April 2023 Biodexa Pharmaceuticals PLC ("Biodexa" or the "Company") Exercise of Pre-Funded Warrants and Issue of Equity Total Voting Rights Biodexa Pharmaceuticals PLC (AIM: BDRX; Nasdaq: BDRX), a drug delivery technolog

Biodexa Pharmaceuticals PLC

("Biodexa" or the "Company")

Exercise of Pre-Funded

Warrants and Issue of Equity

Biodexa Pharmaceuticals PLC (AIM: BDRX;

Nasdaq: BDRX), a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines, announces that

it has today issued to an investor 6,275,465 new ordinary shares of 0.02 each in the Company ("New Ordinary Shares"),

pursuant to exercise notices in respect of 1,255,093 Pre-Funded Warrants received yesterday. These Pre-Funded Warrants were exercised

at US$0.0004 per Pre-Funded Warrant for gross proceeds of US$502.04. Further details are set out in the Company's circular dated

Admission and total voting rights

Application has been made to the London

Stock Exchange plc for the admission to trading on AIM of the New Ordinary Shares, which is expected to become effective and dealings

commence at 8.00 a.m. on or around 25 April 2023 ("Admission"). The New Ordinary Shares will

rank pari passu with the existing ordinary shares.

The Company's enlarged issued share capital on

Admission will comprise 94,629,412 ordinary shares, each with voting rights. The Company does not hold any shares in treasury. From Admission,

expected to take place on 25 April 2023, this figure of 94,629,412 ordinary shares may be used by shareholders in the Company as the denominator

for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in,

the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined, capitalised

terms used in this announcement have the same meanings as ascribed to them in the Company's circular dated 7 March 2023.

announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as it forms part of UK domestic law

by virtue of the European Union (Withdrawal) Act 2018, as amended.

For more information,

About Biodexa Pharmaceuticals

Biodexa Pharmaceuticals PLC (dual listed on AIM:

BDRX; and NASDAQ: BDRX) is a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines. The

Company combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling

products that have the potential to powerfully impact the lives of patients.

The Company has developed three in-house technology

platforms, each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies

have successfully entered human use in the clinic, providing important validation of the potential for each platform:

The platform nature of the technologies offers

the potential to develop multiple drug assets rather than being reliant on a limited number of programmes. Biodexa's technologies

are supported by 36 patent families including 120 granted patents and an additional 70 patent applications. Biodexa's headquarters

and R&D facility is in Cardiff, UK.

Forward-Looking Statements

Certain statements in

this announcement may constitute "forward-looking statements" within the meaning of legislation in the United Kingdom and/or

United States. Any forward-looking statements are based on currently available competitive, financial and economic data together with

management's views and assumptions regarding future events and business performance as of the time the statements are made and are

subject to risks and uncertainties. The Company wishes to caution you that there are some known and unknown factors that could cause actual

results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.

Reference should be made

to those documents that the Company shall file from time to time or announcements that may be made by the Company in accordance with the

London Stock Exchange's AIM Rules for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs")

and the rules and regulations promulgated by the US Securities and Exchange Commission, which contains and identifies other important

factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These

forward-looking statements speak only as of the date of this announcement. All subsequent written and oral forward-looking statements

by or concerning the Company are expressly qualified in their entirety by the cautionary statements above. Except as may be required under

the AIM Rules or the DTRs or by relevant law in the United Kingdom or the United States, the Company does not undertake any obligation

to publicly update or revise any forward-looking statements because of new information, future events or otherwise arising.