Biotie Therapies (BITI) began trading on the NASDAQ on 11 June 2015

• Biotie has a commercial stage therapy for alcohol dependence, but its lead drug is a Parkinson's Disease treatment.
• Biotie plans to raise $56 million by offering 4 million American Depositary Shares at a price of 14.82, under the ticker BITI. The lead underwriters are RBC Capital Markets and Stifel.

Biotie Therapies Corp (BITI) is a commercial stage biotech with a very diverse pipeline of clinical stage drugs. The company is currently publicly traded in Finland. The ADS shares will exchange at an 80:1 ratio to the Finnish shares. The resulting fully diluted market cap after the ADS IPO will be about $180 million assuming current Dollar to Euro exchange rates and an ADS price just below $15 per share. The company currently has one commercial drug in Europe as well as several others in the pipeline, and is targeting commercialization in the U.S.

Pipeline

Biotie currently has one commercial stage product, which it has licensed to Lundbeck for exclusive selling rights. The drug, Selincro, is a treatment for chemical alcohol dependence, and is currently sold in 29 European countries and is targeting U.S. approval and commercialization. However, the drug is a very small source of revenue and is not the major selling point for investors. Rather investors will be interested in the upside potential of the remaining pipeline of clinical trial drugs.