Amendment to the release on UCB license of worldwide rights to tozadenant in Parkinson's disease from Biotie

BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 27 February 2013 at 9.00 a.m.

Amendment to the release on UCB license of worldwide rights to tozadenant in Parkinson`s disease from Biotie

With reference to the stock exchange release on 26 February 2013 at 7:00 p.m. Biotie clarifies that the additional milestones under the revised agreement and Biotie being responsible for conducting phase 3 development of tozadenant are not likely to have significant impact on profitability of Biotie during the duration of the clinical development. The amended release in its entirety may be found below.

UCB to license worldwide rights to tozadenant in Parkinson`s disease from Biotie

Novel product in development for the treatment of people living with Parkinson`s disease

Biotie receives USD 20 million license fee payment

Original agreement modified: Biotie to conduct phase 3 development

Biotie and UCB announced today that UCB has licensed worldwide exclusive rights to Biotie`s tozadenant (SYN115), a selective inhibitor of the adenosine 2a receptor, currently in development for the treatment of Parkinson`s disease. As a result, Biotie will receive a one-time fee payment of USD 20 million from UCB. In addition, the parties have amended their original license agreement, such that Biotie will now conduct phase 3 development of tozadenant in return for additional payments from UCB relating to defined development, regulatory and commercialization milestones.

"UCB is committed to improving the lives of people with Parkinson`s disease and currently provides Neupro a transdermal dopamine agonist for the symptomatic treatment of all stages of idiopathic Parkinson`s disease," said Professor Dr Iris Loew-Friedrich, Chief Medical Officer and Executive Vice President UCB. "Biotie is a valuable partner and the decision to in-license follows the positive top-line results of the phase 2b study. We were impressed by the performance of Biotie and decided that they are the ideal party to continue to spearhead the development of tozadenant. We look forward to collaborating with Biotie in the on-going clinical development. With the addition of the novel compound tozadenant to UCB`s development portfolio we should be able to further contribute to the advancement of the treatment and care for people living with Parkinson`s disease."

The phase 2b study was a double-blind, randomized, placebo-controlled study evaluating the safety and efficacy of tozadenant as adjunctive therapy in levodopa-treated Parkinson`s patients with end of dose wearing off. Results from the phase 2b study are expected to be presented at upcoming medical conferences and in scientific publications. Patient enrollment in the phase 3 program is currently planned to commence by the first half of 2015.

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Amendment to the release on UCB license of worldwide rights to tozadenant in Parkinson's disease from Biotie