Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 19

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 19
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 certain designees of Ladenburg warrants for purchase of an aggregate
of 6,456 Depositary Shares at an exercise price of $62.50, or the Warrant Agent Warrants. The registration statement of which this forms
a part includes the Depositary Shares issuable upon exercise of these warrants.

We
received gross proceeds of approximately $6.05 million from the warrant exercise, prior to deducting the warrant inducement agent fees
and other expenses.

License and Collaboration Agreement

On
April 25, 2024, we entered into a license and collaboration agreement, or the Emtora License Agreement, with Emtora, relating to the license
of eRapa, an oral product formulation of rapamycin (sirolimus), or the Product, for use in the prevention, treatment, diagnosis, detection,
monitoring and/or predisposition testing of all diseases, states or conditions in humans, or the Field, that includes the nanoparticle
and enteric coated finished pharmaceutical formulations developed at any time by Emtora and its affiliates, or the License. Under the
License, we obtained from Emtora an exclusive, worldwide, sublicensable right to develop, manufacture, commercialize, or otherwise exploit
products containing rapamycin (sirolimus) in the Field. Pursuant to the terms of the License Agreement, the Company and Emtora established
a joint development committee, consisting of two designees of the Company and two designees of Emtora.

As
consideration for the License, we made an upfront payment to Emtora in the form of 378,163 of our Depositary Shares (equal to five percent
(5%) of our outstanding Ordinary Shares, calculated on a fully-diluted basis (including in-the-money warrants)). In addition, we are also
responsible for up to $31.5 million in sales milestones within the first six months of commercial sale of a first-approved indication
of eRapa in certain markets, with decreasing milestones for subsequent approvals for additional indications. There is also a one-time
$10.0 million milestone payable upon cumulative net sales of $1.0 billion. Further, we are also obligated to pay Emtora single digit tiered
royalties on net sales of eRapa, in addition to honoring Emtora’s legacy royalty obligations and paying Emtora fees related to income
derived from sublicensing and the partnering of eRapa. In addition, effective as of the closing of