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Biotie announces Roche has decided to not exercise its rights to SYN120, a novel 5-HT6 antagonist for cognitive disorders


June 26, 2012 - London

Biotie Therapies Corp.  Stock Exchange Release  26 June 2012 at 09:00 a.m.

Biotie announces Roche has decided to not exercise its rights to SYN120, a novel 5-HT6 antagonist for cognitive disorders

Biotie announced today that it is retaining global development and commercialization rights to SYN120, following Roche's decision not to exercise its opt-in right due to strategic portfolio reasons. SYN120 is Biotie's novel selective 5-HT6 receptor antagonist that has recently successfully completed a Phase 1 program including a study using positron emission tomography (PET) imaging to determine appropriate dosing for Phase 2 development.

Timo Veromaa, Chief Executive Officer of Biotie, commented: "5-HT6 is a very promising, clinically-validated target in cognitive disorders and SYN120 represents a truly exciting and differentiated product for the treatment of Alzheimer's disease, schizophrenia and other conditions. A number of reputable companies have already expressed an interest in the compound and we are confident that we will find a high quality partner".

SYN120 has an extensive package of clinical and preclinical data and is ready to enter Phase 2. In March 2012, Biotie reported top-line data from a Phase 1 clinical study using PET imaging to determine the occupancy of the 5HT6 receptor in the brain following administration of SYN120. The study showed that target levels of receptor occupancy expected for efficacy can be achieved with SYN120 doses that are an order of magnitude lower than those that have previously been shown to be safe and well tolerated for up to two weeks in healthy older volunteers. As such SYN120 is expected to demonstrate efficacy with a very wide safety margin.

Turku, 26 June 2012

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
NASDAQ OMX Helsinki Ltd
Main Media
www.biotie.com  

About SYN120

SYN120 is a potent and selective oral 5-HT6 receptor antagonist, exclusively targeting regions in the brain associated with memory function. SYN120 has been shown to enhance cognition in various preclinical models, and has completed single and multiple-ascending dose studies in Phase 1 and a PET imaging study to determine appropriate dosing for Phase 2 development. The compound was discovered at Roche and is being developed by Biotie under a licensing agreement.

About Biotie

Biotie is a specialized drug development company focused on the development of drugs for neurodegenerative and psychiatric disorders (e.g. Parkinson's disease, Alzheimer's disease and other cognitive disorders, alcohol and drug dependence (addiction) and post traumatic stress disorder), and inflammatory and fibrotic liver disease.The company has a strong and balanced development portfolio with several innovative small molecule and biological drug candidates at different stages of clinical development. Biotie's products address diseases with high unmet medical need and significant market potential. Biotie has a strategic collaboration with UCB Pharma S.A. covering tozadenant for Parkinson's disease. The Marketing Authorization Application for Biotie's most advanced product, SelincroTM (nalmefene) for alcohol dependence was filed in the EU by our partner H. Lundbeck A/S and was accepted for review by the European Medicines Agency in December 2011.Biotie shares are listed on NASDAQ OMX Helsinki Ltd.




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Source: Biotie Therapies Oyj via Thomson Reuters ONE

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