BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 21 November 2013, at 4.00 p.m. Biotie's loan obligations to Tekes reduced by EUR 2.8 million The Finnish Funding Agency for Technology and Innovation (Tekes) has, based on an application from Biotie, informed the Company that it has decided to forgive certain capital loans relating to Biotie's carbohydrate and cancer glycosylation projects that were discontinued in 2005 and an R&D loan relating to Biotie's Integrin project that was discontinued in 2010. Biotie's justification for the application was that the Tekes funded R&D projects did not lead to commercially profitable business. The loan forgiveness will reduce the group's non-current financial liabilities on the consolidated statement of financial position by EUR 2.8 million and increase financial income on the consolidated statement of comprehensive income by EUR 2.8 million in the full year financial statements for 2013. In addition, all accrued interest relating to these loans is also forgiven. This will reduce other non-current liabilities on the consolidated statement of financial positions by EUR 0.4 million and increase financial income on the consolidated statement of comprehensive income by EUR 0.4 million in the full year financial statements for 2013. As at 31 December 2012 the Company's loan obligations to Tekes were EUR 17.4 million as capital loans and EUR 4.4 million as R&D loans. In Turku, 21 November 2013 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 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. [HUG#1744931]
Biotie's loan obligations to Tekes reduced by EUR 2.8
Top 10 Most Recent News Articles
Navigating AI Laws: A New Era for Privacy & Security
Crucial Insights from the Convergence Conference Rich with intrigue, the privacy and AI governance game just upped its stakes. If there ever was a time to listen closely, it's now, people. With over 150 laws sprouting up faster than weeds, businesses are getting squeezed to keep their artificial ducks in a row. Last month over in New York, some big names in law and...
Continue Reading
eGlint's Rapid Tech Revolutionizes Proteomics with Win
A Game-Changer in Proteomics Now ain't this something—eGlint just scooped up the 2026 BioTools Innovator Grand Prize, waving a big ol' $250,000 check around and claiming the biotech spotlight with their swift-moving ProteoNex™ platform. Forget about sticking samples through sluggish labs and waiting an eternity; eGlint's tech is flipping the switch, serving up protein...
Continue Reading
AI-Designed Antivirals: A Brave New World
Pushing the Boundaries with AI in Drug Discovery It seems some smart folks over in South Korea are giving the pharma game a fresh twist, pitting artificial intelligence against viral invaders in a newfangled brawl. Professors from Korea University have managed to blend AI's computing prowess with good ol' lab doggedness to sniff out potential antiviral compounds. The...
Continue Reading
Ama La Vida's New Coaching: More Than a Financial Plan
Breaking the Retirement Myth Retirement ain't just about sailing off into the sunset with a fat wallet. What happens when the honeymoon period of the "golden years" ends and you're left pacing the floorboards, unsure of what comes next? Enter Ama La Vida's fresh approach to retirement coaching, tackling the side of retirement that's rarely spoken about: identity,...
Continue Reading
Faith and Resilience in China: The Legacy of the Long March
History's got chapters that stick with you, and the Long March is one of those stories that shake you to your core. It all started one October evening in 1934, when more than 86,000 soldiers from the Red Army found themselves on the banks of the Yudu River. It was a scene straight out of a novel: 800-odd boats held together with coffin boards and timber beams, all set to...
Continue Reading
GELITA Showcases Collagen Innovations at SupplySide 2026
Collagen Solutions Front and Center First up, a little chat about collagen might be in order. For folks not tied into the science side, it sounds like a trendy wellness potion. But here comes GELITA at SupplySide Global 2026, showing it's the real McCoy. Nestled in Booth #4565, they're laying out a spread of next-gen collagen innovations aimed at everything from wound...
Continue Reading
Florida Cancer Center Expands Expertise with New Oncologist
Welcoming a Highly Skilled Oncologist to Fort Myers There's an old saying in the world of investing: follow the expertise. And when it comes to healthcare, especially cancer treatment, expertise can make a world of difference. Florida Cancer Specialists & Research Institute (FCS) is throwing its hat in the ring with authority, as they welcome Dr. Kelly Elleson, a surgical...
Continue Reading
Solvang Teamsters Triumph in Labor Standoff
Solvang Strikers Prevail with New Deal Staring down the barrel of a five-week standoff, the hard-nosed workers of Solvang just proved exactly what grit can get you. The City of Solvang and the steadfast members of Teamsters Local 986 wrapped up their punchy back-and-forth by clinching a contract that ups the ante on wages and job respect. For a bunch who stuck it out on...
Continue Reading
Nomada Fund Launches: A Game-Changer in New Media
Changing the Investment Game In a world where tech isn't the only kingmaker, distribution is the new play. Welcome the Nomada Fund, a fresh face on the investment scene that's swapping cash for exposure. Forget the traditional media-for-equity model that only old-timers still drool over—these guys are taking it up a notch with their new Distribution for Equity approach,...
Continue Reading
AAI Rolls Out Agency Gauge: AI-Driven Insights Platform
Bringing Artificial Intelligence to the Insurance Table Affordable American Insurance (AAI) is shaking things up in the insurance world with their new tool, Agency Gauge. Picture this: you're running an independent agency, neck-deep in data, and this AI-powered marvel swoops in and turns those confusing numbers into actionable business insights. It's like having a wise...
Continue ReadingTop 5 Most Recently Viewed Articles
AAR Continues Strong Partnership With Collins Aerospace Products
AAR Strengthens Ties with Collins Aerospace AAR CORP. (NYSE: AIR) has recently announced an extension of its exclusive global distribution agreement with Collins Aerospace, a division of RTX. This multi-year partnership focuses on the Goodrich de-icing and specialty systems product line. The agreement emphasizes AAR's commitment to supporting the needs of commercial and...
Continue Reading
Kontoor Brands Shares Exciting Third Quarter Earnings Update
Kontoor Brands Announces Third Quarter Earnings Plans Kontoor Brands, Inc. (NYSE: KTB), a prominent player in the global lifestyle apparel sector, is gearing up for an important financial disclosure. The company, known for its highly-regarded Wrangler and Lee brands, has declared its intention to unveil third quarter earnings on a specified date. This announcement is set...
Continue Reading
Wendy's Stock Faces Market Challenges Yet Eyes Recovery
Wendy's Stock Faces Market Challenges Yet Eyes Recovery The Wendy's Co (NASDAQ: WEN) has recently faced significant challenges in the stock market, hitting a 52-week low of $14.72. Known for its distinctive square burgers and delicious frosty desserts, Wendy's stock has struggled, reflecting broader market difficulties that are influencing investor sentiments. With a...
Continue Reading
Evoke Pharma Set to Announce Key Financial Results Soon
Evoke Pharma Anticipates Financial Announcement Evoke Pharma, Inc. (NASDAQ: EVOK) is ushering in an important moment as it prepares to report its financial results for the fourth quarter and the entire year of 2024. This update is slated for release on a Thursday afternoon, following the closing of the markets. Such earnings reports are crucial for stakeholders keen on...
Continue Reading
JD.com Reports Impressive Q3 2024 Financial Performance
A Closer Look at JD.com’s Q3 2024 Results JD.com, Inc. (NASDAQ: JD), a prominent technology and service provider in supply chain management, has recently revealed its financial outcomes for the third quarter of 2024. The company's results reflect its strategic advancements and robust operational performance amid the evolving e-commerce landscape. Financial Highlights In...
Continue Reading