Biotie (Finland) enters into a licencing agreement with Somaxon (US)

Biotie (Finland) enters into a licencing agreement with Somaxon (US)

Biotie Therapies Corp. and Somaxon Pharmaceuticals, Inc. announced today that Somaxon has exercised its option to license nalmefene in North America. The companies signed a cooperation and option agreement on nalmefene in July 2004.

Under the terms of the agreement, BioTie has granted Somaxon an exclusive license in North America to clinically develop, manufacture and market nalmefene for the treatment of impulse control disorders, alcoholism and alcohol abuse and nicotine dependence. Somaxon intends to initially develop nalmefene for the treatment of pathological gambling in the United States and plans to initiate pivotal phase III clinical trials in 2005. Currently, there is no approved pharmacological treatment for pathological gambling in the United States.

BioTie Therapies is a Finnish biotech company with focus on dependence disorders, inflammatory diseases and thrombosis. BioTie’s shares are listed on the Helsinki Exchanges (HEX). BioTie has been developing nalmefene for the treatment of alcoholism and pathological gambling since 1999.

Nalmefene and alcoholism
Alcoholism represents a significant unmet medical need with no approved “stand alone” drug therapy available. The present drug therapies are combined with psychosocial intervention. Nalmefene is the first drug therapy to show efficacy in controlled studies without a psychosocial intervention. Wheras all presently marketed pharmacotherapies for the treatment of alcoholism aim at complete abstinence, nalmefene is developed for the reduction of heavy drinking.

For more information, please visit www.biotie.com<_http3a_ www.biotie.com=””>.

Biotie Therapies Corp.
Jari Saarinen
President and CEO
For further information, please contact:
Biotie Therapies Corp.
President and CEO Jari Saarinen, Biotie Therapies Corp.
tel. +358-40-500 4206, e-mail: jari.saarinen@biotie.com

News source: Eeva Järvinen, ScanBalt webeditor in Finland<_mailto3a_jari.saarinen40_biotie.com>
<_http3a_ www.biotie.com=””>
<_http3a_ www.somaxon.com=””>

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