Bio Green Med Solution Reports $1.1M Revenue and Reduced Losses in Transition to Fire Safety Sector

Bio Green Med Solution, Inc. (BGMS), formerly Cyclacel Pharmaceuticals, reported its financial results for the six months ending June 30, 2026, revealing a significant shift in its operational focus and financial performance. The company generated $1.1 million in revenue during this period, a notable increase from zero revenue in the same period last year, attributed to its new subsidiary, Fitters Sdn. Bhd., which specializes in fire safety products. The cost of sales for the same period was $892,000, resulting in a gross margin of approximately 20%. Despite this revenue generation, BGMS reported a net loss of $602,000, a reduction from a loss of $1.4 million in the prior year, indicating improved operational efficiency.

The company has undergone substantial changes since its previous fiscal period, including the liquidation of its UK subsidiary, Cyclacel Limited, in January 2025, which resulted in a gain of approximately $5 million from deconsolidation. This strategic decision allowed BGMS to focus solely on its fire safety business, which it acquired in September 2025. The company has also engaged in various financing activities, including a securities purchase agreement with investors that raised $794,403 in June 2026, further bolstering its cash reserves to $3.8 million as of June 30, 2026.

Operationally, BGMS has made significant strides in its new market. The acquisition of Fitters Sdn. Bhd. has positioned the company to capitalize on the growing demand for fire safety products in Malaysia, particularly in response to the rapid expansion of data centers in the region. The company reported a decrease in general and administrative expenses from $5.5 million in the first half of 2025 to $886,000 in the same period of 2026, primarily due to the absence of one-time costs associated with previous changes in control. This reduction in expenses reflects a more streamlined operational structure.

Looking ahead, BGMS faces challenges related to its liquidity and ongoing operational viability. The company has expressed substantial doubt about its ability to continue as a going concern over the next twelve months, primarily due to its reliance on external financing to sustain operations. Management is actively exploring strategic alternatives, including potential mergers or acquisitions, to secure additional funding. The company anticipates modest revenue growth in the fire safety sector but acknowledges the need for further capital to support its business plan and operational needs.

In summary, Bio Green Med Solution, Inc. is navigating a transformative phase, shifting from biopharmaceuticals to fire safety solutions, with early signs of revenue generation and improved cost management. However, the company must address its liquidity concerns and secure additional funding to ensure its long-term sustainability in a competitive market.