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2016-05-18

Biotie Therapies Oyj: 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

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Biotie Therapies Oyj via Globenewswire

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