares").

The Treasury Shares were initially issued for the purposes of facilitating the
timely delivery by the Company of such Treasury Shares underlying the warrants
issued in May 2015 to certain US investors and certain existing shareholders, if
such warrants would be exercised, as announced on 7 October 2015. The Treasury
Shares are no longer needed as after the completion of the tender offer by
Acorda Therapeutics, Inc. (Nasdaq: ACOR) ("Acorda") of all the issued and
outstanding equity interests in Biotie not owned by the Company or any of its
subsidiaries, Acorda holds all of the warrants referred to above and is not
intending to exercise them.

The cancellation of the Treasury Shares will be registered with the Finnish
Trade Register on or about 24 May 2016. After the cancellation of the Treasury
Shares is registered with the Finnish Trade Register, Biotie will have
983,519,747 shares in total of which 980,921,795 will be outstanding shares.


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




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