Biodexa Pharmaceuticals PLC ("Biodexa" or the "Company") Biodexa Announces Pricing of $5.2 Million Underwritten Public Offering Biodexa Pharmaceuticals PLC, (Nasdaq: BDRX), a clinical stage biopharmaceutical company deve

Biodexa Pharmaceuticals PLC

("Biodexa" or the "Company")

Biodexa Announces Pricing

of $5.2 Million Underwritten Public Offering

Biodexa Pharmaceuticals PLC, (Nasdaq: BDRX), a

clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical

needs, today announced the pricing of an underwritten public offering of units.

Ladenburg Thalmann & Co. Inc. is acting as

sole book-running manager in connection with the offering.

The underwritten public offering is comprised

of (a) 697,614 Class A Units (the "Class A Units"), with each Class A Unit consisting of (i) one Depositary Share (representing

400 of the Company's ordinary shares, nominal value 0.001 per share, the "Ordinary Shares"), (ii) one Series

E warrant to purchase one Depositary Share at an exercise price of $2.20 per share, which will expire on the five-year anniversary

of the initial exercise date (each a "Series E Warrant"), and (iii) one Series F warrant to purchase one Depositary Share

at an exercise price of $2.20 per share, which will expire on the one-year anniversary of the initial exercise date (each a "Series F

Warrant," and together with the Series E Warrants, the "Warrants"), with each Class A Unit offered to the public at

an offering price of $2.00 per Class A Unit, and (b) 1,911,176 Class B Units (the "Class B Units", and collectively with the

Class A Units, the "Units"), with each Class B Unit consisting of (i) one pre-funded warrant (the "Pre-Funded Warrants"),

exercisable for one Depositary Share, (ii) one Series E Warrant, and (iii) one Series F Warrant, with each Class B Unit offered to

the public at an offering price of $1.9999 per Class B Unit.

Each Pre-Funded Warrant has an exercise price

per share equal to $0.0001. The Pre-Funded Warrants are exercisable at any time after the initial exercise date until exercised in

full and they do not expire. Each Series E Warrant and Series F Warrants has an exercise price per share equal to $2.20. The

Series E Warrants and Series F Warrants are immediately exercisable upon issuance and will expire on the fifth and first anniversary,

respectively, of their respective initial exercise date. The Pre-Funded Warrants and warrants issued in this offering are fixed priced

and do not contain any variable pricing, resets, alternative cashless exercise or price based anti-dilution features.

The securities comprising the Units are immediately

separable and will be issued separately. The closing of the offering is expected to take place on or about December 21, 2023, subject

to the satisfaction or waiver of customary closing conditions.

A total of 697,614 Depositary Shares, Pre-Funded

Warrants to purchase up to 1,911,176 Depositary Shares, and Warrants to purchase up to 5,217,580 Depositary Shares will be issued in the

underwritten public offering. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 391,273

Depositary Shares, Series E Warrants to purchase an additional 391,273 Depositary Shares and/or Series F Warrants to purchase an additional

391,273 Depositary Shares, to cover over-allotments, if any, at the public offering price per Depositary Shares and per Warrant, less

the underwriting discounts and commissions.

The securities issued as part of the underwritten

public offering were offered pursuant to a registration statement on Form F-1, as amended (File No. 333-274895), which was declared effective

by the United States Securities and Exchange Commission ("SEC") on December 18, 2023.

This press release does not constitute an offer

to sell or the solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer,

solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The underwritten

public offering is being made solely by means of a prospectus. A final prospectus relating to this offering will be filed by Biodexa with

the SEC. When available, copies of the final prospectus can be obtained at the SEC's website at www.sec.gov or

from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at prospectus@ladenburg.com.

About Biodexa Pharmaceuticals PLC

Biodexa Pharmaceuticals PLC (listed on NASDAQ: BDRX) is a clinical

stage biopharmaceutical company developing a pipeline of products aimed at primary and metastatic cancers of the brain. The Company's

lead candidate, MTX110, is being studied in aggressive rare/orphan brain cancer indications including recurrent glioblastoma and diffuse

MTX110 is a liquid formulation of the histone deacetylase (HDAC) inhibitor,

panobinostat. This proprietary formulation enables delivery of the product via convection-enhanced delivery (CED) at potentially therapeutic

doses directly to the site of the tumour, by-passing the blood-brain barrier and avoiding systemic toxicity.

Biodexa is supported by three proprietary drug delivery technologies

focused on improving the bio-delivery and bio-distribution of medicines. Biodexa's headquarters and R&D facility is in Cardiff,

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. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of

1995 and are based on management's belief or interpretation. All statements contained in this announcement that do not relate

to matters of historical fact should be considered forward-looking statements. In certain cases, forward-looking statements can be identified

by the use of words such as "plans", "expects" or "does not anticipate", or "believes",

or variations of such words and phrases or statements that certain actions, events or results "may", "could",

"would", "might" or "will be taken", "occur" or "be achieved." Examples

of forward-looking statements include, among others, statements we make regarding the closing of the offering of securities. Forward-looking

statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the

Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those

expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein.

Reference should be made to those documents that

Biodexa shall file from time to time or announcements that may be made by Biodexa in accordance with the rules and regulations promulgated

by the SEC, which contain and identify 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 Biodexa are expressly qualified in their entirety by the cautionary

statements above. Except as may be required under relevant laws in the United States, Biodexa does not undertake any obligation

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

For more information, please contact:

Biodexa Pharmaceuticals PLC

Stephen Stamp, CEO, CFO

Tel: +44 (0)29 20480 180

Edison Group (US Investor Relations)

Tel: +1 (860) 573 9637

Email: afactor@edisongroup.com