Biodexa Pharmaceuticals plc · NASDAQ:BDRX
Biodexa Pharmaceuticals — Investor Presentation (February 2026)
32 slides from Biodexa Pharmaceuticals's investor presentation, February 2026
Slide 1: Corporate Presentation
Corporate Presentation NASDAQ:BDRX February 2026
Slide 2: Disclaimer & cautionary language regarding forward-looking statements
Disclaimer & cautionary language regarding forward-looking statements This presentation (the “Presentation”) has been prepared by Biodexa Pharmaceuticals PLC (the “Company”) for meetings held with a limited number of potential investors to assist the recipient in making its own evaluation regarding
Slide 3: Forward looking statements contd
Forward looking statements contd … The forward-looking statements contained in this Presentation (including assumptions, opinions and views of the Company or opinions cited from third party sources) are subject to risks, uncertainties and other factors that may cause actual events to differ material
Slide 4: Highlights
Highlights • NASDAQ listed, $5M market cap • Focused on rare GI oncology diseases • Funded Phase 3 program in FAP* • Phase 1 ready asset in GIST** • Semi-virtual organization • Near term milestones * Familial Adenomatous Polyposis ** GastroIntestinal Stromal Tumors 4
Slide 5: Company Strategy
Company Strategy BUILD DEVELOP PARTNER Build pipeline of assets Develop assets through License out to pharma focused on the GI / GI next stage/s of validation partners oncology space Progress through to Partners sponsor phase Target assets in late pre- completion of phase 1/2 3 programme and clinica
Slide 6: Current pipeline
Current pipeline Grant Indication Preclinical Phase 1 Phase 2 Phase 3 Funding MTX230 eRapa Familial Adenomatous (rapamycin) Polyposis (FAP) Orphan $20 million MTX230 eRapa Non-Muscle Invasive $2.8 million (rapamycin) Bladder Cancer (NMIBC) MTX228 tolimidone Type 1 Diabetes (Lyn Kinase activator) MTX
Slide 7: MTX230
MTX230 eRapa (rapamycin) for treatment of Familial Adenomatous Polyposis (FAP) 7
Slide 8: MTX230 - highlights
MTX230 - highlights • Re-purposed Rapamune® (Pfizer), approved in 1999 (US), 2001 (EU) • Re-formulated as eRapa to improve pharmacokinetics, bioavailability • Compelling Phase 2 data published Digestive Disease Week, InSIGHT 2024 • Phase 3 (serentatrial.com) currently recruiting in US, Europe • Supp
Slide 9: Familial Adenomatous Polyposis (FAP)
Familial Adenomatous Polyposis (FAP) • Caused by single APC gene mutation, 70-75% hereditary • Manifests as proliferation (100s /1,000s) of polyps in the GI tract • If untreated, near 100% of patients develop colorectal cancer • Standard of care is active screening → polypectomy → colectomy and ileo
Slide 10: MTX230 – mechanism of action
MTX230 – mechanism of action • Rapamycin is a well characterized and approved mTOR inhibitor (mammalian Target Of Rapamycin) • Wnt provides a signal to divide rather than differentiate • In APC mutation, Wnt signaling is constitutively active, meaning cells continue to proliferate (rather than diffe
Slide 11: MTX230: Phase 2 in FAP
MTX230: Phase 2 in FAP Prevention of progression in FAP 12 month data Change from baseline (%) Cohort 2: 89% non-progression, 29% decrease in median polyp burden 11
Slide 12: Global eRapa Phase 3 study
Global eRapa Phase 3 study Trial Design and Sites TRIAL DESIGN GLOBAL REACH • Placebo-controlled, double- blind STUDY • n=168 • Inclusion: high risk pts with germline or phenotypic FAP diagnosis • Patient Stratification: • Intact colon vs post-surgery • Stage 3 / higher duodenal polyposis 30 initial
Slide 13: Global eRapa Phase 3: Primary Endpoint and Timeline
Global eRapa Phase 3 Primary Endpoint and Timeline PRIMARY ENDPOINT: Progression-Free Survival (PFS) Composite Clinical Progression Measure Surgery /meets criteria Advancement of Diagnosis of high-grade Death by any cause for major surgery Spigelman Stage dysplasia or cancer Endpoints agreed in Type
Slide 14: MTX230 – non-orphan indications / clinical studies
MTX230 – non-orphan indications / clinical studies PHASE 2 NMI BLADDER CANCER (ongoing) PHASE 1 PROSTATE CANCER (completed) • Placebo-controlled, two centers, (n=166,fully enrolled) • Open label dose escalation, single center, (n=14) • Inclusion: NMIBC diagnosis last 90 days, no prior BCG • Inclusio
Slide 15: MTX240
MTX240 Molecular glue for treatment of GastroIntestinal Stromal Tumors (GIST) 15
Slide 16: MTX240 - highlights
MTX240 - highlights • Molecular glue, anti-tumor novel mechanism of action • Extensive preclinical package developed by Otsuka • Phase 1 ready (Japan) for GIST • Efficacy in resistant PDX models offers potential to replace some / all TKIs • Targeting first patient dosed in 4Q26: Dose escalation, fol
Slide 17: GastroIntestinal Stromal Tumors (GIST)
