Company: BDRX
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001214659-25-016821
Chunk: 47

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-11-17
Form: F-1
Chunk 47
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Commercial Agreements, Strategic Partnerships and Collaborations

We are currently collaborating
with biopharmaceutical companies, contract research organizations and universities on several of our development programs.

Emtora License 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 1,512 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) at the time). 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 the License Agreement, a promissory note previously issued by
Emtora in favor of the Company in the amount of $250,000 was forgiven. We also made an additional $500,000 cash payment to Emtora to be
used exclusively for a match to an advance