Biotie: Selincro enters the market in Italy

Biotie: Selincro enters the market in Italy

TURKU, Sept. 26, 2013 (GLOBE NEWSWIRE) -- BIOTIE THERAPIES CORP.  STOCK
EXCHANGE RELEASE  26 September 2013 at 9.00 a.m.

Biotie: Selincro enters the market in Italy

Biotie today announced that its partner H.Lundbeck A/S (Lundbeck) has brought
Selincro on the market in Italy. According to the terms of the license
agreement between Biotie and Lundbeck for Selincro, Biotie is eligible for a
milestone payment of EUR 2 million related to the market entry. Lundbeck will
continue the rollout of Selincro in additional European markets through 2013
and into 2014.

Turku, 26 September 2013

Biotie Therapies Corp.

Timo Veromaa
President and CEO

For further information, please contact:

Virve Nurmi, Investor Relations Manager
tel. +358 2 274 8900, e-mail: virve.nurmi@biotie.com

Distribution:

NASDAQ OMX Helsinki Ltd
Main Media
www.biotie.com

ABOUT SELINCRO (nalmefene):

Selincro is indicated for the reduction of alcohol consumption in adult
patients with alcohol dependence who have a high drinking risk level ( > 60
g/day for men, > 40 g/day for women) without physical withdrawal symptoms and
who do not require immediate detoxification. Selincro should be prescribed in
conjunction with continuous psychosocial support focused on treatment
adherence and the reduction of alcohol consumption. Treatment should be
initiated only in patients who continue to have a high drinking risk level two
weeks after an initial assessment. Selincro is to be taken as-needed; that is,
on each day the patient perceives a risk of drinking alcohol, one tablet
should be taken, preferably 1-2 hours prior to the anticipated time of
drinking.

Biotie has licensed global rights to Selincro to Lundbeck. Under the terms of
the agreement, Biotie is eligible for up to EUR 89 million in upfront and
milestone payments plus royalties on sales of Selincro. Upon payment of the
milestone for market entry in Italy, Biotie will have received EUR 16 million
of such milestone payments from Lundbeck. Further payments of EUR 2 million
are expected on commercial launch of Selincro in each of France, Germany and
Spain, and further potential milestone payments on launches in certain other
markets and if the product reaches certain predetermined sales. In addition,
Biotie will continue to receive royalties on sales in all launched markets and
make a contribution to Lundbeck towards any required post approval commitments
studies, neither of which are expected to have a significant financial impact
in 2013. Lundbeck is responsible for the registration, manufacturing and
marketing of the product.

ABOUT BIOTIE

Biotie is a specialized drug development company focused primarily on products
for neurodegenerative and psychiatric disorders. For the past years, Biotie
has successfully operated a strategy built around search, profile and partner.
This has delivered Selincro (nalmefene) for alcohol dependency, which received
European marketing authorization in February 2013 and is currently being
rolled out across Europe by partner H. Lundbeck A/S, and tozadenant, a novel
A2a antagonist which is transitioning into Phase 3 development for Parkinson's
disease in collaboration with UCB Pharma S.A.. Biotie also has exclusive
rights through an option to acquire Neurelis Inc., which includes NRL-1, an
intranasal formulation of diazepam for epileptic seizure management. Biotie
plans to seek further opportunities of this kind to generate a strong
portfolio of products. Biotie's shares are listed on NASDAQ OMX Helsinki. 
 
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