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2016-02-17

Biotie Therapies Oyj: U.S. antitrust regulation waiting period relating to tender offer has expired

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 17 February 2016,
09:00 a.m.

U.S. antitrust regulation waiting period relating to tender offer has expired

Biotie Therapies Corp. ("Biotie
" or the "Company
") has announced on 19 January 2016 that the Company and Acorda Therapeutics,
Inc. ("Acorda
") have entered into a combination agreement whereby Acorda will make a public
tender offer to purchase all of the issued and outstanding shares, American
Depositary Shares, stock options, share units and warrants in Biotie that are
not owned by Biotie or any of its subsidiaries (the "Tender Offer
").

The completion of the Tender Offer will be subject to the fulfilment of
certain conditions; including, among others, that the expiration or
termination of any applicable waiting period under the U.S. Hart-Scott-Rodino
Act. The Company has received information that the waiting period has
expired. The Acorda announcement in full has been annexed to this release.

The launch of the Tender Offer will be announced separately.

Turku, February 17, 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

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

SOME OF THE STATEMENTS CONTAINED IN THIS ANNOUNCEMENT ARE FORWARD-LOOKING
STATEMENTS, INCLUDING STATEMENTS REGARDING THE EXPECTED CONSUMMATION OF THE
ACQUISITION, WHICH INVOLVES A NUMBER OF RISKS AND UNCERTAINTIES, INCLUDING
THE SATISFACTION OF CLOSING CONDITIONS FOR THE ACQUISITION, SUCH AS
REGULATORY APPROVAL FOR THE TRANSACTION AND THE TENDER OF AT LEAST 90% OF THE
OUTSTANDING SHARES AND VOTING RIGHTS OF THE COMPANY, THE POSSIBILITY THAT THE
TRANSACTION WILL NOT BE COMPLETED AND OTHER RISKS AND UNCERTAINTIES DISCUSSED
IN THE COMPANY'S PUBLIC FILINGS WITH THE SEC, INCLUDING THE "RISK FACTORS"
SECTION OF THE COMPANY'S REGISTRATION STATEMENT ON FORM F-1 (NO. 333-204147),
AS WELL AS THE TENDER OFFER DOCUMENTS TO BE FILED BY ACORDA AND THE
SOLICITATION/RECOMMENDATION STATEMENT TO BE FILED BY THE COMPANY. 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 THE COMPANY 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.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

THE TENDER OFFER FOR THE OUTSTANDING SHARES, AMERICAN DEPOSITARY SHARES,
WARRANTS AND OTHER OUTSTANDING EQUITY INSTRUMENTS IN THE COMPANY (THE
"OFFER") HAS NOT BEEN COMMENCED. THIS ANNOUNCEMENT IS FOR INFORMATIONAL
PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO PURCHASE OR A SOLICITATION
OF AN OFFER TO SELL COMPANY SECURITIES. THE SOLICITATION AND OFFER TO BUY
COMPANY SECURITIES WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND
RELATED MATERIALS. AT THE TIME THE OFFER IS COMMENCED, ACORDA WILL FILE A
TENDER OFFER STATEMENT ON SCHEDULE TO WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION (THE "SEC") AND THEREAFTER, THE COMPANY WILL FILE A
SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WITH RESPECT TO THE
OFFER. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS
CAREFULLY WHEN THEY BECOME AVAILABLE SINCE THEY WILL CONTAIN IMPORTANT
INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER. THE OFFER TO
PURCHASE, SOLICITATION/RECOMMENDATION STATEMENT AND RELATED MATERIALS WILL BE
FILED BY ACORDA AND THE COMPANY WITH THE SEC, AND INVESTORS AND SECURITY
HOLDERS MAY OBTAIN A FREE COPY OF THESE MATERIALS (WHEN AVAILABLE) AND OTHER
DOCUMENTS FILED BY ACORDA AND THE COMPANY WITH THE SEC AT THE WEBSITE
MAINTAINED BY THE SEC AT WWW.SEC.GOV. INVESTORS AND SECURITY HOLDERS MAY ALSO
OBTAIN FREE COPIES OF THE SOLICITATION/RECOMMENDATION STATEMENT AND OTHER
DOCUMENTS FILED WITH THE SEC BY THE COMPANY AT WWW.BIOTIE.COM.
Attachment: The Acorda announcement Expiration of U.S. anti-trust regulation
waiting period

ACORDA THERAPIES INC. PRESS RELEASE 17 February 2016 at 8:30 a.m. (EET)

Acorda Announces Expiration of the Hart-Scott-Rodino Waiting Period for its
Tender Offer for Biotie Therapies

ARDSLEY, N.Y. - February 17, 2016 - Acorda Therapeutics, Inc. (Nasdaq: ACOR)
today announced that the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended (HSR), for its tender offer for Biotie
Therapies Corp. (Nasdaq Helsinki: BTH1V; Nasdaq: BITI) has expired.

