Biotie has started a clinical trial with its fully human VAP-1 monoclonal antibody (BTT-1023) in psoriasis patients. The study will be conducted within the European Union and will evaluate the safety, tolerability, and pharmacokinetics of repeated doses of intravenously administered antibody in up to 36 patients with psoriasis. Results are expected in the first half of 2010.

The initiated study, together with the previously commenced study in rheumatoid arthritis patients, is expected to establish a basis for designing full-scale therapeutic studies and to provide initial information on the therapeutic potential of the antibody in these inflammatory conditions.

In November 2006, Biotie and Roche had signed an option agreement for the antibody programme targeting VAP-1. Under the terms of the agreement, Roche had paid an option initiation fee of EUR 5 million, which granted Roche an exclusive option right to an exclusive, worldwide license agreement for Biotie's fully human antibody targeting VAP-1, excluding Japan, Taiwan, Singapore, New Zealand, and Australia. The initial option right will end upon completion of phase-I, and it is expected that this point will be reached when one of the now ongoing studies is completed. Biotie will retain all rights to the programme until a license is granted to Roche.