Biotie raises EUR 30M

Biotie Therapies Corp. (HSE:BTH1V) raised EUR 30 million ($37.7 million) through an investment from partner H. Lundbeck A/S (CSE:LUN) and a private placement to institutional and strategic investors. Lundbeck purchased 18.6 million shares at EUR 0.54 for a total of EUR 10 million ($12.6 million). In the private placement, investors purchased 46.5 million shares at EUR 0.43 for a total of EUR 20 million ($25.2 million). The private placement price is a penny discount to Biotie's close of EUR 0.44 on Thursday, before the offering was announced. Lundbeck's purchase price represents a 23% premium to Biotie's Thursday's close. Lundbeck now owns 4% of Biotie. ...