Peter Fellner Nominated to be Elected to BioTie Therapies Corp.'s Board of Directors

Peter Fellner Nominated to be Elected to BioTie Therapies Corp.'s Board of Directors
9/28/2009

The Board of Directors proposes for the Extraordinary General Meeting on October 29, 2009 on the basis of the recommendation of the Board's Nomination and Remuneration Committee that the number of members of the Board of Directors would be eight (8) and that Dr. Peter Fellner would be elected as a new member of the Board of Directors for the term expiring at the end of the following Annual General Meeting.

Dr. Fellner, 65, currently serves as Chairman of Consort Medical Plc, Chairman of Vernalis Plc and Chairman of Astex Therapeutics Ltd. Previously he served as CEO of Celltech Group plc from 1990 to 2003, and then as its Chairman until 2004. Prior to this he was CEO of Roche UK from 1986 to 1990. He has also served as a director of several other public companies.

Dr. Fellner has given his consent to Board service. He is independent of the company and independent of significant shareholders of the company.

This proposal is included in the invitation to the Extraordinary General Meeting, dated 28 September, 2009.

Biotie Therapies Corp.

Biotie is a drug discovery and development company focused on central nervous system and inflammatory diseases. It has a broad range of innovative small molecule and biological drug candidates at different stages of clinical and pre-clinical development. Biotie's products address diseases with high unmet medical need and significant market potential, including addiction and psychotic disorders, rheumatoid arthritis, psoriasis and chronic obstructive pulmonary disease (COPD). The most advanced product, nalmefene for alcohol dependence, is currently in phase III clinical development by licensing partner H. Lundbeck A/S.

The commercial value of the pipeline has been demonstrated through existing alliances with top-tier global pharmaceutical companies such as Lundbeck, Roche and Wyeth. Biotie has operations in Turku, Finland and Radebeul, Germany.

Suggested Articles

Pliant Therapeutics will use the proceeds to push its lead program through midstage trials in fibrotic liver and lung diseases.

Cancer biotech Novellus has struck a deal with Plexxikon for its early- to midstage BRAF-inhibiting hopeful PLX8394.

Chinook Therapeutics is set to merge with fallen Big Pharma darling Aduro Biotech to create a kidney disease player with $180 million in cash.