Final Results of the Subsequent Offer Period of Acorda Therapeutics’ Tender Offer for All of the Shares, American Depositary Shares, Stock Options, Share Units and Warrants in Biotie Therapies Corp.

ARDSLEY, N.Y.–(BUSINESS WIRE)– The subsequent offer period under the voluntary public tender offer by
Acorda Therapeutics, Inc. (Nasdaq:ACOR) (« Acorda » or the « Offeror« )
to purchase all of the issued and outstanding shares (« Shares« ),
American Depositary Shares (« ADSs« ), stock options, share
units and warrants (such securities, collectively, the « Equity
Interests« ) in Biotie Therapies Corp (Nasdaq Helsinki: BTH1V;
Nasdaq:BITI) (« Biotie » or the « Company« )
that are not owned by Biotie or any of its subsidiaries (the « Tender
Offer« ) commenced on 14 April 2016 and expired on 28 April 2016 (the
« Subsequent Offer Period« ).

According to the final results of the Subsequent Offer Period,
38,419,864 Shares and 58,121 ADSs were tendered during the Subsequent
Offer Period, representing, together with the other Equity Interests
tendered in the Tender Offer during the initial offer period,
approximately 97.36 percent of all the shares and votes in Biotie on a
fully-diluted basis as defined in the terms and conditions of the Tender
Offer.

The Shares and ADSs tendered during the Subsequent Offer Period
represent approximately 4.39 percent of all the shares and votes in
Biotie (excluding treasury shares held by Biotie). Together with the
Shares and ADSs tendered during the initial offer period, these Shares
and ADSs represent approximately 96.77 percent of all the shares and
votes in Biotie (excluding treasury shares held by Biotie). By
exercising the other Equity Interests tendered during the initial offer
period for the subscription of Biotie shares, the Offeror could increase
its holding to approximately 97.42 percent of all the shares and votes
in Biotie (excluding treasury shares held by Biotie).

The Offeror has accepted all the Shares and ADSs validly tendered during
the Subsequent Offer Period. The offer consideration has been paid to
those holders of Shares and ADSs who validly accepted the Tender Offer
by the first acceptance date of 21 April 2016 under the Subsequent Offer
Period, and will be paid on or about 4 May 2016 to those holders of
Shares and ADSs who validly accepted the Tender Offer by the second
acceptance date of 28 April 2016 under the Subsequent Offer Period.

The Offeror’s intention is to acquire all the remaining Shares and ADSs
in Biotie. As the Offeror’s ownership in Biotie has exceeded nine-tenths
(9/10) of the Shares and voting rights in Biotie through the Tender
Offer, the Offeror has filed an application with the Redemption
Committee of the Finland Chamber of Commerce to initiate compulsory
redemption proceedings for the remaining Biotie Shares under the Finnish
Companies Act. The Offeror may purchase Shares and ADSs in Biotie also
in public trading on Nasdaq Helsinki Ltd. and Nasdaq Stock Market LLC or
otherwise at a price not exceeding the offer price of EUR 0.2946 per
Share and EUR 23.5680 per ADS offered in the Tender Offer.

The Offeror intends to cause the Shares of Biotie to be delisted from
Nasdaq Helsinki Ltd. and the ADSs to be delisted from Nasdaq Stock
Market LLC and deregistered under the United States Securities Exchange
Act of 1934 as soon as permitted and practicable under applicable laws.

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 Parkinson’s disease,
epilepsy, post-stroke walking deficits, migraine, and multiple
sclerosis. Acorda markets three FDA-approved therapies, including
AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg.

For more information, please visit www.acorda.com.

About Biotie Therapies

Biotie is a biopharmaceutical 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 more information, please visit www.biotie.com.

Forward-Looking Statement

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; the
ability to realize the benefits anticipated from the Biotie and Civitas
transactions, among other reasons because acquired development programs
are generally subject to all the risks inherent in the drug development
process and our knowledge of the risks specifically relevant to acquired
programs generally improves over time; 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 (diazepam) Nasal Spray, 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, any other products under development, or the products
that we will acquire when we complete the Biotie transaction; the
occurrence of adverse safety events with our products; delays in
obtaining or failure to obtain and maintain regulatory approval of or to
successfully market Fampyra outside of the U.S. and our dependence on
our collaborator 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.

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 after
the date of this release.

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