Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 388

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 388
---
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 tolimidone
in Type-1 diabetes and in part upon the first commercial sale of tolimidone. In addition, the Company is obligated to pay single digit
tiered royalties on net sales of tolimidone to Melior.

The ADSs issued under
the transaction are subject to restrictions on their resale.

The Group reviews the
carrying amounts of its intangible assets to determine whether there are any indications that those assets have suffered an impairment
loss. If any such indications exist, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss. Impairment indications include events causing significant changes in any of the underlying assumptions used in the income approach
utilised in valuing in process R&D. The key assumptions are : estimation of future cash flows which is dependent on the probability
of success, the discount factor, the timing of future revenue flows, market penetration and peak sales assumptions, and expenditure required
to complete development, estimation of the long-term rate of growth for the business, estimation of the useful life over which cash flows
will occur and determination of our weighted-average cost of capital.

| F-51 |

| 12 | Subsidiaries |

The subsidiaries of
the Company, all of which are 100% owned as at 31 December 2023, either directly or through subsidiaries where indicated, and have been
included in these financial statements in accordance with the details set out in the basis of preparation and basis of consolidation note
1, are as follows:

| Schedule of subsidiaries                                                           |     |                                                            |     |                    |