Biodexa Pharmaceuticals is a clinical-stage biopharmaceutical company with no approved products or revenue, focused on developing drug candidates for gastrointestinal cancers and related rare diseases. All three of its active programs were in-licensed from third parties. The lead asset, eRapa, is a proprietary oral formulation of rapamycin being developed for familial adenomatous polyposis (FAP), a hereditary colon condition with no approved drug therapy, and secondarily for non-muscle invasive bladder cancer. A Phase 3 registrational trial in FAP is underway, funded by $20M in non-dilutive grant funding from CPRIT. The second asset, MTX240, is a small molecule licensed from Otsuka targeting gastrointestinal stromal tumors (GIST) in patients resistant to standard TKI therapies, with a Phase 1b/2a trial planned by end of 2026. The third asset, Tolimidone, is a lyn kinase activator in early Phase 2 development for Type 1 diabetes, with the goal of preserving beta cell function. Biodexa's business model is to advance each asset to proof-of-concept, then out-license to a larger pharma partner for late-stage development and commercialization in exchange for milestones and royalties. Biodexa has no internal manufacturing or commercial infrastructure, and funds operations through equity issuances and external grants.