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2016-05-18

Biotie Therapies Oyj: BIOTIE TO DELIST ITS ADS FROM THE NASDAQ GLOBAL SELECT MARKET

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

BIOTIE THERAPIES CORP. TO DELIST ITS AMERICAN DEPOSITARY SHARES FROM THE
NASDAQ GLOBAL SELECT MARKET

Biotie Therapies Corp.'s (Nasdaq Helsinki: BTH1V; Nasdaq: BITI) ("Biotie
") Board of Directors has on 17 May 2016 resolved to voluntarily delist its
American Depositary Shares ("ADSs
"), each representing 80 Biotie ordinary shares with no nominal value ("Shares
"), from the NASDAQ Global Select Market ("NASDAQ
US
").

Biotie will deliver today written notice to NASDAQ US of its intention to
delist. Biotie believes the delisting of its ADSs from NASDAQ US is in the
best interests of Biotie and its shareholders in light of the recent
completion of the voluntary public tender offer by Acorda Therapeutics, Inc.
(Nasdaq: ACOR) ("Acorda
") to purchase all of the issued and outstanding Biotie Shares, ADSs, stock
options, share units and warrants in Biotie not owned by Biotie or any of its
subsidiaries (the "Tender Offer
"). Following completion of the Tender Offer, Acorda owns approximately 96.8
percent of all the Shares and votes in Biotie (excluding treasury shares held
by Biotie). By exercising the other equity interests acquired in the Tender
Offer for the subscription of Shares, Acorda could increase its holding to
approximately 97.4 percent of all the Shares and votes in Biotie (excluding
treasury shares held by Biotie).

Biotie currently intends to file with the U.S. Securities and Exchange
Commission (the "Commission
"), on or about 31 May 2016, an application on Form 25 to notify the
Commission of the delisting of its ADSs from NASDAQ US. The delisting will be
effective ten (10) calendar days after the filing of the Form 25. This means
that, as of 10 June 2016, the ADSs will not be tradable on any regulated
security exchange. Biotie Shares will remain listed on Nasdaq Helsinki Ltd.,
although Biotie intends to delist the Shares from Nasdaq Helsinki Ltd. as
soon as permitted and practicable under applicable laws.

Biotie's reporting obligations under applicable U.S. securities laws will
continue after the delisting. Following satisfaction of the relevant
deregistration conditions under the applicable U.S. securities laws, Biotie
intends to terminate its reporting obligations under U.S. securities laws and
deregister all classes of its registered securities. Following termination of
Biotie's reporting obligations under the U.S. Securities Exchange Act of
1934, much less information about Biotie will be available pursuant to the
U.S. securities laws. Biotie intends to release further information on such
deregistration and termination of reporting obligations at a later date.
Biotie reserves the right, for any reason, to delay these filings, to
withdraw them prior to effectiveness, and to otherwise change its plans in
respect of delisting, deregistration and termination of reporting obligations
in any way.

As previously announced, Acorda's intention is to acquire all the remaining
Biotie Shares and ADSs. As Acorda's ownership in Biotie has exceeded
nine-tenths (9/10) of the Shares and voting rights in Biotie through the
Tender Offer, Acorda has filed an application with the Redemption Committee
of the Finland Chamber of Commerce to initiate compulsory redemption
proceedings for the remaining Biotie Shares under the Finnish Companies Act
(the "Subsequent Compulsory Redemption
"). Although holders of ADSs will not participate personally in the Subsequent
Compulsory Redemption (unless they wish to do so and withdraw their Shares
from the ADS program), subject to the terms of the ADS deposit agreement and
less any fees and expenses incurred under the ADS deposit agreement, holders
of ADSs will be entitled to receive the value determined in the Subsequent
Compulsory Redemption proceedings for each Biotie Share represented by their
ADSs.

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

INFORMATION REGARDING BIOTIE

Biotie is a biopharmaceutical company focused on products for
neurodegenerative and psychiatric disorders. Biotie's development has
delivered Selincro (nalmefene) for alcohol dependence, which received
European marketing authorization in 2013 and is currently being rolled out
across Europe by partner H. Lundbeck A/S. The current development products
include tozadenant for Parkinson's disease, which is in Phase 3 development,
and two additional compounds which are in Phase 2 development for cognitive
disorders including Parkinson's disease dementia, and primary sclerosing
cholangitis (PSC), a rare fibrotic disease of the liver.

For more information, please visit www.biotie.com.

INFORMATION REGARDING ACORDA

Founded in 1995, Acorda is a biotechnology company focused on developing
therapies that restore function and improve the lives of people with
neurological disorders, with its common stock listed on Nasdaq US.

Acorda has an industry leading pipeline of novel neurological therapies
addressing a range of disorders, including Parkinson's disease, epilepsy,
post-stroke walking deficits, migraine, and multiple sclerosis. Acorda
markets three FDA-approved therapies, including AMPYRA® (dalfampridine)
Extended Release Tablets, 10 mg.

For more information, please visit www.acorda.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Some of the statements contained in this announcement are forward-looking
statements, including statements regarding the expected timeline for Biotie's
filing of the Form 25, the delisting of the ADSs from NASDAQ US and Biotie's
deregistration from U.S. reporting obligations, which involve a number of
risks and uncertainties. These statements are based on current expectations,
assumptions, estimates and projections, and involve known and unknown risks,
uncertainties and other factors that may cause results, levels of activity,
performance or achievements to be materially different from any future
statements. These statements are generally identified by words or phrases
such as "believe", "anticipate", "expect", "intend", "plan", "will", "may",
"should", "estimate", "predict", "potential", "continue" or the negative of
such terms or other similar expressions. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results and
the timing of events may differ materially from the expected results and/or
timing discussed in the forward-looking statements, and you should not place
undue reliance on these statements. Acorda and Biotie disclaim any intent or
obligation to update any forward-looking statements as a result of
developments occurring after the period covered by this announcement or
otherwise.

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

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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