Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 343

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 343
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 are processed through the escrow account, including the Company’s deposits
of matching funds, as set out in the agreement, the receipt of grant funding from CPRIT and the payment of eligible R&D expenses.
Although the CPRIT grant and R&D supplier contracts are with Emtora, the joint arrangement nature of the LCA results in Emtora being
deemed to be acting as the Company’s agent. Accordingly, the Company recognises 100% of the grant and 100% of the R&D expenditure.
The CPRIT grant recognized is on a 1 for 2 match. In accordance with the Company’s accounting policy, the grant, as it is the re-imbursement
of directly related costs, is credited to R&D costs in the same period in The Statements of Comprehensive Income. The escrow account
is recognised within prepayments, CPRIT grant received in advance is recognised within deferred revenue and any grant not yet received
is recognised in accrued income.

In 1H24 the company
recognised R&D costs of £0.2 million on the FAP project, this was made up of expenditure of £0.5 million netted against
CPRIT grant of £0.3 million.

| F-7 |

The balances as
at June 30, 2024 were as follows in relation to the FAP project:

| Schedule of relation the FAP |              |
| Prepayments                  | £1.2 million |
| Deferred revenue             | £0.1 million |

| 3. | Finance income and expense |

| Schedule of finance income                            |     |               Six months 
               ended June 
 30, 2024 unaudited £’000 |     |               Six months 
               ended June 
 30, 2023 unaudited £’000 |
|:------------------------------------------------------|:----|-------------------------:|:----|-------------------------:|
| Finance income                                        |     |                          |     |                          |
| Interest received on bank deposits                    |     |                       86 |     |                       24 |
| Other interest                                        |     |                        2 |     |                        - |
| Gain on equity settled derivative financial liability |     |                      751 |     |                      386 |
| Total finance income                                  |     |                      839 |     |                      410 |

The gain on the
equity settled derivative financial liability in 1H24 and 1H23 arose as a result of the fall in the Biod