Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 17

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 17
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 replacement warrant for each Series F Warrant exercised, or the
Series H Warrants, and collectively with the Series G Warrant, the Replacement Warrants.

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The
Replacement Warrants were exercisable immediately and expire after five years, for the Series G Warrants, and one year, for the Series
H Warrants, from the date of issuance. The registration statement of which this prospectus forms a part includes the Ordinary Shares (represented
by Depositary Shares) issuable upon exercise of the Replacement Warrants, as well as the Ordinary Shares (represented by Depositary Shares)
received upon exercise of the Series E Warrants and Series F Warrants.

Ladenburg, acted
as warrant inducement agent and financial advisor in connection with the transaction and received a cash fee of 8.0% of the gross proceeds
and reimbursement of certain expenses. We also issued to Ladenburg and certain designees of Ladenburg warrants for purchase of an aggregate
of 6,456 Depositary Shares at an exercise price of $62.50, or the Warrant Agent Warrants. The registration statement of which this forms
a part includes the Depositary Shares issuable upon exercise of these warrants.

We
received gross proceeds of approximately $6.05 million from the warrant exercise, prior to deducting the warrant inducement agent fees
and other expenses.

License and Collaboration 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