Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 164

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 164
---
 anticipate it would have any impact on launching MTX110 for use in
patients with GBM. If we are unable to launch a product candidate until the patent expires, there could be a material adverse effect on
our business, financial condition and results of operations.

For
additional information regarding MTX110, see “—Recent Developments—MTX110 Developments.”

Commercial Agreements, Strategic Partnerships and Collaborations

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

eRapa License.On April 25, 2024, we entered into the Emtora License Agreement with Emtora, relating to the license of eRapa, an oral product formulation of rapamycin (sirolimus), for use in the prevention, treatment, diagnosis, detection, monitoring and/or predisposition testing of all diseases, states or conditions in humans, that includes the nanoparticle and enteric coated finished pharmaceutical formulations developed at any time by Emtora and its affiliates. 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 Emtora 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 the License Agreement, a promissory
note