GastroIntestinal Stromal Tumors (GIST) • Tumors arise from Interstitial Cells of Cajal (ICCs) in GI wall, responsible for peristalsis [5] • ICCs normally express the tyrosine kinase KIT (CD117) → becomes constitutively activated in GIST [5] • GIST tumors occur in the stomach (~70%), small intestine
Slide 18: GIST – current and potential new therapies
GIST – current and potential new therapies • Surgical resection (when feasible) KIT WILD TYPE PDGFR COMPOUND PDGFR • Tyrosine Kinase Inhibitors (TKIs) Primary ATP-binding pocket Activation Loop D842V SDH insufficient BRAF NF1 exon 9 exon 11 exon 13 exon 14 exon 17 exon 18 V600E inhibit mutant KIT /
Slide 19: MTX240 – mechanism of action
MTX240 – mechanism of action [14] • Small molecule molecular glue developed to Phase I and tested in multiple PDX cancer models • Unlike other molecular glues, it does not involve ubiquitinylation (i.e. degradation of a specific protein) • MTX240 forces the stable complexation of PDE3a and SLFN12 (w
Slide 20: MTX240 – proof of concept
MTX240 – proof of concept • Knock-in / knock-out studies confer sensitivity / resistance, respectively • Toxic effect is also abrogated in cells lacking RNAse function • PDX studies demonstrate efficacy in tumors with different KIT mutations (p<0.01) [14]: 20
Slide 21: MTX240 – Phase 1b / 2a program
MTX240 – Phase 1b / 2a program Phase Dose escalation Expansion Subjects Patients with advanced GIST patients with demonstrated resistance to imatinib malignant solid tumors and sunitinib that express both SLFN12 and PDE3A Objectives Assess tolerability to find dose Assess tolerability and efficacy:
Slide 22: MTX228 tolimidone in Type 1 Diabetes
MTX228 tolimidone in Type 1 Diabetes The potential to restore β-Cell Function
Slide 23: MTX228 - summary
MTX228 - summary • Re-purposed Lyn kinase activator for Type 1 Diabetes • Extensive preclinical package developed by Pfizer • Preclinical data suggests Beta cell proliferation (University of Alberta Diabetes Institute) • Ongoing Phase 2 IIT at Alberta • IP (use) through 2038 • In-licensed from Melio
Slide 24: Type 1 Diabetes
Type 1 Diabetes • T1D is a complex interaction of genetics (esp HLA) and environmental triggers • Autoimmune attacks destroy insulin-producing beta cells in pancreatic islets • Lack of / reduced insulin → hyperglycemia → multiple co- morbidities • Other than exogenous insulin, limited therapeutic op
Slide 25: MTX228: mechanism of action
MTX228: mechanism of action • Signaling protein which modulates key intracellular functions such as: • Proliferation • Differentiation • Apoptosis • Migration, and • Metabolism • In fat cells it increases utilization of insulin and thus decreases blood sugar • In pancreatic islets: • activation of L
Slide 26: MTX228: preclinical data in T1D mouse models
MTX228: preclinical data in T1D mouse models • Tolimidone increases β-cell mass Improved glucose control in non-obese mouse model (NOS model) with preserved effect after • β-cell function preservation may treatment termination – protective effect of be due to a direct protective tolimidone activity
Slide 27: MTX228: clinical development plan
MTX228: clinical development plan Phase 2a (ongoing IIT at University of Alberta): • Efficacy dose confirmation study. Safety data complemented by earlier Pfizer/Melior studies • n ≈ 12-15 patients, 3 dose/escalations • Runs in parallel with preparations for Phase IIb Phase 2b (planned): • Aiming to
Slide 28: Milestones / potential catalysts
Milestones / potential catalysts eRapa eRapa eRapa eRapa eRapa Early Access NMIBC Serenta Serenta Serenta Program Phase 2 data fully futility database initiated read out recruited analysis lock 1Q26 3Q26 4Q26 3Q27 1Q28 4Q28 4Q29 MTX240 MTX240 MTX240 MTX240 MTX240 MTX240 MTX240 License / Orphan Drug
Slide 29: Cap table (as of 02.06.26)
Cap table (as of 02.06.26) WAV ex. Ordinary shares ADSs % Price % Issued 292,956,808,922 2,929,568 78.5% 29.3% Pre-funded warrants 801,000 21.5% 8.0% Issued - in the money 3,730,568 100.0% 37.3% Warrants - Series L 6,097,562 $ 3.28 60.9% Warrants - Other 182,525 $ 75.45 1.8% Stock options 3,130 $ 62
Slide 30: BDRX liquidity
BDRX liquidity Capitalization (£ in thousands) As of June 30, 2025 Actual Pro Forma* Pro Forma as Adjusted# Cash and cash 4,036 4,308 10,848 equivalents Long-term debt 0 0 0 Total equity 11,436 11,708 18,248 Total capitalization 11,436 11,708 18,248 Cash runway Q3 2026 *Pro forma basis – gives effec
Slide 31: Thank You
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Slide 32: References
References 1. DataBridge Market Research. (2023). Gastrointestinal stromal tumor market size, trends and forecasts (2024-2032). Retrieved from https://www.databridgemarketresearch.com/reports/global- gastrointestinal-stromal-tumor-market 2. Future Market Insights. (2025). Gastrointestinal stromal tu
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