Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 147

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 147
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In
our opinion, the environment for financing of small and micro-cap biotech companies remains challenging. While this may present acquisition
and/or merger opportunities with other companies with limited or no access to financing, as noted above, any attendant financings by us
are likely to be dilutive. We continue to evaluate financing options, including those connected to acquisitions and/or mergers, potentially
available to the Company. Any alternatives considered are contingent upon the agreement of counterparties and accordingly, there can be
no assurance that any alternative courses of action to finance the Company would be successful.

This
requirement for additional financing represents a material uncertainty that raises substantial doubt about our ability to continue as
a going concern. As a result, our independent registered public accounting firm included an explanatory paragraph in its report on our
financial statements as of and for the year ended December 31, 2023 with respect to this uncertainty. Should it become evident in the
future that there are no realistic financing options available to us which are actionable before our cash resources run out then we will
no longer be a going concern. In such circumstances, we would no longer be able to prepare financial statements under paragraph 25 of
IAS 1. Instead, the financial statements would be prepared on a liquidation basis and assets would stated at net realizable value and
all liabilities would be accelerated to current liabilities.

Our
ability to continue as a going concern is dependent upon our ability to obtain additional capital and/or dispose of assets, for which
there can be no assurance we will be able to do on a timely basis, on favorable terms or at all.

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<div align='center'>BUSINESS</div>

Business Overview

We are an acquisition-focused clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical needs, including familial adenomatous polyposis, or FAP, non-muscle invasive bladder cancer, or NMIBC, type 1 diabetes, or T1D, and rare/orphan cancers of the brain.

In April 2024 we licensed eRapa, a proprietary formulation of rapamycin, from Rapamycin Holdings, Inc. d/b/a Emtora Biosciences, Inc., or Emtora. Rapamycin is an mTOR inhibitor. As a central regulator of cell metabolism, growth, proliferation and survival, the mTOR pathway is activated during various cellular processes including tumor formation and angiogenesis. Through the use of nanotechnology and