Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 390

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 390
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            |     |             |     | Remaining amortisation 
 period                 |              |     |              |     |              |
|                                          |     |                 | 2023 £’000 |     | 2022 £’000 |     | 2021  £’000 |     |                        | 2023 (years) |     | 2022 (years) |     | 2021 (years) |
| MTX228 tolimidone acquired IPRD*         |     |                 |      2,938 |     | –          |     | –           |     |                        | n/a          |     | n/a          |     | n/a          |

| * | asset is not yet in use and has not started amortising |

On 21 December 2023 the Company executed an Assignment
and Exchange Agreement with Adhera for assignment of Adhera’s rights and a new licence for tolimidone (MTX228) with Melior for total
consideration of $11.12 million. The initial consideration was settled as follows:

| Schedule of purchase on intangible assets                                           |       |       |
|                                                                                     | $’000 | £’000 |
| Cash paid to Adhera                                                                 |   300 |   237 |
| 100,356 ADSs, valued at the Offer price issued to Adhera Loan Noteholders           |   201 |   159 |
| 899,642 Pre-funded warrants at the Offering price issued to Adhera Loan Noteholders | 1,799 | 1,422 |
| 708,856 ADSs at the Offer price issued to Melior                                    | 1,418 | 1,120 |
| Recognised as intangible asset purchase                                             | 3,718 | 2,938 |

In addition, conditional upon Adhera Loan
Noteholders subscribing for not less than $4 million in the Registered Offering the company paid a further $0.4 million in cash and
as an adjustment to equity of $3.0 million satisfied by the issue of 124,591 ADSs and 1,375,408 pre-funded warrants and not as
consideration for the acquisition of the intangible asset. These have been accounted for within the December 2023 Registered
Offering.

The Assignment and Exchange Agreement also provides
for deferred consideration totalling $4.0 million payable upon in part upon the completion of a positive Phase II clinical study of tolimid