Acorda announced on January 19, 2016 that it entered into an agreement to
acquire Biotie for €0.2946 per share and €23.5680 per ADS in cash. Pursuant
to the terms of the agreement, Acorda will offer to acquire all outstanding
shares, American Depositary Shares, and other equity securities of Biotie
through a public tender offer.

The expiration of the HSR waiting period satisfies one of the conditions to
the tender offer, which has not yet been commenced. The closing of the tender
offer will be subject to customary terms and conditions, unless waived by
Acorda, including the valid tender to (or other acquisition by) Acorda of at
least 90 percent of the issued and outstanding shares and voting rights of
Biotie on a fully diluted basis as described in more detail in the agreement
between Acorda and Biotie.

Lazard, MTS Health Partners and J.P. Morgan Securities LLC are serving as
financial advisors, and Kirkland &Ellis LLP, Roschier Attorneys Ltd.,
Covington &Burling LLP and Jones Day LLP are serving as legal advisors to
Acorda in connection with the tender offer. Guggenheim Securities is serving
as Biotie Therapies' financial advisor, and Davis Polk &Wardwell LLP and
Hannes Snellman Attorneys Ltd. are serving as Biotie's legal advisors.

ACORDA THERAPEUTICS, INC.

FURTHER INFORMATION

For further information, please contact:

Felicia Vonella, Investor relations

Tel. + 1 914 326 5146, e-mail: fvonella@acorda.com

About Acorda Therapeutics

Founded in 1995, Acorda Therapeutics is a biotechnology company focused on
developing therapies that restore function and improve the lives of people
with neurological disorders.

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

About Biotie Therapies

Biotie is a specialized drug development 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 further
information, please visit www.biotie.com.

Forward-Looking Statements

This press release includes forward-looking statements. All statements, other
than statements of historical facts, regarding management's expectations,
beliefs, goals, plans or prospects should be considered forward-looking.
These statements are subject to risks and uncertainties that could cause
actual results to differ materially, including the ability to complete the
Biotie transaction on a timely basis or at all; the ability to realize the
benefits anticipated to be realized by the Biotie transaction and the Civitas
transaction; the ability to successfully integrate Biotie's operations and
Civitas' operations, respectively, into our operations; we may need to raise
additional funds to finance our expanded operations and may not be able to do
so on acceptable terms; our ability to successfully market and sell Ampyra in
the U.S.; third party payers (including governmental agencies) may not
reimburse for the use of Ampyra or our other products at acceptable rates or
at all and may impose restrictive prior authorization requirements that limit
or block prescriptions; the risk of unfavorable results from future studies
of Ampyra or from our other research and development programs, including
CVT-301, Plumiaz, or any other acquired or in-licensed programs; we may not
be able to complete development of, obtain regulatory approval for, or
successfully market CVT-301, Plumiaz, or any other products under
development; the occurrence of adverse safety events with our products;
delays in obtaining or failure to obtain regulatory approval of or to
successfully market Fampyra outside of the U.S. and our dependence on our
collaboration partner Biogen in connection therewith; competition; failure to
protect our intellectual property, to defend against the intellectual
property claims of others or to obtain third party intellectual property
licenses needed for the commercialization of our products; and failure to
comply with regulatory requirements could result in adverse action by
regulatory agencies. In addition, the compounds being acquired from Biotie
are subject to all the risks inherent in the drug development process, and
there can be no assurance that these compounds will receive regulatory
approval or be commercially successful. These and other risks are described
in greater detail in our filings with the Securities and Exchange Commission.
We may not actually achieve the goals or plans described in our
forward-looking statements, and investors should not place undue reliance on
these statements. Forward-looking statements made in this release are made
only as of the date hereof, and we disclaim any intent or obligation to
update any forward-looking statements as a result of developments occurring...

Författare WKR

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