Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 165

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 165
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 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 from the Cancer Prevention and Research Institute of Texas.

Upon
any change of control of the Company (as defined in the Emtora License Agreement), we shall issue Emtora a warrant exercisable for 1,604,328
Depositary Shares, which may only be exercised upon such change of control.

The
Emtora License Agreement also provides us with the exclusive option to acquire all of the capital stock of Emtora at a purchase price
on commercially reasonable terms during the period beginning with the filing of an NDA for the Product with the FDA, and ending 90 days
after acceptance of the filing of the NDA by the FDA.

Melior License.On
November 22, 2023, we entered into the license agreement, or the Melior License Agreement, with Melior Pharmaceuticals I, Inc., or Melior,
for the development and commercialization of tolimidone in most territories other than China, South Korea and a number of smaller Asian territories which Melior licensed to Bukwang Pharmaceutical Co. Ltd., or Bukwang.
Under the Melior License Agreement, we obtained from Melior an exclusive, worldwide, sublicensable right to develop, manufacture, commercialize,
or otherwise exploit products containing tolimidone for any field.

Pursuant to the terms of the
License Agreement, we issued to Melior 354,428 Depositary Shares in upfront consideration, and agreed to issue the same to Bukwang. In
addition, we are obligated to pay single digit tiered royalties on net sales of tolimidone to Melior, with Melior agreeing to pay to Bukwang
50% of such royalties pursuant to a royalty agreement.

Under the Melior License Agreement,
we, at our own cost, have the right to control the prosecution, maintenance and enforcement of the tolimidone patents, while Melior has
certain step-in rights if we elect not to prosecute and maintain such tolimidone patents. The Melior License Agreement may be terminated
by Melior if we fail to meet various development diligence obligations.

In connection with the License
Agreement, on November 22, 2023, Melior and Bukwang entered into an amendment to the license agreement with Bukwang, or the Bukwang License