Biotie planning restructuring, spinout

Biotie Therapies Corp. (HSE:BTH1V) will restructure and reduce headcount by 59 (73%) to about 22 as part of its plans to discontinue its early stage discovery efforts to focus on the clinical development of ronomilast and BTT-1023. Ronomilast is an oral phosphodiesterase-4 (PDE-4) inhibitor that is in Phase I testing to treat chronic obstructive pulmonary disorder (COPD); and BTT-1023 is a mAb against vascular adhesion protein-1 ( VAP-1; SSAO) that has completed a Phase I trial for rheumatoid arthritis (RA). ...