Company: BDRX
Filing Date: 2025-12-11
Form Type: F-1/A
Source: 0001214659-25-017944
Chunk: 41

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-12-11
Form: F-1/A
Chunk 41
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 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 from CPRIT.

| 28 |

Upon any change of control
of the Company (as defined in the Emtora License Agreement), we shall issue Emtora a warrant exercisable for 6,417 Depositary Shares,
which may only be exercised upon such change of control.

The 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 a new drug application, or 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