Biotie Therapies Corp. (NASDAQ: BITI) was established in 1998 and is headquartered in Turku, Finland, with 40 full-time employees (3/31/2015). It is a biopharmaceutical company focused on the development of drugs for the treatment of central nervous system diseases .
Biotie Therapies (BITI):
Biotie Therapies’ drug candidate product line includes orphan drugs designed to treat Parkinson’s disease and related dementia drugs, as well as other neurodegenerative indications, primary sclerosing cholangitis, liver fibrosis and other rare diseases. .
The company has developed and commercialized a drug for alcohol withdrawal-to relieve alcohol dependence, Lundbeck continues to pay royalties to the company.
In addition, the company’s leading product, tozadenant, is undergoing phase III clinical trials, which is a kind of levodopa used in the treatment of Parkinson’s disease (levodopa, the most widely prescribed treatment for Parkinson’s disease, followed by As time goes by, the efficacy of most patients declines during the treatment process.) The company has information that it will pass the trial and be approved by the FDA for the product of adjuvant treatment.
On January 19, 2016, Acorda announced the acquisition of Biotie Therapies for US$363 million. The latter’s stock will be delisted and trading will cease on June 10, 2016.
The company’s other two product candidates:
SYN120-For Parkinson’s disease and Alzheimer’s disease senile dementia
BTT1023-Orphan drug formulation for the treatment of primary sclerosing cholangitis and liver fibrosis
Biotie Therapies (BITI) investment:
Biotie Therapies was established in Finland in 1998 and acquired Synosia Therapeutics Holding AG under Roche in 2011. After a series of acquisitions and capital operations, the current biotie company was formed.
Biotie Therapies submitted an IPO prospectus to the SEC on 5/14/2015 . It plans to raise US$60 million and trade on the Nasdaq under the stock code: BITI.
BITI official website: biotie.com/
BITI American Stock Encyclopedia: thisyear.com