Biotie's VAP-1 antibody program to proceed to clinical studies in rheumatoid arthritis and psoriasis patients

BIOTIE THERAPIES CORP.    STOCK EXCHANGE RELEASE   June 18, 2008 at
10.15 a.m.


BIOTIE'S VAP-1 ANTIBODY PROGRAM TO PROCEED TO CLINICAL STUDIES IN
RHEUMATOID ARTHRITIS AND PSORIASIS PATIENTS

Top-line data from the first-in-man study with Biotie's fully human
VAP-1 monoclonal antibody BTT-1023 have become available. The study
was conducted in a clinical pharmacology unit in the United Kingdom
and investigated the safety, tolerability and pharmacokinetic
characteristics of single intravenous doses of BTT-1023 in healthy
volunteer subjects.

A total of 35 subjects, of whom 29 received BTT-1023, were enrolled
into the placebo-controlled study. BTT-1023 was generally well
tolerated and no serious adverse events were reported in the study.
Among the five subjects who received the highest dose, facial
flushing was reported by two subjects with accompanying facial oedema
in one of the two. These were reported during or shortly after the
infusion and are not uncommon events in association with intravenous
administration of therapeutic protein drugs. No cytokine release or
fever was observed in any subject. All adverse events were fully
reversible and required no particular intervention.

The data from the study support proceeding to clinical studies with
repeated doses of the antibody. These studies are expected to be
carried out in rheumatoid arthritis and psoriasis patients and will
aim to establish appropriate dosing regimens for subsequent
therapeutic studies and provide initial information on the
therapeutic potential of BTT-1023. The studies are expected to start
in the end of 2008.

Turku June 18, 2008

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

Timo Veromaa, President and CEO, Biotie Therapies Corp.
tel. +358 2 274 8901, e-mail: timo.veromaa@biotie.com

www.biotie.com

Distribution:

OMX Nordic Exchange Helsinki
Main Media


Biotie and Roche have signed an option agreement for the antibody
program targeting VAP-1. Under the terms of the agreement, Roche has
paid an option initiation fee of EUR 5 million, which grants Roche an
exclusive option right to an exclusive, worldwide license agreement
for Biotie's fully human antibody targeting VAP-1, excluding Japan,
Taiwan, Singapore, New Zealand, and Australia. The initial option
right will end upon completion of Phase I. Roche may extend the
option right to later development points by paying additional fees.
Biotie will retain all rights to the program until a license is
granted to Roche.

The company does not expect Roche to use its option during 2008.

Inhibiting VAP-1 reduces inflammation by regulating the migration of
leukocytes, or white blood cells, to inflamed tissues. Pathological
accumulation of white blood cells in tissue is a common feature in
many autoimmune diseases, such as rheumatoid arthritis, ulcerative
colitis, and psoriasis.