Race to the Finnish line: Parkinson's biotech Biotie Therapies files for a $60 million US IPO

Biotie Therapies, a Finnish biotech developing an adjunct therapy to levodopa for Parkinson's disease, filed on Thursday with the SEC to raise up to $60 million in a US initial public offering.

The Turku, Finland-based company, which was founded in 1998, plans to list on the NASDAQ under the symbol BITI. Biotie Therapies initially filed confidentially on March 17, 2015. RBC Capital Markets and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.