Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 169

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 169
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 program
know-how and data to enable the Licensees to continue to develop using our platform technologies and then to commercialize in the Territory.
We will receive a low single digit royalty on the Net Sales (as such term is defined in the CMS License Agreement) in the Territory. The
Licensees will own any intellectual property rights it creates and any data they collect during the development process and will license
such rights and data to us for the purposes of manufacturing the products in question and also to commercialize the products outside the
Territory, for which we will pay the Licensees a low double digit royalty.

The Licensees shall pay us
lump sum payments on a Product-by-Product basis (in U.S. dollars) upon the achievement of certain regulatory approvals (in six, or potentially
seven, figure amounts) and sales performance milestones (in seven, or potentially, eight figure amounts), as well as royalties upon Net
Sales (as a low double digit percentage for the Products other than MTX110, for which the royalty will be a single digit percentage) in
the Territory.

The CMS License Agreement
may be terminated by either party for specific material breaches or insolvency. In particular, our rights to terminate are limited to
breaches of certain non-compete restrictions, failure to pay milestones or royalties, insolvency, or a failure to develop and/or commercialize
particular Products in particular countries after the grant of an FDA or EMA regulatory approval. In addition, we have the right to terminate
the agreement if the Licensee directly or indirectly infringes upon our intellectual property rights or challenges their validity or,
in relation to a particular Product and a particular Territory at any time, because the Licensee has made a determination that it no longer
wishes to develop and/or commercialize the Product in that country in the Territory. The CMS License Agreement also includes customary
indemnification for a transaction of this type.

Sales and Marketing

We do not currently have any
internal sales and marketing organization or distribution capabilities.

Research and Development

We have leased a laboratory
in Cardiff, Wales in which we are able to undertake basic formulation and analytical work.

Intellectual Property

Our success depends in large
part on our ability to obtain and maintain proprietary protection for our product candidates (and products derived therefrom), technology
and know-how, to operate without infringing the proprietary rights of others and to prevent others from infringing our proprietary rights.
We strive to protect the proprietary technology that we believe is important to