Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 346

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 346
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3 £’000 |
|:-----------------------------------------|:----|:----------------|---------------------:|:----|---------------:|:----|:-----------------------|:----|:---------------|
| MTX228 tolimidone acquired IPRD*         |     |                 |                2,938 |     |          2,938 |     | n/a                    |     | n/a            |
| MTX230 eRapa acquired IPRD*              |     |                 |                3,068 |     |              – |     | n/a                    |     | n/a            |

*asset is not yet in
use and has not started amortising

On April 25, 2024 the
Company entered into a License and Collaboration Agreement (LCA) with Rapamycin Holdings, Inc. (d/b/a Emtora Biosciences), relating to
the license of eRapa. In consideration for the License, the Company made an upfront payment of 378,163ADSs (equal to five percent of
our then outstanding Ordinary Shares, calculated on a fully-diluted basis). In addition, a promissory note previously issued by Emtora
in favor of the Company in the amount of $0.25 million was forgiven and certain historical liabilities relating to their on-going FAP
and NMIBC programs were settled. The Company is also obligated to make quarterly payments to Emtora of $0.25 million less 75% of any research
sales by Emtora until the handover trigger event occurs. The obligation meets the definition of a financial liability in accordance with
IAS32 and is measured at fair value in accordance with IFRS9. Management have estimated the expected liability to be $3.1 million and
the present value as $2.5 million.

| F-10 |

| Schedule of purchase on intangible assets           |     |       |     |       |
|                                                     |     | $’000 |     | £’000 |
| 378,163 ADSs issued at market value                 |     |   274 |     |   219 |
| Promissory note forgiven                            |     |   250 |     |   197 |
| Historical liabilities settled                      |     |   820 |     |   655 |
| Quarterly payment obligation                        |     | 2,494 |     | 1,997 |
| Recognised as intangible asset purchase (unaudited) |